Nov 19, 2012
China's Ministry of Industry and Information Technology (MIIT) has drawn up a detailed draft plan for trials to encourage private capital investment in China's telecom sector, according to an industry source, and will soon solicit feedback from relevant parties with the goal of publicly releasing the plans by the end of this year.
At the November 18 Golden Resource Advertising Auction for television advertising slots on China Central Television (CCTV), Gome (0493.HK) VP He Qingyang said that the Chinese home appliance and consumer electronics retailer has drafted a five-year development strategy beginning in 2013 that will see the company shift to a multiple-channel strategy with three main channels.
Chinese telecom equipment and terminal manufacturer ZTE (0763.HK; 000063.SZ) has announced that the company will sell its 81% stake in electronics and telecommunications components developer and distributor Changfei Investment to communication application solution provider Guangdong All Access and China Construction Bank International (CCBI).
China Mobile (NYSE: CHL; 0941.HK) has recently increased sales of non-operator-customized TD-SCDMA handsets, according to an industry source, and will soon convene a meeting of its handset vendor partners to outline cooperation methods, management workflow, and policies and standards regarding non-operator-customized handsets.
Lin Ning, CEO of Beijing-based group buy site operator Wangluo Tianxia Shenghuo Technology (GroupNet), has responded to rumors that the company's website Gaopeng has partnered with Tencent's (0700.HK) Weixin (Wechat) mobile messaging application to launch a "Micro Group Buy" platform, revealing the platform is in closed beta testing.
Chinese internet giant Tencent's (0700.HK) third-party payment platform Tenpay and American Express have launched the "Tenpay-American Express International Account" online payment service, hosted on Tenpay's platform and supported by American Express' infrastructure, as part of their strategic partnership.
Wang Bin, secretary general of the Internet Society of China's mediation center, said at a November 17 seminar on lawsuit- and non-lawsuit-based mechanisms convened by the Xicheng District People's Court in Beijing that she places great hopes in a new online dispute coordination and resolution mechanism established by the ISC in partnership with the Xicheng District People's Court.
He Haiming, deputy director of advertising operations at China Central Television (CCTV), announced on November 18 that the state broadcaster's 2013 "Golden Resources Advertising Auction" event had pre-sold more than RMB 15.88 bln worth of ads, up 11.39% from 2011's auction for 2012 advertising slots.
Chinese consumer electronics and home appliances retailer Suning (002024.SZ) received notice today that the Suning Appliance Group, Suning's second-largest shareholder, increased its stake in the company by 67.94 mln shares for RMB 428 mln purchased on the Shenzhen Stock Exchange between August 16 and November 15 at an average price of RMB 6.29.
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