China Broadcasting Network launched
By Shen Jingting (chinadaily.com.cn) Updated: 2014-05-28 15:37China has officially launched a State-owned China Broadcasting Network Ltd —dubbed by industry watchers as "the nation's fourth network operator" on Wednesday.
The newly-launched company has a registered capital of 4.5 billion yuan and has appointed Zhao Jingchun, former bureau chief of Henan Administration of Press, Publication, Radio, Film and Television, as the chairman.
China Broadcasting Network will operate businesses in cable network construction, operation and maintenance, as well as some related consulting work, research and development of certain technologies.
Xinhua News Agency said the new company is expected to act as a major force to promote China's progress in three-network convergence, which aims to combine cable television, telecommunications and the Internet into one seamless chain.
It is China's fourth network operator, following China Mobile Ltd, China Unicom (Hong Kong) Ltd and China Telecom Corp Ltd.
Reforms prove media accusations wrong
Social media inform more consumers
- Standard Chartered offshore RMB index rises slightly in July
- Shanghai-HK stock link to speed up capital market reforms: Barclays
- Relaxing restrictions on foreign investments
- Fujian on course to help create the new maritime Silk Road
- Foreign investors set sights on new targets
- UK looks to diversify in China
- Malaysia keen to expand trade ties
- HK still top choice for mainland firms
