China Unicom's Market Value Estimated at US$50.8 BillionA spokesman from the Bank of China International Holdings Ltd estimated the current market value of China Unicom at nearly US$50.8 billion, with a share price of HK$30.3.China Unicom's market value is expected to rise 13-fold in the near future. Share prices were predicted to rise to HK$30.3 in 2001. Thirty-two per cent of new domestic mobile telephone subscriptions were received by China Unicom in the first half of the year 2000. The company's total number of subscribers is forecast to increase 20 per cent in the year 2000, with a 55 per cent growth in profits before interest, tax and depreciation in the next two years. Business from mobile communications is predicted to contribute 70 per cent of China's Unicom's annual profits before interest, tax and depreciation in the next two years. The annual turnover from long-distance telephone calls and digital business is forecast to increase 74 per cent in the future. New regulations promoting the development and increasing competition between telecommunications servers launched by the Chinese government have placed China Telecom in a favourable position, as it is the only comprehensive telecommunications service provider in China. The company has expanded its mobile communication network and launched pre-paid phone cards. |
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