China recently revealed its plans to launch an advancement of the broadband internet network in order to increase speed and cut off cost at the same time, according to the State Council via BBC Network.

Only less than half of China's population has access to the internet and some of them face the difficulty of using it due to slow connection.

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Li Keqiang, China's Premier, urged other telecommunication companies to downgrade their prices and increase their speed at the same time for the benefit of the users, according to a member of China's cabinet in the State council.

Li further added that companies should abolish data charges for Chinese tourists but retracted the statement by saying it is the country's prerogative to make that decision.

"China has more cell-phone users than any other country, but its internet service speed ranks below 80^th in the world due to underdeveloped information infrastructure," said Li Keqiang in a statement.

China's Premier stated that there will be infrastructure improvements to 'boost' investment and support in China.

Li elucidated that broadband companies' suggested a 40-percent speed increase and cut prices in return.

The country's investment in broadband can entice potential investors. This move can also benefit international network makers such as Ericsson and Nokia Oyj's Alcatel-Lucent. Local network companies such as ZTE and Hua Wei Technologies can also benefit from this plan.

There is neither financial plan nor a budget proposal to fund this project as of the moment but the officials have previously proposed the amount of approximately 2tn Yuan targeted to improve China's broadband by 2020.

The influence of internet in China is still not extensive as the statistics show that the internet penetration rate is only 47.9 percent last year, with weak internet connections in remote areas.

Tagsunravels, ambitious broadband goals