China Telecom launched a hybrid ownership reform and announced that it will drive business models in a more market-oriented manner by introducing external strategic investors, financial investors, and employee stocks in emerging businesses and ICT (information and communication technology) businesses. A quick breakthrough.
At the "China Telecom Cooperation Open Conference" held in Beijing on the 13th, Wang Xiaochu, chairman of China Telecom, said that in 2014, China Telecom will increase its open cooperation and take a mixed ownership economy as a guide to change the single development model that relies solely on self-accumulation. In the key areas that need to introduce capacity, capital, and innovation vitality, we try to create an emerging business operation pattern through multiple capital operation methods.
Wang Xiaochu said that in the field of telecommunications business innovation in the field of Internet applications, ICT, cloud computing, big data, etc., through the holding, shareholding, mergers and acquisitions and other modes, and further expand cooperation with partners.
Recently, China Telecom has set up a capital operation department to build a capital operation platform, and improve the authorization system for capital operation to speed up cooperation.
Li Anmin, general manager of China Telecom's innovative business unit, said that this year, two or three companies will be selected in China Telecom Group for mixed economic cooperation, including its subsidiary “No. 100 Informationâ€.
The conference held four sub-forums in the same period, including the Yixin Forum, the Innovation Incubation Forum, the Internet Finance Forum, and the ICT Forum for Government and Enterprise. These four areas are the key business areas of China Telecom's current open cooperation.
Huang Shuhe, deputy director of the State-owned Assets Supervision and Administration Commission of the State Council, said at the meeting that the reform of mixed ownership is the highlight of the deepening reform of central enterprises. This conference marks that China Telecom will start a new round of reform after the Third Plenary Session of the 18th CPC Central Committee, which will expand state-owned assets and society. Capital cooperation, perfect corporate governance structure and innovative institutional mechanisms through mixed ownership.
Huang Shuhe said that the State-owned Assets Supervision and Administration Commission (SASAC) is very welcoming all types of enterprises, various types of capital, and various strategic investors to actively participate in the reform of equity ownership of central enterprises, and to strengthen and expand national enterprises.
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