Which is the biggest mobile-phone market in the world? The answer, since July, is China's. A country in which, until a few years ago, the only people who could afford mobile phones were triad mobsters now has 121m users, BDA, a Beijing consultancy, forecasts that the number will rise to 370m by 2005, enough to persuade many investors-even after tele-coms shares have dived all round the world—that China was, and would remain, a magic market.
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