The award makes Phoenix, which is 37.6 per cent owned by Rupert Murdoch's News Corp, the first foreign-owned Chinese-language station allowed to broadcast 24-hours of current affairs and news in the country.
However, Phoenix news broadcasts will only be permitted in hotels with a three-star or higher rating and diplomatic compounds. Phoenix currently operates two movie channels in China.
The company's news channel Info News, which began operations in January 2001, had been seeking approval for China broadcast rights since its launch.
Media analysts expect the latest landing rights will boost advertising revenue for the loss-making channel.
According to a spokesperson for Phoenix, the channel attracts "highly-educated, highly-placed professional with high incomes".
The company's reports also show that advertising revenue for Phoenix Chinese Channel increased 53 per cent on average over the last five years, and had a coverage of 40 million households in the country.
Phoenix began broadcasts in Hong Kong via cable early last year.
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