Business / Industries

Internet industry to stimulate economy

(China Daily) Updated: 2012-09-12 11:25

China plans to speed up the development of Internet-related businesses as a boost the weakening economy, government officials said on Tuesday.

The government will support the construction of Internet infrastructure such as fiber-optic communications networks and public Wi-Fi hotspots, said Minister of Industry and Information Technology Miao Wei. "The making and consumption of Web content will help to stimulate domestic demand and lift the economy," he said.

China will spend "several hundred billion yuan" to upgrade the nation's Internet infrastructures each year, according to Miao.

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