From Times Staff and Wire Reports

IBM Signs Agreement With China: The Ministry of Electronics Industry of the People's Republic of China and International Business Machines Corp. announced a memorandum of understanding covering a wide range of information technology projects and commitments. The first of these to be implemented is a networking venture established between IBM China Company Ltd., IBM's local subsidiary in China, and Ji Tong Communications Co., which is affiliated with the Ministry of Electronics Industry. The joint venture, to be based in Beijing, will produce extensive advanced networking and related technologies in support of what China calls its three "Golden Projects"--major initiatives in the development of China's information technology infrastructure.

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