STORY:
China Short On Y2K Funds

In a Reuters report published by Inside China says China's efforts to prevent a nationwide computer shutdown on Jan. 1, 2000 face a critical lack of funds and inadequate coordination.

"As the year 2000 draws near, resolving the Y2K problem has become a burning issue, which brooks no delay," said Ministry of Information Industry official and senior Y2K planner Zhang Qi.

The story says interdepartmental cooperation and coordination is not adequate and there is a huge gap in funds required and there is a lack of understanding of and preparation for the legal disputes that may arise.

Fearing that the millennium bug will wreak havoc on China's banking and transportation sectors, the report says the government is considering closing banks on Dec. 31.

"This year we plan to change the year-end settlement date from Dec. 31 to Dec. 30 so that we can take a day off," said Chen Jing, technology director at the People's Bank of China.

Aviation officials have also ordered air traffic controllers to ensure planes flying in the hours just before and after midnight Dec. 31 maintain a 15 minute distance gap, up from the regularly-mandated 10 minutes.

Nevertheless, Zhang and other information industry officials are optimistic they can root out major problems before the end of the year.

Source: Reuters / Inside China

DATE: 4/19/99

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