China Telecom to launch financial news service

Dylan Bushell-Embling
22 Apr 2015

China Telecom has signed a deal with mobile and online payment platform provider SmartTrans to offer a financial news and information service for the Chinese operator's subscribers.

China Telecom plans to offer a subscription financial news service named Love Finance, which will be made available to 5 yuan ($0.81) per month.

Through the service, which is due to launch in May, China Telecom and SmartTrans aim to capitalize on the booming interest in share trading and persona finance in China.

SmartTrans will provide content management sourced from the Ta Kung Pao newspaper, while China Telecom will take responsibility for integrating and launching the product for its customers.

A long-serving former China Telecom executive is meanwhile being investigated in a graft probe.

The government's Central Commission for Discipline Inspection (CCDI) is investigating former China Telecom president and chief engineer Leng Ronguan on suspicion of “serious violations of the law,” the agency said.

Reutersnotes that the phrase “serious violations of the law” usually connotes a graft probe.

China's anti-corruption investigators started scrutinizing China Telecoma and China Mobile earlier this year after a probe into rival China Unicom turned up alleged incidences of graft.

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