Following the officially launch of China Telecom Shanghai Innovation Incubation Base in March, the phone operator has set up a corporate venturing fund.

China Telecom’s RMB200m ($30m) Esurfing Innovation Technology Company will be managed by the company’s innovation business division and is named after its third-generation network service.

China Telecom was granted its 3G license in 2009. China’s Ministry of Industry and Information Technology in June said the number of mobile phone users in China increased by 32.57 million to…

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