Shake-up for Chinese phone sector

According to the BBC, China is overhauling its telecoms industry in an effort to make it more competitive and pave the way for the launch of third-generation services.

"The radical restructuring of the state-owned sector will result in a series of mergers and asset swaps.

Beijing wants more competition for dominant provider China Mobile and the proposed changes led to an 8% fall in the firm's shares in Hong Kong trade.

China is the world's largest mobile phone market, with 520 million users."

emily | 1:48 PM | News, Buzz |
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