Dai Qian/Shanghai Daily news

Shanghai stocks edged up yesterday led by 3G-related companies on news that China has chosen the home-grown TD-SCDMA as the national standard for the nation's third generation technology.
The Shanghai Composite Index, which groups both yuan-dominated A shares and hard-currency B shares, inched up 0.04 percent to 1,255.77. The A-share index slipped 0.03 percent to 1,316.64 while the B-share index added 0.43 percent at 85.83.
The Ministry of Information Industry announced last Friday that TD-SCDMA will be the 3G telecommunication standard for China.
Currently the European-developed WCDMA, the US-developed CDMA2000 and TD-SCDMA are the three international standards for 3G technology. TD-SCDMA, as a homegrown standard, was developed and proposed to the International Telecommunication Union in June 1998. The standard was then adopted by the ITU as one of the international standards in May 2000.
Sources disclosed that networks have been built in Shanghai and Beijing, according to China Securities Journal. They also said smaller cities like Jiaxing, Tangshan, Yangzhou and Qinhuangdao are next on the list to construct 3G networks.
Shares of telcos were snapped up yesterday as confidence was boosted by the announcement. "This is obviously good news for telecom companies which have been hot since late last year as the government is supporting the sector heavily," said Zhang Qi, an analyst at Haitong Securities Co.
Datang Telecom Technology Co Ltd, the major developer of the TD-SCDMA standard, closed as the biggest gainer at 6.54 percent to 8.96 yuan (US$1.11). The stock has risen 15 percent within a month.
"The stock has dropped over the last five to six years from over 30 yuan and now it's time to rebound with the good news," said Zhang.
Other gainers included Jiangsu Yongding Co Ltd, which added 5.57 percent to 3.98 yuan and Shenzhen Zhongxing Telecom Co Ltd which rose 3.32 percent to 28.63 yuan.