China Business News, 9/16/08
The State Council has announced revisions to its "Administrative Regulations on Foreign Investment in Telecommunication Enterprises".
Under the changes, the required registered capital for foreign firms providing basic telecommunications service nationwide or in provinces, autonomous regions and directly-administered municipalities will be reduced from RMB 200 mln to RMB 100 mln. The registered capital required for value-added telecommunications service providers has been lowered to RMB 10 mln.
The Ministry of Industry and Information Technology (MIIT) will have 180 and 90 days to review applications by foreign-invested telecommunications enterprises and value-added service providers, respectively. The final approval for these projects will be transferred to the State Council's National Development and Reform Commission (NDRC).