| The telecom industry, as a leading industry in the economic development of China, plays an important role in the rapid growth and informationized process of national economy. So a healthy, steady, and sustainable development of the telecom market is significant to building well-off society in all-round way and expediting to advance socialist modernization. With continual economic growth and the advancement of telecom technology, the telecom industry in China is progressing as well and undergoing privatization. So far, there have been two critical reorganizations in the telecom industry, leading to the current three key market players. However, the privatization of telecom industry in China still falls behind the overall development of national economy and the same process in developed countries.Against the global trend of privatization of telecom industry, in particular with the impacts of the financial crisis, privatization of the telecom industry has become tough challenges facing China's telecom market and even the healthy growth of the country's economy. It has also become a hot topic in the theoretical filed. In this sense, it is significant to conduct a qualitative study, theoretical or empirical, in order to figure out how developed countries privatized their telecom industry and finally suggest appropriate ways for this process in China. To fulfill that purpose, the present study starts with related theories and then analyzes the privatization of telecom industry in US, UK, and Japan in terms of their history, government regulation, property right structure, and market structure. Chapter Two defines the term of privatization and the scope of telecom industry. In the present study,"privatization"is not in the traditional sense; instead, it is a broader term including reduced government influence, such as deregulation, diversity of property rights, tougher competitive market structure, and so on. In other words, it highlights the impacts of various factors such as regulation, competition mechanism, and property right. The"telecom industry"in this study refers to a relatively narrow scope, i.e. the operation field of telecom. Chapter Three reviews and applies theories related to privatization of telecom industry, they are, the natural monopoly theory, economics of regulation, property economics, and the theory of industrial organization. Furthermore, by comparing reforms related to the privatization of telecom industry in US, UK, and Japan, Chapter Three figures out their merits and demerits, and highlights the comparative advantages and disadvantages of the competitive conditions of the telecom industry in China. Chapter Four, from the history of the privatization of telecom industry in the three developed countries, points out that privatization is an essential factor for the rapid and continual growth of telecom industry.Chapter Five analyzes the regulation models for the telecom industry privatization in US, UK, and Japan and finds out that they are respectively market-based, government-guided, and government-based. It also finds out that the transformation of regulation models has helped to improve the efficiency of telecom industry, reduce the prices of telecom services, popularize the telecom industry, and therefore better grow the telecom industry. Chapter Six studies the property right structure during privatization in the three countries, figuring out that clear property right structure plays an active role in promoting operation efficiency for the enterprises and the economic development for the entire country. Chapter Seven is focused on the market structure of telecom industry in the three countries. It compares factors that affect the transformation of market structure and characteristics and development trend of telecom market structure. This chapter concludes that it is a trend for global telecom market to become more open for competition; however China's telecom market currently lacks effective competition mechanism or government regulation policies, and it frequently sees vicious competition. So it is hoped that, by analyzing the practice in US, UK, and Japan, the present study will provide guidance for the privatization of telecom industry in China.After the overall analysis of practice in US, UK, and Japan, the last chapter proposes to privatize China's telecom industry in a"trinity"manner. To put it more specifically, the process needs to get involved the government, the market, and enterprises, combining the privatization of telecom industry with reforms related to government regulation, market structure, and property right structure. Besides, it is necessary to make advantages to of various means, such as financing by public listing, state-owned while private-run mode, joint venture, and direct engagement of private enterprises. This chapter also demonstrates that the current telecom industry policies in China are effective and reasonable for the healthy and rapid growth of this country's telecom industry.The study finally comes to the following conclusions. First, the privatization of telecom industry in US, UK, and Japan is the inevitable result of development. Second, one of the remarkable characteristics of the telecom industry is that monopoly and competition co-exist. The monopoly may lead to ineffective competition; however, without it, the operation may lost strength and becomes ineffective. Third, it is inevitable that China's telecom industry will transit from monopoly to competition. Yet there is not any effective competition mechanism; nor are there any potential effective competitors. By drawing the practice of US, UK, and Japan in the privatization of telecom industry, the study finally figures out patterns and development trends of global telecom industry and the means as well as targets for privatization of telecom industry in China. Only with"trinity"efforts of government, market, and enterprises can the privatization of telecom industry in China proceed successfully and ultimately promote the sustainable development of telecom industry.
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