High-tech firm set for funds boost

By Li Weitao | China Daily | Updated: 2007-02-28 07:12

A Datang Telecom stand at an exhibition in Shanghai. Wu Changqing

Datang Telecom Technology Co Ltd, the major developer of a Chinese 3G (third-generation) mobile communications standard, is reportedly set to receive a cash injection from the Chinese government that could help the State-owned firm align its operations.

The Guangdong-based 21st Century Business Herald yesterday reported that the State-owned Assets Supervision and Administration Commission (SASAC) will inject 4 billion yuan into Datang Telecom.

Buoyed by the news, the listed firm rose to its daily limit yesterday although the Shanghai Composite Index recorded its largest-ever daily decrease.

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