China’s leading online media company Sina (NASDAQ: SINA) announced a partnership with ISP China Telecom to launch video sharing platform Sina-Vnet Podcast. The co-branded site will be hosted on Sina.com but accessible also through China Telecom’s Vnet.cn portal. According to Charles Chao, the CEO of Sina, this partnership will allow the company to provide a scalable video sharing solution without the constraint of limited bandwidth and related costs.

China Telecom, China’s largest Internet service provider, reached an agreement with Google to use the latter company’s AdSense technology to sell online advertising on over 400 regional portal sites owned by China Telecom.

China Telecom announced that it will sell 37 of its non-core businesses across 12 provinces. The total value of these assets is estimated around $34 million. Local sources believe the sale is part of the company’s effort to restructure the company to focus on its core business and strive for a share in the upcoming 3G market in China.