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China Telecom Pledged to Stop Monopolistic Practic

hackingbear (988354) writes | more than 2 years ago

China 0

hackingbear (988354) writes "Within a few weeks after the anti-monopoly probe initiated by the National Development and Reform Commission, China's two telecommunications giants, China Telecom and China Unicom, announced Friday they will substantially raise their broadband speeds while further lowering broadband costs by 35% over the next five years. They also acknowledge the existence of monopolistic practices in reply to this investigation which is the first of its kind against major Chinese state-owned enterprises. Being state-owned companies, their profits are supposedly belonging to the nation, but they also become the "golden rice bowls" for their management, employees, and their supervising departments and officials. Luckily, inter-department politics can bring in some level of check and balance in a strange way."
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