IT industry forecast to spend $51b in 09

The amount spent by China's IT industry is estimated to grow 11% to $51.2 billion this year, a Springboard Research report predicted. "The government's ¥4 trillion stimulus package covers the education and telecoms sectors, which will in turn be good news for the IT industry," Springboard Greater China president Bryan Wang said. "IT related budgets for the 3G business constitutes a large proportion of the recovery plan." The report also said the nation's software outsourcing sector has been hit hard by the global recession but will rebound in the second quarter, fuelling the IT industry's outlay to grow 71% within 5 years.

$1 = ¥6.8, ¥1 = $0.15