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China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No. 135

China Business Intelligence No. 135

Samsung Economic Research Institute Beijing Office

Sept. 30, 2009

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Highlights:

I. Economy

Mobile operators are using the IM service to gain user loyalty and provide various additional telecom services. With the expanded distribution of internet application, the IM market has emerged as the driving force behind the growth of telecom operators. China Mobile successfully launched its own IM service by combining its 500 million users (70% of cell phone users in China ), and Tencent's mobile IM service unit. China Telecom is preparing to take on the IM market leader with the cooperation of market latecomers.

II. Industry

The State Council of China decided in August 2009 to strengthen the control of production in major sectors such as steel, cement, plate glass, coal chemical, poly silicon, and wind power facilities, in a bid to address overproduction and redundant construction facing a handful of industries. According to the Ministry of Industry and Information Technology's 2009 summer report on China's industry economy, the overproduction of steel exceeded 100 million tons, while cement surpassed 300 million tons. Worse, there are 200 new cement production lines that are now under construction with a combined production capacity of 200 million tons.

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