FTZ eases telecom rules

Foreign investors registered in the China (Shanghai) Pilot Free Trade Zone are now allowed to own stakes of up to 55 percent in online data and transaction processing businesses, which are mainly for e-commerce, while no limits will be set on the stakes they can own in app stores and online storage businesses, the Ministry of Industry and Information Technology said on Tuesday.

Foreign investors can also set up wholly owned enterprises in the FTZ to operate call centers, multiparty communications, and Internet access services, the statement said.

Such measures are part of China's effort to further open up the value-added telecom services sector in the FTZ.