China cautiously opens up to foreign investment in telecoms and online businesses

If you’re a telecoms or online firm that’s been itching to invest in China, now’s your chance – as long as you’re happy to set up shop in the new Shanghai Free Trade Zone (FTZ), a kind of sandbox lab for Chinese market liberalization. On Tuesday state-owned outlets CRI and Xinhua reported that foreign investors will be able to own up to 55 percent of the e-commerce operations of “data-processing companies”, and as much as they like of app store, home internet access and “multi-party communications” companies. Most services can be offered country-wide, though foreign-owned ISPs will only be allowed to operate in the FTZ for now.