The China Financial Certification Association, in cooperation with 16 commercial banks, has established an online banking anti-fraud mechanism in the hope of providing a better online banking environment for consumers.

By Perry Wu
On April 25, 2007, Tom Group announced that a proposal to take its Tom Online (TOMO) subsidiary private was approved by shareholders. This is a move that should quickly be replicated in many Chinese Internet companies hoping to have long lives.

The result of China Mobile's (CHL) auction for GSM network upgrades, which was carried out at almost the same time as its TD bidding, has now been revealed.

China Unicom (CHU), one of the two main mobile service providers in China, has completed the recruitment of deputy general managers for the marketing of its G net and C net in 15 provincial branches.

China's National Development and Reform Commission has issued handset licenses to nine companies in the past two months, which has brought the total number of mobile phone manufacturers to over 80.

AT&T (T) has opened an office in Shenzhen to strengthen customer care services to the increasing number of multinational enterprise customers in the southern region of China.

Tom Online's (TOMO) results for the first quarter ended March 31, 2007 show total revenues decreased by 26.0% from the same period last year.

China's online social networking field has welcomed a new member with the launch of the test beta of MySpace's Chinese website.

Content distribution firm ChinaCache has successfully closed its US$31.5 million Series B financing.

Top management from Datang Mobile, one of the core developers of China's home-grown 3G standard, has confirmed to local media that Datang Mobile has received CNY4.6 billion from China Development Bank, CNY1.5 billion of which is interest-free.

Shanghai Telecom has announced the construction of a trans-pacific undersea cable will soon be started as scheduled and the project is expected to be completed and put into operation in 2008.

Chinese Internet search engine Baidu.com's (BIDU) unaudited financial results for the first quarter ended March 31, 2007 show total revenues in the first quarter of 2007 increased to CNY275.6 million, a 103.3% increase from the same period in 2006.

Tom Group's (TOMO) proposal of taking Tom Online private has been passed at the group's shareholder's meeting with 99.3% of the shareholders agreeing on the arrangement.

IBM (IBM) has announced the completion of its first independently constructed client maintenance service center in Beijing and the center has been formally put into operation.

The China Quality Management Association For Electronics Industry, a subsidiary of China's Ministry of Information Industry, is brewing a program called "Excellent China" in an effort to straighten out the disorderly domestic mobile phone market.