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MOC Disappointed In Growth Of Internet Cafe Market
Tags: 0762.HK, CHU, CY Network Home, Capital Network, China Unicom, Internet, Minsitry of Culture, Read Online, Tuo Zuhai,
China's Ministry of Culture (MOC) marketing department vice manager Tuo Zuhai said on March 29 that the expansion of Chinese Internet cafe chains has been slower than MOC expected, reports 21st Century Business Herald. China's Ministry of Culture licensed ten enterprises, including China Unicom (NYSE: CHU; 762.HK), Read Online, CY Network Home, and Capital Network, to operate Internet Cafe chains in China in June 2003, but only five new licensed Internet cafe chains have been set up in the past three years, accounting for only ten percent of China's Internet cafes nationwide. An insider said the Ministry of Culture plans encourage more competition in China's Internet cafe market.
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