AVIC Group receives final Chinese government approval to build a nationwide paging network.NEW YORK--(BUSINESS WIRE)--Aug. 12, 1996--AVIC Group International Inc. (OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. : AVIC AVIC Aviation Industry Corporation (China) AVIC Area Veterinarian in Charge AVIC Army Visual Information Center AVIC Avi Codec ) announced today that it has received final Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
Beijing CATCH, an arm of the Beijing municipal government, is already the second largest paging company in China. The newly formed joint venture company is authorized to construct telecommunications networks A telecommunications network is a of telecommunications links and nodes arranged so that messages may be passed from one part of the network to another over multiple links and through various nodes. , manufacture and sell telecommunications equipment and provide maintenance and consultation services to the networks. The joint venture will build a nationwide paging network targeting major urban areas. AVIC and CATCH have set a goal of approximately three million paging subscribers over the next five to seven years. AVIC's chairman Joseph R. Wright stated, "AVIC Group is extremely pleased to enter the world's largest paging market with a PRC partner that has proven expertise in the paging industry. As we've indicated before, we were awaiting final approval in China. Formation of the joint venture company completes this first and necessary step in the build-out of the network. Now AVIC is focused on exploring financing alternatives for the network and managing the rollout. It is our goal to create a significant consumer base in China to which we can provide telecommunications services In telecommunication, the term telecommunications service has the following meanings: 1. Any service provided by a telecommunication provider. 2. and related products." While China is currently the world's largest paging market with around 30 million subscribers, industry observers estimate this market will grow to approximately 70 million subscribers by the year 2000. Paging is the communications tool of choice for the growing Chinese middle class. Like many emerging markets, paging in China has largely been driven by the lack of fixed wire infrastructure and the imperatives of a booming economy. AVIC Group International, Inc. develops and finances telecommunications networks in the People's Republic People's Republic n. A political organization founded and controlled by a national Communist party. of China. CONTACT: AVIC Group International Inc. Cheryl Bell Director of Investor Relations Investor relations The process by which the corporation communicates with its investors. 212/319-9160 or The Cavior Organization Warren J. Cavior 212/687-6070 / caviorg@aol.com |
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