China issued long-anticipated third-generation mobile phone licences Wednesday, state media said, a move that is likely to set off a new round of investments in the world's largest cellular market.

The licenses cover three standards, including the domestically developed TD-SCDMA, Europe's WCDMA and North America's CDMA 2000, Xinhua news agency said, citing the Ministry of Information and Technology.

Xinhua did not immediately report which companies had been awarded the licences.