China introduces more free-market principles to the telecom industry

The Chinese government has given the country’s state-run telcos more room to determine their own pricing for mobile phones and services, as it looks to introduce more free-market principles in the industry. Prices now can be set by market forces as long as these are deemed legal and fair to customers, said China’s Ministry of Industry and IT and the National Development and Reform Commission in a joint statement, reported Wall Street Journal.