WSJ reports China's wireless carriers will invest $40 billion in advanced third-generation networks over the next two years, a top official said, in what could be a boost for China's domestic telecommunication-equipment industry. Speaking Friday, Li Yizhong, minister of industry and information technology, predicted at an industry conference that China will spend 280 billion yuan, or about $40 billion, on 3G networks over the next two years. However, Mr. Li also said that the government would provide "strong support" to China's homegrown 3G technology, known as TD-SCDMA, which is being adopted by China's largest carrier, China Mobile (CHL). The other two global 3G standards, WCDMA and CDMA2000, were developed overseas. That statement reinforces expectations that a greater share of sales for the new 3G networks will go to domestic companies than in the past.