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China Telecom is looking for private investors
China Telecom is promoting its 4G technology service in Guangzhou, Guangdong province. The company is looking for private investors to launch services such as online payments and social media.
Through joint ventures with private investors, China's third-largest telecom operator is looking to dilute its state-owned shares as the entire telecom industry in China is tightly controlled by the state. In early May, the leadership of the "Big Three" Chinese telecom operators received instructions to begin reforms against the backdrop of a general decline in the Chinese economy.
According to experts, attracting private capital will help, on the one hand, to weaken the influence of the state on the activities of China Telecom, and on the other hand, it will improve the competitiveness of state assets.