Netease Tech, 11/15/12
According to a knowledgeable source, China's State Council has approved the State Administration of Radio, Film and Television's (SARFT) plan to establish a national-level China Radio and Television Network cable TV operator. The Ministry of Finance will inject RMB 4 bln in capital into the new operator, but there has been no confirmation yet of earlier rumors that China's three major telecom operators will also invest funds in the new company. Once established, the Ministry of Industry and Information Technology (MIIT) will release a revised Catalog of Telecommunications Service Categories, and issue a domestic broadband access operator license to China Radio and Television Network.
SARFT previously proposed the government provide RMB 80 bln to finance the new company, but this plan was vetoed.
Editor's Note: For more background on this topic, please see "China's Finance Ministry Invests RMB 4 Bln in National Cable Operator" MD 10/19/12 issue and "Rumor: China Mobile to Invest in National Cable TV Operator" MD 3/07/12 issue.