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Ericsson connects investors with China's telecommunications industry
Posted: 31-May-2000 [Source: Ericsson press release]

[Ericsson's participation in a China symposium helped connect China's telecom industry with the international investment community.]

Beijing -- Ericsson, together with Lehman Brothers and Prudential Securities, have just completed a symposium in Beijing on "Capital Operations and Investment Analysis." The event brought together over USD 1 trillion of the US and international investment power with the world's largest market.

The historic symposium came just days after US Congressional approval of a bill granting Permanent Normal Trade Relations (PNTR) status to China and the EU approval of China's entry into the World Trade Organization (WTO). Both announcements open China's market to international investors.

The symposium connected international investors and fund managers with over 200 high level Chinese government and industry leaders. Throughout the event both groups exchanged information and explored ways to utilize the capital markets to support more rapid development of the Chinese telecommunications industry.

"Ericsson has been in China for 108 years," said Michael Ricks, President of Ericsson China. "As a long-time supplier we are committed to helping China come to the forefront of the new telecoms world, which is characterized by mobility and the Internet."

Tim Luke, Vice President, Lehman Brothers said: "The symposium brought together many of the world's most powerful investors from the US, Europe and Asia. We were delighted to be part of this opportunity to build a bridge between telecommunications investors and Chinese network operators."

Pete Peterson, Vice President, Equity Research, Prudential Securities Inc., said "This historic event opened the door to what is becoming the world's largest telecom market, which is expected to grow 40 percent a year." According to Prudential Securities, China represents 15 percent of today's global telecommunications equipment market of USD 60 billion. With the projected growth rates, China will soon represent an even larger part of the total market.

The China mobile telecommunications is growing by 2 million subscribers per month. Ericsson estimates that within five years China will have over 250 million mobile subscribers. That five-fold increase would still represent just 20 percent penetration of the total market.

To achieve such market growth, substantial investments are required by network operators. The strong market growth offers good returns for investors. By connecting operators with investors, Ericsson is supporting the continued development of the Chinese market. As a leading global company with strong local presence Ericsson is naturally positioned to facilitate this connection.

The Chinese delegates appreciated meeting with leaders in the investment community.

"We thank Ericsson for creating this unique opportunity. We are grateful for their efforts in marking this instructive symposium happen," said China Telecom President Zhou Deqiang.

"This provides us the chance to learn about the international world of finance," said Zhang Ligui, President of China Mobile.

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