CHINA China's ICT market to grow in 2020 despite epidemic outbreak

CHINA

China's ICT market to grow in 2020 despite epidemic outbreak

Xinhua

18:00, February 19, 2020

BEIJING, Feb. 19 (Xinhua) -- Despite headwinds from the ongoing epidemic outbreak, China's information and communication technology (ICT) sector will continue to expand in the full year of 2020, according to a new report.

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File photo: VCG

The outbreak of novel coronavirus is expected to bring a 10-percent decline in China's ICT market in the first quarter due to the closure of stores and suspension of work, the report from the global market intelligence firm International Data Corporation (IDC) showed.

The report added the epidemic's impacts are not likely to last for a whole year as Chinese policymakers intensify prevention and control measures including providing credit support and cutting taxes, predicting 5.5 percent annual growth in the ICT market.

In the second quarter and the latter half of the year, Chinese government will likely continue to implement proactive fiscal policy and loosen up its monetary policy, and expand input for improving infrastructure and people's lives, the report said.

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