China Unicom: On July 19th, 1994, China United Communications Co., Ltd. was formally established with the approval of the State Council. The establishment of China Unicom is an important measure to deepen the reform and break the monopoly of China's telecom industry, and it is also a milestone in the history of China's telecom development.
telecom environment: in the late 198s, with the deepening of reform, opening up and modernization, the contradiction between supply and demand of communication became increasingly prominent. Installing a telephone requires approval of notes, finding relationships and going through the back door. Even if you pay thousands of dollars to apply for installing a telephone, you often have to wait for half a year. At that time, the backwardness of telecommunications infrastructure was the biggest bottleneck in the development of China's telecommunications industry.
★ The second stage: from 1994 to 1999-China Unicom cleaned up the "Chinese-foreign" project
China Unicom: China Unicom began to use the "Chinese-foreign" project to network in 1995, * * * involving more than 3 large telecom operators in 11 countries and regions, but this model was very immature, so in July 1999. Taking this as an opportunity, China Unicom clarified the basic context of property rights for restructuring and listing. > > > Read the full text
Telecom environment: First, the combination of active introduction, digestion, absorption and innovation in the telecommunications field has changed the embarrassing situation that China's telecommunications technology is subject to foreign countries. Second, China's telecom industry began to enter the overseas capital market. In October 1997, China Telecom (Hong Kong) Co., Ltd. (later renamed China Mobile (Hong Kong) Co., Ltd.) went public in new york and Hong Kong, issuing shares and raising funds of 4.2 billion US dollars. Third, the number of telephone users has set a new historical record.
★ The third stage: 1999-2-Unicom's overseas listing financing
China Unicom: In June 2, the company successfully listed in Hongkong and new york, raising $5.65 billion, ranking among the top ten in the history of initial public offering in the world. In October 22, the company successfully completed the A-share listing in Shanghai, becoming the largest listed company in the domestic capital market.
Telecom environment: At the end of 1997, China Telecom received a huge sum of US$ 4.2 billion in Hongkong and new york, and the capital market's ability to make waves pointed out a more standardized financing channel for China Unicom. In fact, the enthusiasm of the international capital market for the overall concept of China Telecom has far exceeded people's expectations.
★ the fourth stage: in 22, Unicom's CDMA business began to compete for the telecom market.
China Unicom: on January 8, 22, Unicom's CDMA mobile communication network was officially opened. This system, with an investment of 24 billion yuan in the first phase of the project, will change the situation that GSM technology dominated the country, and make China's mobile communication enter a new stage of competition and development between GSM and CDMA. > > > Read the full text
Telecom environment: In February 1999, the Ministry of Information Industry decided to split and reorganize China Telecom. The former China Telecom was split into three companies, including China Telecom, China Mobile and China Satellite Communication Company, and the paging business was merged into Unicom. In November, 21, China's telecom industry was re-arranged, and China Telecom was split from north to south, forming a "5+1" pattern with China Telecom, China Netcom, China Mobile, China Unicom, China Tietong and China Satcom as the main bodies.