Rapid Growth of Mobile Internet

According to a report from CNNIC， as of the end of December 2012， the scale of people accessing the Internet via mobile devices in China rocketed to 420 million. The penetration rate for mobile Internet In China users among netizens in China increased to 74.5% from 69.3% of the previous year. In China， mobile phones have become the most widely used devices to access the Internet.The popularity of smart phone also stimulated the rapid growth of the country's mobile Internet sector.

New Chief Leads SASAC Reform Jiang Jiemin， former president of China National Petroleum Corp. （CNPC），

was appointed as chairman of the State-owned Assets Supervision and Administration Commission （SASAC）， established in 2003 to regulate central state-owned enterprises （SOEs）. The appointment of an enterprise executive rather than a government official to the position reveals the determination of the government to carry forward the reforms of SOEs.

Fierce Competition in Internet Financing Sector

China Insurance Regulatory Commission has approved the establishment of the first online insurance company Zhong An Online Property Insurance initiated by Alibaba， Tencent and Ping An. In last August， Ma Mingzhe， board chairman and CEO of Ping An confirmed that they were working with the two Internet giants on building such a business. Meanwhile， Ma Weihua， president of China Merchants Bank， is also working to explore other business models such as mobile payment.

Doubts over the Future of CRC

On March 14， China Railway Corporation （CRC） was set up with a register capital of more than 1 trillion yuan and more than 2 million employees. The move comes after a decision by the top legislature to revamp the troubled railway industry. Meanwhile the newly formed State Railways Administration will shoulder the MORs administrative responsibilities. However many problems and huge debts still make the future uncertain for the newly formed China Railway Corporation.