According to Ynet, ZTE has accumulated up to 10 billion RMB in unexecuted contracts outside of China. In 2004 roughly 34% of agreements made in markets abroad were not carried through, whereas the company has a follow-through rate of over 90% domestically. Of all domestic and overseas contracts combined, approximately 62% have not been executed. Huawei is also said to have a follow-through rate of around 70%. Both companies have stood at the vanguard in the expansion of Chinese ICT industry abroad. Although reasons for the high level on non-execution were not identified, the trend serves to underline the challenges Chinese ICT players have been facing as they aggressively work to build up presence in the global market.