Mainland Enterprises HK Listing Standardizes Development: UnicomChina Unicom said on January 17 that mainland enterprises listing in Hong Kong standardizes their development.Shi Cuiping, executive director and standing vice-president of China Unicom stated that his company has been cited as one among the 100 excellent companies of the world and awarded three exceptional prizes by the Hong Kong and Shanghai Banking Corporation and by the Asia Finance magazine. China Unicom has by its commendable performance achieved speedy success in development. He said that Unicom has now been developed with a customers directory of over 12 million, a rise of over 8 million from 4 million since it went public in last June and a mainland market share of 22 percent from 14.4 percent in 1999. Also, Unicom has come to have the largest paging network and a dominating directory of over 44 million customers in China and the world as well. Service license has also been granted by the Office of HK Telecommunications Authority in commendation of China Unicom expanding its operations dealing in with external fixed cable network in Hong Kong. Shi said that the general strategy of China Unicom eyes business of high growth rate and high profits for maximum returns from the telecom sector. He also said that China Unicom has been thinking over choosing strategic investors since its listing. Tan Xinghui, executive director and vice-president of China Unicom added that Unicom may raise its value in the capital market and further exploit the international market through choosing strategic investors. He also said that mainland enterprises HK listing may help collect money from markets in Hong Kong and develop themselves with improved management and updated international standards on a par with those abroad. By PD Online staff member Deng Gang |
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