China is about to release the first group of licenses for mobile virtual network operators, with electronics conglomerate Suning Commerce Group Co Ltd saying it has signed deals with the country's two telecom carriers.

As new entrants to the once-exclusive telecom industry vie to boost their portfolios, gain public exposure and possibly cash in on the fledgling business, new capital will flow into the sector and improve the quality of service.

Thanks to its first-mover strategy, Suning, whose business spans electronics, retail malls and e-commerce, will move into telecommunications by partnering with China Unicom Ltd and China Telecom Corp Ltd, the company said on Monday.