According to media reports, China Broadcasting Network Co., Ltd. was officially established in Beijing with a registered capital of 101.2 billion yuan, making it the fourth largest operator in China.
On June 6, 2019, the Ministry of Industry and Information Technology officially issued four 5G licenses, announcing that my country has officially entered the 5G era. In addition to the three operators of China Mobile, China Unicom and China Telecom, China Radio and Television also officially entered the bureau and obtained a 5G license. China Radio and Television also owns the 700Mhz golden frequency band, and will rely on the advantages of the existing radio and television network for 5G construction.
On September 25, 2020, China Radio and Television Network Co., Ltd. completed the industrial and commercial registration and obtained a business license with a registered capital of 10,120,072 million yuan. Among the shareholders of China Radio and Television Network Co., Ltd., in addition to traditional radio and television capital such as China Radio and Television Network Co., Ltd. and Beijing Beiguang Media Investment Development Center Co., Ltd., they also include Hangzhou Alibaba Venture Capital Management Co., Ltd. and State Grid Information Communications Industry Group Co., Ltd., Shenzhen China Merchants Technology Investment Co., Ltd., Jiuquan Iron and Steel (Group) Co., Ltd. and other non-radio and television capital.
Relevant agencies believe that China Radio and Television currently has all the conditions to rapidly promote 5G construction. In the future, the commercialization of 5G services of the radio and television department is expected to accelerate, and the performance of the industry will greatly increase. Related listed companies are expected to usher in continuous improvement in fundamentals. Radio and Television will issue 192 mobile phone numbers.
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China Radio and Television Network Co., Ltd. is funded by the Ministry of Finance of China, and the State Administration of Radio, Film and Television is responsible for the establishment and management, with a registered capital of 4.5 billion yuan. China Radio and Television Network Co., Ltd. is responsible for the related business of cable television networks nationwide, and develops triple play business. In fact, it has been more than two years since the discussion on the establishment of a national radio and television network company.
According to the plan, after the establishment of China Radio and Television Network Co., Ltd., it will integrate the national cable TV network into a unified market entity, and give it business qualifications such as broadband network operations, and become the “fourth operator” after China Mobile, Telecom, and China Unicom. It is also the main body to promote the “three networks” of the radio and television department. China Radio and Television Network Co., Ltd. will first integrate the central and western cable network operators who lack financial strength through administrative means, and finally integrate those already listed radio and television network companies through market means.