CHINA

Joint Venture Will Build Cellular Phone Network: Singapore Telecom said it has formed a joint venture with a Chinese group to finance and build the network in the Suzhou region of Jiangsu province. Zhong Shan Group of China will hold a 51% stake in the venture, Suzhou Zhong Xing Telecommunication Engineering Development Co. Singapore Telecom will have the remaining 49%. Singapore Telecom will invest about $18 million in the phone network, which is expected to be ready by the first quarter of 1996, covering the eastern part of Jiangsu, which has a population of 5.7 million. Singapore Telecom did not say how much Zhong Shan will invest.