China to allow foreign ownership in telecom sector
China will open up certain telecom activities to foreign capital in the Shanghai Free Trade Zone, according to news reports.
Services with no cap for foreign ownership will include app stores, store and forward, domestic multi-party communication, call centres and home internet access, head of the telecom development department of the Ministry of Industry and Information Technology of China Wen Ku was quoted saying.
Online data and analysis services will be capped at 55 per cent foreign ownership, Wen said. The changes are part of China's commitments to the WTO to open up the ICT sector. Enterprises that apply for the services should register and base their infrastructure in the Shanghai FTZ, and all services may be available to the whole country, except home internet access services, which will be confined within the FTZ.