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Business trends

China's e-government drive creates $38bn market

Hanweb Software smartifies 17 provinces as it endeavors to go nationwide

In January, Hanweb Software also accepted a strategic investment from Ant Financial, the financial services company under the umbrella of Alibaba Group.   © Reuters

BEIJING -- China is undertaking what it calls "electronic government reform," making it more convenient for companies and citizens to access administrative services and opening a market worth 272.2 billion yuan (about $38 billion), according to Orient Securities.

The market grew at an annual pace of between 12% and 17% during the 10 years through 2017, the Shanghai-headquartered investment bank and brokerage said.

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