China Telecommunications Corporation

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China Telecommunications Corporation (China Telecom) is an extra-large state-owned telecom operator organized according to China's telecom industry reform scheme. As a principal telecom enterprise and the greatest basic telecom operator of China, China Telecom owns the global largest fixed-line telephone network that covers the cities and towns as well as the rural areas of China and penetrates to every corner of the world. Member units of China Telecom include 31 provincial (municipal and autonomous regional) enterprises which provide telecom services nationwide.
Managed by the central government of China, China Telecom is an experimental state holding corporation in that investment channels are subject to the approval by the State Council. With a registered capital was 158 billion yuan (RMB), China Telecom's main businesses currently include: operating various kinds of domestic and international fixedline telecom networks, including local wireless loops; providing telecom network-based voice, data, image, multimedia and information services; carrying out account settlements for international telecom services and developing overseas markets; carrying out some services which are related to telecom and information businesses such as system integration, technology development, technical service/advice, information service consultation, advertisement and publishing; production, sales, import and export of telecom equipment; designing and implementing telecom projects; operating other services which are required by the market development provided that provision of such services would have been authorized or permitted by the government of the country.


In 2002, China Telecom accomplished the restructuring of the telecom business assets and the telecom system reform of its Shanghai, Jiangsu, Zhejiang and Guangdong Corporations and on 10 September 2002 established China Telecom Corporation Limited. On 14 and 15 November 2002, the corporation successfully completed its initial public offering (IPO) at New York and Hong Kong stock exchanges and this indicates that China Telecom has entered a new period of healthy development. In December 2003 and June 2004, China Telecom Corporation Limited acquired the telecom assets in Anhui and other five provincial corporations of China Telecom. Since the acquisition, the businesses of China Telecom Corporation Limited have covered 20 provincial regions and China Telecom has entered a new era of healthy development.


In 2002 when it was inaugurated, China Telecom was selected by the Fortune as one of the "World's Most Admired Companies" and in 2003 was so selected again. Among several hundreds of selected enterprises of the world, China Telecom was ranked the 9th that was a greatest honour among China's telecom operators at that time. According to the 2003 evaluation done by the "telecomasia", an authoritative specialized magazine, China Telecom was granted with the honourable title "Best Emerging Market Carrier" by scores of an overwhelming superiority. In the "Asia's Investor Relations" (IR) evaluation done by the Institutional Investor magazine, China Telecom Corporation Limited was granted with its "2003 IR Awards". In the evaluations done by the Forbs in 2004 and 2005, China Telecom was honoured as one of the" Top 500 Companies of China's Enterprises". In 2004, in the evaluation for Asia's best managed companies done by the EUROMONEY magazine, China Telecom was selected as "The Best Managed Company in China". In 2005, in its evaluation for Asia investor relations, the Institutional Investor selected Wang Xiaochu, Chairman and Chief Executive Officer of China Telecom Corporation Limited as "The Best CEO in China 2005". In 2005, China Telecom was awarded by the EUROMONEY "The Best Managed TelecommunicationsCompany in China" in its "Asia's Best Managed Companies" ranking.

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