Monday, August 29, 2005

China Eyes 'Creative' Industries in IP Push

From EETimes: China Eyes 'Creative' Industries in IP Push

"Critics call China's policy of promoting industrial revitalization and scientific and technological innovation "technonationalism"; others see the sparks of the next Asian Miracle. Either way, expect to see "Designed in China" labels replacing the more prosaic "Made in" variety that has been migrating from nation to nation in Asia since the end of World War II."

""We will see China in a few years going from being a follower to being a leader in defining consumer electronics trends," Philips Semiconductors executive vice president Leon Husson said in a recently published interview."

"Indeed, Internet and digital media are on a fast ramp in China, which has more than 100 million Internet users, about 71 percent of whom are less than 30 years old. In recent interviews following its first VC placements, Intel Capital's president, Arvind Sodhani, was unequivocal about China's enormous potential. "China is a force for technology innovation in the worldwide marketplace," he said."

"Intel's $200 million China fund is the tip of the iceberg. In the first seven months of 2005, foreign direct investment in China reached $33.2 billion, according to the country's commerce ministry. A recent addition to that large and growing pool is Accel Partners, which last month announced the formation of a $250 million China Growth Fund with IDG Technology Venture Investment. The fund is focused primarily on IT and consumer technologies."


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