China Sets Up Two Giant Groups in Telecom Sector

Help | Sitemap | Archive | Advanced Search | Mirror in USA



CHINA BUSINESS OPINION WORLD SCI-EDU SPORTS LIFE FEATURES PHOTO GALLERY
	INTERACTIVE
	Message Board
	Feedback
	Voice of Readers
	China Quiz





	China At a Glance
	Constitution of the PRC
	State Organs of the PRC
	CPC and State Leaders
	Chinese President Jiang Zemin
	White Papers of Chinese Government
	Selected Works of Deng Xiaoping
	English Websites in China



	Help About Us SiteMap Employment
	MIRROR

	U.S. Mirror Japan Mirror Tech-Net Mirror Edu-Net Mirror

Friday, April 21, 2000, updated at 11:25(GMT+8)

Business

China Sets Up Two Giant Groups in Telecom Sector

After more than two years of deliberation and preparations, the China Telecommunications (Group) Co. and the China Mobile Telecommunications (Group) Co. jointly announced their establishment on April 20.

Speaking at the inaugural meeting Thursday, Minister of Information Industry Wu Jichuan said that the establishment of the two groups marks the strategic restructuring and a new breakthrough in China's telecommunications industry.

"This is a big event in the history of China's telecommunications development, it will surely play an active role in accelerating telecommunications development, promoting an information-oriented national economy and raising the competitiveness of China's information industry in the international market," he said.

The registered capital of China Telecommunications (Group) Co. and the China Mobile Telecommunications (Group) Co. is 220 billion yuan and 51.8 billion yuan, respectively, both ranking among the country's State-owned extra-large companies.

Wu said that the leadership of the two companies has been ratified by the State Council.

According to Wu, China's telecommunications industry has been developing rapidly in recent years, giving a great push forward to the country's opening up and reform drive and modernization construction. The restructuring of the telecommunications sector over the past few years has improved the competing and development capability of the industry as a whole.

Last year China's telecommunications industry realized a growth of 24.6 percent in business revenues, ranking forefront among all industries.

He said that the two companies will operate independently. The Ministry of Information Industry will play an administrative role to step up its macro-control and guidance functions over the whole industry.


Print	Discuss It

In This Section



	After more than two years of deliberation and preparations, the China Telecommunications (Group) Co. and the China Mobile Telecommunications (Group) Co. jointly announced their establishment on April 20. The registered capital of China Telecommunications (Group) Co. and the China Mobile Telecommunications (Group) Co. is 220 billion yuan and 51.8 billion yuan, respectively, both ranking among the country's State-owned extra-large companies.




Advanced Search


	Telecom Industry Should Be Open to Private Firms Telecom sector requires further reform