With the advent of the 2010 World Expo, to be held in Shanghai, China Telecom has recently entered into a two-year cooperation agreement with the Shanghai municipal government, the Sina Tech News reported on April 29. Pursuant to the agreement, China Telecom will earmark 26 billion RMB (US$3.82 billion; US$1=6.8 RMB) into the IT network deployment in Shanghai over the next two years. Of total investment, 13 billion RMB (US$1.9 billion) will be set aside for the IT Infrastructure deployment, including the deployment of undersea fiber optic cables, information service centers, and Wi-Fi (Wireless Fidelity) spots. Under the tie-up, China Telecom will help the government upgrade broadband network connection while increasing job vacancies. Furthermore, China Telecom also plans to upgrade the FTTH (Fiber-to-the-Home) network service to offer 20Mbps upstream speeds by 2010, up from 2Mbps in 2009, according to the same source.