China Mobile to Establish Third-Party Payment Platform

Caijing.com.cn, 3/03/11

Wang Jianzhou, chairman of China Mobile (NYSE: CHL; 0941.HK) and member of the Chinese People's Political Consultative Committee (CPPCC), today revealed during an interview at the CPPCC session in Beijing that China Mobile has applied for a third-party payment license and is preparing to establish a third-party payment platform in partnership with financial institutions.

Wang added that China Mobile plans to launch scalable 4G trials in seven cities.

Editor's Note: For more background on these topics, please see "Rumor: China Mobile Applies for Third-Party Payment License" MD 3/02/11 issue, and "TD-LTE Trials Begin in Six Chinese Cities," MD 1/19/11 issue.

Keywords: mobile payment Wang Jianzhou China Mobile telecom 4G CPPCC CHL TD-LTE third-party payment 0941.HK

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