One of Ireland's leading information technology (IT) firms, Iona Technologies, sees China as its fastest-growing market this year. 'China will account for 3 per cent of our revenue this year, up from 1 per cent last year,' Iona chairman Chris Horn said. 'Elsewhere in Asia, growth will be static,' he said. Opening Iona's Beijing office, Mr Horn said 60 per cent of last year's US$200-million revenue came from the United States, 30 per cent from Europe and 10 per cent from Asia. Its mainland customers include Shanghai Telecommunications, Motorola China, Nortel China, Yi Yang, a major supplier to China Mobile, and Forlink, a systems integrator for China Mobile's network management system. Iona's software enables customers to connect applications using Internet technology. Last autumn, it signed a contract with the Beijing Traffic Management Bureau to improve traffic flows with computers that can adjust red and green lights according to demand. The city is under strong pressure to improve its traffic system before the 2008 Olympics. China's entry into the World Trade Organisation has been a significant factor for Iona. It will bring in multinational companies which Iona services elsewhere in the world. 'China is opening up insurance, trading and the supply chain for foreign firms. We have no domestic competitors. Our competitors here are the same as in other countries, BEA Systems and Visigenics,' Mr Horn said. Ireland's Minister for Foreign Affairs Brian Cowen, on an official visit to China, was at the opening. Mr Cowen said IT and the high-technology sector had been one of the driving forces of the country's economy in the past decade.