MUMBAI: China has brought out new regulations for foreign investment, technology and expertise to promote the country's broadcasting and film industry.

Jointly issued by the State Administration of Radio, Film and Television (SARFT) and the Ministry of commerce, the new regulations will allow foreign companies to hold not more than 49 per cent stakes in film and TV production joint ventures.

The SARFT spokesperson has been quoted in media reports as saying, "After three years in the World Trade Organization, China is opening up more areas and loosening restrictions."

Several film and television production companies have been approved by China in the recent past. The latest in this line-up include the Time-Warner - Hengdian Group joint venture (in October 2004) and the Sony Pictures - China Film Group JV (in November 2004).

Some of the foreign satellite channels China has approved since 2001 include China Entertainment TV, Star TV, Phoenix TV and MTV.