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China MII Approves First JV Telecom SP One Year after Access to WTO.
(From SinoCast China Business Daily News)
Beijing, May 06, SinoCast -- China's Ministry of Information Industry (MII) has granted permission to Beijing China Sports Development Co. Ltd. to launch Internet information services in Beijing, which will be the first licensed sino-foreign telecom service provider (SP) ever since China entered into WTO in 2002.
The new joint venture company has a registered capital of US$ 390,000 with ESPN Sports Ltd. (subsidiary of US-based ESPN and Star Group Ltd.), Beijing Higoal Investment Consultant and Shenzhen Extraordinary Advertising Co. Ltd. investing 30%, 35% and 35% respectively.
An insider with MII confirmed …
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