China’s Ministry of Industry and Information Technology confirmed that the country will issue third generation (3G) mobile licences by the end of 2008 or early next year.

Minister Li Yizhong said at a media briefing that China Mobile, China Unicom and China Telecom have prepared well for 3G licensing. “After the proper procedures, we will grant the 3G licences by the end of this year or early next year as promised.” Li estimates that network investment of the three major Chinese telecom operators will amount to over $29 billion, which will stimulate China’s economy and help to fend off the financial crisis.

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