China Telecom Corporation Limited (CT), doing business as China Telecom, is a Chinese telecommunications company.[5] It is one of the publicly traded red chip companies of the state-owned China Telecommunications Corporation.
The company's H shares have been traded on the Stock Exchange of Hong Kong since 15 November 2002.[6] It is a constituent of the Hang Seng China Enterprises Index, the index for the H shares of state-controlled listed companies. The company was also listed on the New York Stock Exchange until January 2021. China Telecom is the second-largest wireless carrier in China, with 362.49 million subscribers as of June 2021.[7]
History
China Telecom Corp., Ltd. was incorporated on 10 September 2002 as a limited company[3] in order to float some of the assets of the group on the stock exchange, specifically the wireline telecommunications businesses in Shanghai, Guangdong, Jiangsu, and Zhejiang, as well as other assets from the parent company.[3]
In 2003, China Telecom acquired businesses in Anhui, Fujian, Jiangxi, Guangxi, Chongqing, Sichuan, as well as other assets for CN¥46 billion.[3] In 2004, it acquired businesses in Hubei, Hunan, Hainan, Guizhou, Yunnan, Shaanxi, Gansu, Qinghai, Ningxia and Xinjiang and other assets for CN¥27.8 billion.[3][8]
China Telecom was among six state-owned companies that built the communications infrastructure and assisted in financing the Ministry of Industry and Information Technology's Connecting Every Village Project, which began in 2004.[9]
Subsidiaries
Equity interests
- Besttone Holding (6.13%)[36]
Shareholders
See also
- List of largest companies by revenue
- List of telecommunications companies
- List of telecommunications regulatory bodies
External links
References
- 中国电信总裁兼首席运营官杨杰接替常小兵 中国经济网, re-published by cnr.cn, 31 December 2015, retrieved 26 July 2017^
- RESIGNATION OF DIRECTOR AND CHANGE OF IMPORTANT EXECUTIVE POSITION China Telecom, 7 June 2017, retrieved 26 July 2017^
- 2016 Annual Report China Telecom, 6 April 2017, retrieved 26 July 2017