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Chinas’ big three operators will have new competition, with the Ministry of Industry and Information Technology (MIIT) issuing the nation’s fourth telecoms license to China Broadcasting Network.
The license will allow China Broadcasting Network to provide domestic internet data transmission and telecoms infrastructure services.
With the license the company willl be able to provide key telecoms services including broadband, calling and text messages, Shanghai Daily reported. The company will offer services via its subsidiary China Cable Television Network, which operates cable TV services nationwide.
Chinas’ big three operators will have new competition, with the Ministry of Industry and Information Technology (MIIT) issuing the nation’s fourth telecoms license to China Broadcasting Network.
The license will allow China Broadcasting Network to provide domestic internet data transmission and telecoms infrastructure services.
With the license the company willl be able to provide key telecoms services including broadband, calling and text messages, Shanghai Daily reported. The company will offer services via its subsidiary China Cable Television Network, which operates cable TV services nationwide.
A spokesperson for the MIIT said the introduction of a new operator is expected to improve market competition, as well as technology innovation and integration.
The allocation is also in line with the ministry’s three-network convergence project, which aims to combine telecoms, television and internet services into a single network.
China Broadcasting Network was founded in 2014 and has registered capital of 4.5 billion yuan ($691.9 million).
Shares in incumbent operators China Mobile, China Telecom and China Unicom all declined slightly in the wake of the news. But Reuters reports that the introduction of China Broadcasting Network to have little impact on the operators’ businesses in the short term, due in part to the broadcaster’s capital constraints.
A spokesperson for the MIIT said the introduction of a new operator is expected to improve market competition, as well as technology innovation and integration.
The allocation is also in line with the ministry’s three-network convergence project, which aims to combine telecoms, television and internet services into a single network.
China Broadcasting Network was founded in 2014 and has registered capital of 4.5 billion yuan ($691.9 million).
Shares in incumbent operators China Mobile, China Telecom and China Unicom all declined slightly in the wake of the news. But Reuters reports that the introduction of China Broadcasting Network to have little impact on the operators’ businesses in the short term, due in part to the broadcaster’s capital constraints.
