IT firms encouraged to look overseas

The government is to introduce a range of new policies in 2005 designed to encourage China IT and telecom related enterprises to expand overseas, state media reported. The new policies will focus on increased availability of bank loans, credit insurance and international settlement, Wang Xudong, minister of information industry said, adding that the government was also looking at other "stimulative policies" to encourage overseas growth. "Going international is one of the key strategies for us to enhance our competitiveness," he was quoted as saying.