China has decided to abolish two laws banning overseas investment in its telecom sector. A source with the Chinese Ministry of Information Industry said that the move, to be effective as of December 11, represents part of China's efforts to meet its commitment to further opening its market after its WTO entry.
The laws to be abolished are the Provisional Regulations on the Administration of Examining and Approving Telecommunications Businesses issued on September 11, 1993, and the Provisional Regulations on the Administration of the Telecommunications Market enacted on November 10, 1995.
Both laws prohibit overseas-funded businesses in China as well as overseas individuals, enterprises, and other bodies from entering the Chinese telecommunications market.
(People?s Daily December 2, 2001)
