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MIIT to Lower Capital Requirements for Telecom Companies

ChinaByte, 3/09/09

The Ministry of Industry and Information Technology (MIIT) has announced that from April 10, it will reduce by half the registered capital requirements for businesses applying to operate basic telecommunication services. It has also increased fines to between RMB 5,000 and RMB 30,000 for any business that obtains a telecom operation license through inappropriate means. In addition, the business will have its license revoked and will not be allowed to reapply for a new license for a minimum of 3 years.

Keywords: regulation license MIIT telecom

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