Newman HuoSHENZHEN-BASED Zhongxing Telecom has risen to first place in the 2002 list of China’s Science and Technology Top 100 from third place a year earlier. This year’s ranking was conducted by one of China’s largest financial websites, stockstar.com, and was based on the 2001 financial statements published by the listed science and technology companies on the Shanghai and Shenzhen stock exchanges. Zhongxing Telecom adopted the strategy of orienting technology to market demand, promoting technological applications and enhancing the company-wide management so that it could post a net profit of 570 million yuan on a turnover of 9.33 billion yuan (US$1.13 billion) last year. “Zhongxing Telecom’s success can be attributed to our precise understanding of the actual market demand, which enables us to grasp opportunities that other companies can not,” said Wei Zaisheng, Zhongxing Telecom’s deputy CEO.In July, the board of directors of Zhongxing Telecom announced plans to sell shares on the Hong Kong Stock Exchange.“International market will be Zhongxing Telecom’s next battlefield of strategic importance and the future business increase of our company will mainly come from international market,” Wei said. Zhongxin Telecom, which float- ed domestic-only, yuan-denominated A shares on the Shenzhen Stock Exchange in 1997, is the largest domestically-listed telecom gear maker.