Phone, net charges to be slashed

　　(TOKYO)—China's Ministry of Information Industry, t he State Planning Commission and the Ministry of Financ e announced that the country's long-distance and overse as telephone rates and Internet connection charges will be drastically revised on Jan 1, 2001.

　　China's telecommunications industry is under strict state control, and phone charges, especially those for long-distance and overseas calls, have been shielded fr om the price pressure many domestic businesses have bee n facing since a market-style economy was introduced in the socialist country.

　　The government decided to slash the charges, which remain relatively high, so domestic telecommunications companies will be able to compete against foreign rival s, who will be allowed to enter the Chinese market when the country becomes a member of the World Trade Organiza tion (WTO), probably in 2001.

　　(Maeil Business Newspaper, Korea)