Now a new plan, the Singapore-ONE Flagship Program is on the way. It includes developing infrastructure, applications, services, contents, international connections, and the world's first nationwide broadband multimedia Network. ONE stands for One Net for Everybody. China, has several advantages, such as a large number of Net users. And, most important, China can use the newest technology to catch up at lower cost.
Many companies see the Internet as no more than an electronic brochure or an introductory handbook.
Others, however, see it as a weapon to break through the competition in the traditional market. Mr. Shih Wing Ching, Managing Director of Centaline Property Agency Ltd. in Hong Kong, talked with me about how his company uses the Net to win the competitive battle. Centaline is the first property agency online in Hong Kong. We invest 10 million Hong Kong dollars in our website every year. This undermines the traditional agent system, because we provide the lowest price to buyers and the highest price to sellers.