The iPhone 5 is on track for a December launch in China, having just been approved by the country’s State Radio Management for use on the country’s wireless networks, which are compatible with China Unicom and China Telecom, the second and third-largest carriers in the market. The final hurdle for the iPhone is the Ministry of Industry and Information Technology’s network access license. It still seems unlikely that the iPhone will be available on China Mobile, which accounts for about 70 percent of mobile subscribers in China. [Source: AllThingsD]