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China aims to boost telecoms investment

The Chinese government has renewed calls for private investment in the country's telecoms firms as it encourages them to cut fees and other costs and become more competitive in offering internet-related services, reports Reuters. The country's big telecoms firms are all units of unwieldy state-owned enterprises and are “seen as heavily overstaffed, inefficient and slow to develop key technologies”. The government will open the telecoms industry to private investment and give “free rein to telecommunications companies in the development of the internet”, according to a notice issued by the CPC Central Committee and the State Council. The notice, the latest in a string of increasingly proactive directives, urged further cuts to telecoms fees and said the government was committed to bolstering competition in the sector by easing rules and reining in subsidies. It also pledged to give venture capital firms and small internet businesses a freer rein. “Concerned by the need to build high-speed networks in poverty-stricken and remote areas and lower bandwidth costs, China's leadership has been gradually opening core technology requirements to private firms which have shot ahead in developing cloud and big data services as well as mobile software.” Read more

  • Tuesday, 24 January 2017

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