Chinese tech industry on cusp of boom

Years of 'quietly monitoring US' set to pay off, according to investor group
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The Chinese technology industry is on the cusp of a growth spurt, thanks to its unique position in the nation's economy and years of taking notes on the US.

The mobile and internet communications market in particular is on the rise, as the Chinese state's one child policy has meant a great deal of under 35s are only children, and are flocking to online social media services to interact with friends, according to Mirae Asset Global Investments Group.

Cong Li, manager of the firm said: “For some time Chinese technology companies have been quietly monitoring US companies and learning from the side lines and now their knowledge is being transformed into serious profit and growth potential."

The group also argues unlike many traditional Chinese firms, which are Government run or privately owned family businesses, tech companies are often run by those with more international experience, giving them a knowledge of foreign markets.

Regional iPhone distributor China Unicom, search engine Baidu, internet hosting operation Tencent, and Twitter equivalent Weibo are all tipped as particular hot properties.

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