Shares of mainland telecom equipment firms rose yesterday after the Ministry of Industry and Information Technology said it is studying the launch of a fifth-generation mobile network with more mobile phone licenses to be issued soon.
Suning, along with Gome (0493), both home appliance retail chains that have applied to become so-called virtual mobile network operators, will each receive a license, said Zhang Feng, director-general of the Communications Development Department.
The two firms will rent spectrum from existing carriers such as China Mobile (0941) and distribute services at their own prices. The mobile virtual network operators will have to set up their own base stations.
Shares of equipment makers ZTE (0763) and COMBA (2342) rose 5.5% and 7.2% respectively yesterday.
Zhang also revealed that 11 ministries have jointly handed in the “Broadband China” proposal to boost internet speed across the nation.
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