China will accelerate development of its high-speed broadband networks to raise Internet speeds and cut prices, long bugbears in a country where many people still have no access to the web. Telecoms firms should make rapid moves to cut prices and increase urban broadband speeds by around 40 percent, according to a statement issued late on Wednesday by China's State Council, the country's cabinet. China's investment in broadband could benefit global network equipment makers such as Ericsson and Nokia Oyj's Alcatel-Lucent, as well as home-grown players like Huawei Technologies Co Ltd [HWT.UL] and ZTE Corp.
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China aims to boost Internet speeds, cut prices