e-Governance News
Unauthorised foreign investment in telecom services banned in China
Unauthorised foreign investment in telecom services banned in China
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By Elets News Network 28-July-2006
Illegal foreign investments are now banned in booming telecom sector and value added services including Internet portals, e-Commerce and search engines in China.
The procedures target to crack down on unauthorised foreign investors who are providing services with shared or borrowed licences, domain names or trade markets from domestic companies.According to the order of the Ministry of Information Industry (MII), all foreign investors will have to follow strict application procedures when seeking to offer telecoms value-added services in China. China, in line with its commitments to the World Trade Organisation (WTO), is gradually opening up its telecoms value-added services market. The ministry has instructed local regulators to investigate and report any illegal activities by November 1, 2006.
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