On January 24, after ten years of research and development, the China Ministry of Information announced the launch of a decimal internet technology. It combines domain name, ip, and MAC addresses, and will replace the existing hexadecimal system developed by the U.S. Xie Jianping, Chief Engineer in charge of the project said that China has become the second country in the world next to the U.S. that has mastered the technology in domain names and address distribution.
China pays 500 billion yuan (US$6.9 billion) to the U.S. each year for worldwide Internet usage, including domain registration, analysis, channel resources, equipment, and software. The total amount exceeds China’s annual defense budget.
Source: China First Finance Daily, January 24, 2008