Five telecommunication businesses in Chinese mainland to open to Hong Kong

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Last updated at: (Beijing Time) Wednesday, October 01, 2003

Five telecommunication businesses in Chinese mainland to open to Hong Kong

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Service providers in Hong Kong will be allowed to set up joint ventures on the Chinese mainland to run five added value telecommunication businesses from Oct. 1 this year, Chinese Vice-Minister of Information Industry Xi Guohua announced here Tuesday.

The policy was made as the Closer Economic Partnership Arrangement (CEPA) between Hong Kong and Chinese mainland is set to bring more business opportunities to both sides.

Xi said the five businesses will include Internet digital center service, storage and transmission service, calling center service, Internet access service, and information service.

The policy regulates that shares of Hong Kong service providers in the Chinese mainland joint ventures should not exceed 50 percent. No geographical limitation will be enforced on joint ventures.

Xi stressed telecommunication administrations at all levels should strictly implement regulations in CEPA and its annexes, and carry out their duty when approving and supervising the joint ventures.

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