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China Billionaires Set to Shake Up Largest Wireless Market: Tech

Billionaires Jack Ma and electronics retailer Zhang Jindong may get licenses this month to start phone companies in China, fueling government efforts to cut prices and promote high-speed networks in the world’s largest wireless market.

Chinese leaders this year proposed allowing private companies to use the networks of state-owned carriers China Mobile Ltd., China Unicom (Hong Kong) Ltd. and China Telecom Corp. The potential gains from access to a $213 billion industry prompted Zhang’s Suning Commerce Group Co. to partner with China Unicom; billionaire Jack Ma’s Alibaba Group to seek a license; and Gome Electrical Appliances Holding Ltd. to discuss leases with state carriers.