BEIJING--The Ministry of Industry and Information Technology is formulating detailed rules and regulations and timetable concerning the access of private investment to China's basic telecommunication service and military defense technology industry, said Li Yizhong, former head of the Ministry of Industry and Information Technology on Sunday.

Li, who is member of the Chinese People's Political Consultative Conference (CPPCC) National Committee, told Xinhua on the sidelines of the Fifth Session of the 11th CPPCC National Committee, in Beijing.

The Chinese government has made it clear that the implementation rules for private investment must be drawn up in the first half of 2012.

Although foreign investment is forbidden to enter China's basic telecommunication service sector, private and overseas investment has already gotten involved as China's three giant telecommunication operators have all been public companies. However, it needs further guidance and regulations for additional access to private capital in this area, noted Li.

Source:cn-c114