BUSINESS China approves 266 overseas-invested telecom companies

BUSINESS

China approves 266 overseas-invested telecom companies

Xinhua

19:47, July 12, 2020

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(File photo: social media)

BEIJING, July 12 (Xinhua) -- A total of 266 overseas-invested telecommunications enterprises had been approved by authorities by the end of June, according to a report from the China Academy of Information and Communications Technology.

In terms of overseas capital sources, about two thirds came from Hong Kong, followed by the United States and Singapore, with the three accounting for 79 percent of the total.

Among the 266 enterprises, 78 are wholly owned by overseas investors, accounting for 29 percent.

The enterprises provide information services, online data processing and transaction processing, and domestic call center services, among others, the report said.

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