China Opens Telecom Services to Foreign Ownership

China will open up some telecom and internet services to foreign ownership.

Five areas, including call centres and home internet access, will be open to full foreign ownership, the state-owned Xinhua news agency has said.

Firms providing online data and analysis services will have a cap of 55% foreign ownership.

Foreign companies looking to offer these services will have to base their infrastructure in the Shanghai free trade zone, Xinhua said.

However, overseas firms will be allowed to offer services across the country, the Xinhua news agency quoted Wen Ku, head of the telecom development department as saying.

The only exception is home internet access, with foreign-owned firms allowed to offer the service only to consumers within the free trade zone.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza