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December 5, 2011 03:05 am

China Telecom Companies Pledge To Stop Monopolistic Practices


hackingbear writes "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 a recently launched investigation, which is the first of its kind against major Chinese state-owned enterprises. Being state-owned companies, their profits supposedly belong to the nation, but they have also become 'golden rice bowls' for their management and employees, and their supervising departments and officials." If the Chinese government would like to investigate these companies' monopolistic behavior, I have a suggestion on where to start looking.

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/NU-_CNxR7Ro/china-telecom-companies-pledge-to-stop-monopolistic-practices

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