Phoenix Satellite Television entered the radio broadcasting business in 2005. In less than one year of this development, Phoenix had reached joint-venture agreements with a number of broadcasting entities across China and has established radio broadcasting networks with radio stations from Beijing, Guangdong, Guiyang, Qingdao, Haikou, Wuhan, Foshan, and Weifang among other places. Phoenix has already established a market-leading, multi-dimensional model that draws on the best radio broadcasting resources from both mainland China and abroad.