China unveils fourth telecom operator
Print Edition
CHINA Broadcasting Network Co became the country’s fourth telecommunications carrier after getting a national license yesterday to run Internet and communications services for consumers.
Its entry will push the industry to be more market-oriented and boost technology integration between broadcasting and telecom industries, said the Ministry of Industry and Information Technology, the regulator.
“A new carrier will boost market competition and technology innovation and integration,” the ministry said in a statement on its website.
China Broadcasting Network can operate key telecom services including broadband, text message and calling.
It planned to offer services through subsidiary China Cable Television Network Co.
Founded in 2014, China Broadcasting Network can use the new license to expand into broadband, smart TV and online video services, said Aijian Securities in a note.
The firm has cable networks and TV content services nationwide.
Its registered capital is 4.5 billion yuan (US$692 million).
The three other telecom carriers are China Mobile, China Unicom and China Telecom.
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