A report by The Wall Street Journal tells that a Chinese carrier named China Telecom has somehow been able to unlock the CDMA based Verizon iPhone 4 to run on their own native CDMA network. Details on that, after the break.

A screen shot from a Sina Weibo account registered to the Guangzhou branch of China Telecom shows an image of what appears to be a Verizon Wireless iPhone4 next to a Guangzhou China Telecom employee badge. The Chinese text above reads: “CDMA iphone4 registered, for the first time we invite everyone to feast their eyes!!!”
Previously we've already reported the fact that this happens to be a world phone as there is a CDMA & GSM dual mode chip on the Verizon iPhone 4. However, let us wait and see if people from the iPhone Dev-Team come up with an unlocking solution for the Verizon iPhone 4, you can only jailbreak it as of now, that may enable the device to run on other CDMA networks, such as Sprint in the United States.
Stay tuned as we shall let you know once updates roll in.