In a major policy shift, the Chinese Government will repeal a rule barring the cable television and telecommunications industries from each other's businesses. Upon receiving a license, cable TV operators are now allowed to offer internet services, while telecoms companies will be allowed to offer television services.
The policy shift signals a green light for foreign companies seeking to tap into China's booming telecoms and internet markets. Analysts believe that companies which already have cable network operations in China, including Shanghai Industrial 363 and Shum Yip Investment 604, will be direct beneficiaries. The implications for CITIC Pacific 267, on the other hand, are mixed.
Liu Cai, director general of policy for the...
