Guangxi Unicom to Openly Recruit Operations Partners from Private Enterprise
China Unicom, 11/14/19
Telecom operator China Unicom (NYSE: CHU; 0762.HK; 600050.SH) announced today that its Guangxi provincial branch "will start to openly recruit socialised operational partners for its seven subordinate prefecture level city branch companies, including Liuzhou branch company." The move, explained Unicom, is part of the company's efforts to actively explore ways to reform the system and mechanism of its subsidiaries, so as to lift the vibrancy of the organization and employees.
Editor's Note: In the context of China's telecom network operations industry, the term "socialized partners" refers to non-state-owned (i.e. private enterprise) partners. In late 2016, China Unicom announced that it was considering implementing a mixed-ownership reform plan in which it would serve as a model case for revitalizing Chinese state firms with private capital; in H2 2017, the plan was approved and Unicom announced a list of participating investors that includes such Chinese private enterprise heavyweights as Tencent (0700.HK), Alibaba (NYSE: BABA), Baidu (Nasdaq: BIDU), and JD.com (Nasdaq: JD). For more background on the mixed-ownership reform plan, please see:
China Unicom Considers Proceeding with 'Mixed-ownership Reform' (MD 10/11/16 issue)
China Unicom Formally Confirms Mixed-ownership Reform Investors (MD 8/21/17 issue)
Keywords: wireless Guangxi Unicom China Unicom telecom private enterprise 0762.HK 600050.SH CHU private investment
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