Foreign Investment Allowed in Telecom Carriers

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Last updated at: (Beijing Time) Tuesday, December 04, 2001

Foreign Investment Allowed in Telecom Carriers

Two regulations banning overseas investment in China's telecom carriers will be abolished December 11 to make it possible for telecom giants to invest in China's fast-developing telecom industry.

China will abolish two telecommunication regulations on December 11, making it possible for foreign telecom giants to invest in China's fast-developing telecom industry.

The two regulations were Provisional Regulations on the Administration of Examining and Approving Telecommunications Businesses issued on September 11, 1993, and the Provisional Regulations on the Administration of the Telecommunications Market enacted on November 10, 1995, banning overseas investment in China's telecom carriers.

Sources said that buying public listed stocks of domestic telecom operators used to be the only gateway for overseas investment in China's telecom industry.

China Mobile and China Unicom, the country's two public listed mobile carriers, have been targeted by many overseas investors.

However, experts said that the anticipated move, marking another effort in the country's adaptation to the requirements of the World Trade Organization, is unlikely to engender an overwhelming flow of foreign investment. Efforts are needed to further clear China's telecom regulations.

China will make public the contents of all protocol and agreements concerning its accession to the WTO very soon. China will translate the agreement into Chinese as soon as possible. A series of books entitled "Essential Knowledge on China's Accession to the World Trade Organization," compiled by trade experts who participated in the WTO negotiations, will also be published soon.

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