An American Chinese businessman in the information industry made the suggestion at a forum on scientific and technological progress and social development which was held Monday.

China's overall capacity in high technologies is comparatively inadequate due to the lack of comprehensive planning, said Louis Lau, chairman of Asiainfo Holdings Incorporation.

He also pinpointed limited information about the latest international technological development and weaknesses in translating research and development accomplishments into real products.

The rapid development of network economy-based technology has provided an opportunity for developing countries to narrow the gap with developed countries, Lau added.

Chinese entrepreneurs around the world should also enhance their connections by taking advantage of IT, he said.

In creating links between Chinese entrepreneurs all over the world, Internet services can be given to increase their chances of future success, said Kwek Leng Joo, president of Singapore Chinese Chamber of Commerce and Industry.

The chamber Monday established a strategic union with Alibaba.com, building a universal Chinese entrepreneurs electronic marketplace.

Based on the World Chinese Business Network, Alibaba and the chamber will jointly release updated business information, economic and financial news, a catalogue of enterprises and their products.

``It is designed to provide information to facilitate business to business (B2B) exchanges globally, combine B2B features and regional economic requirements,'' said Joo.

The renewed network will give entrepreneurs and investors ready access to market information and an ability to enlarge their business through network linking, said Jack Ma, chief executive officer of the Shanghai-based website.

``The new science and technology, featured with information and biotechnology, is having great impact on the development of traditional industries,'' said Yu Xiaosong, chairman of China Council for the Promotion of International Trade.

As for the so-called sunset steel industry, China still has gap in aspects of technology, management and marketing, said Xu Daquan, chairman of Shanghai Baosteel Group Corporation.

``Baosteel will develop co-operation with outstanding domestic and foreign enterprises in the fields of research, development, trade, logistics, investment and financing to effectively compete with foreign rivals,'' he said.

The forum was part of the ongoing Sixth World Chinese Entrepreneurs Convention.

The convention also held another two forums on how to meet the opportunities and challenges in globalization and the contribution made by Chinese entrepreneurs to the world economy.

(China Daily 09/18/2001)