Gartner: Researchers at Gartner believe that IT spending by Chinese consumers and enterprises will grow 5.9 percent in 2010 to reach $216.7 billion. In part, the spending growth will come from $40 billion the Chinese government spent to counteract the effects of the global economic downturn.
The Chinese government's focus on driving high levels of GDP growth will create favorable market conditions for the continued evolution of the IT industry in China, said Gartner's Uko Tian. It has placed the development of the IT industry high on its list of priorities and stresses the wide applicability of IT in economic and social fields. The fixed-capital investment required is easier to obtain than other forms of financing.
The company expects the biggest amount of spending on telecommunications ($158.2 billion), followed by computing hardware ($43 billion), IT services ($9.4 billion) and software ($6.2 billion).