First Sino-Foreign Joint Venture in Telecom Operation Starts Business

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Last updated at: (Beijing Time) Saturday, March 23, 2002

First Sino-Foreign Joint Venture in Telecom Operation Starts Business

The first Sino-foreign joint venture in telecommunications Operation in China, Shanghai Symphony Telecommunications, started its business Friday with a grand opening ceremony.

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The first Sino-foreign joint venture in telecommunications Operation in China, Shanghai Symphony Telecommunications, started its business Friday with a grand opening ceremony.

It will offer data transmission and seamless connection services to global networks. It will begin operations in Shanghai' s Pudong area, where more than 100 transnational companies are located, and will later expand its business to other major cities in China.

Shanghai Telecom, a subsidiary of China Telecom Corp., has a 60 percent stake in the joint venture, while the AT&T has 25 percent and the Shanghai Information Investment Inc. 15 percent.

The first clients of the company will be those in the ranks of the Fortune 500 top performing corporations in Pudong, according to the company.

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