China Telecom Corporation Limited(CT) is a Chinese telecommunications company.[5]It is one of the publicly tradedred chipcompanies of thestate-ownedChina Telecommunications Corporation.
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Native name | Trung Quốc điện tín cổ phần công ty hữu hạn | ||||
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Company type | Public | ||||
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ISIN | CNE1000002V2 | ||||
Industry | Telecommunications | ||||
Founded | 10 September 2002 | ||||
Founder | China Telecommunications Corporation | ||||
Headquarters | Beijing, China ,Shanghai China | ||||
Area served | China, Europe and the Americas | ||||
Key people |
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Services | |||||
Revenue | ![]() | ||||
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Total assets | ![]() | ||||
Total equity | ![]() | ||||
Owner | China Telecommunications Corporation(70.89%) | ||||
Number of employees | 287,076[3]: 85 (2016) | ||||
Parent | China Telecommunications Corporation | ||||
ASNs | |||||
Traffic Levels | 1-5 Tbps[4] | ||||
Website | ChinaTelecom-H ChinaTelecomGlobal ChinaTelecom.cn | ||||
Footnotes / references in aconsolidated financial statement[3] |
China Telecom Corp., Ltd. | |||||||
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Simplified Chinese | Trung Quốc điện tín cổ phần công ty hữu hạn | ||||||
Traditional Chinese | Trung Quốc điện tín cổ phần công ty hữu hạn | ||||||
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China Telecom | |||||||
Simplified Chinese | Trung Quốc điện tín | ||||||
Traditional Chinese | Trung Quốc điện tín | ||||||
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The company'sH shareshave been traded on theStock Exchange of Hong Kongsince 15 November 2002.[6]It is a constituent of theHang Seng China Enterprises Index,the index for the H shares of state-controlled listed companies. The company was also listed on theNew York Stock Exchangeuntil January 2021. China Telecom is thesecond-largest wireless carrier in China,with 362.49 million subscribers as of June 2021.[update][7]
History
editChina Telecom Corp., Ltd. was incorporated on 10 September 2002 as a limited company[3]: 133 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 Zhe gian g, as well as other assets from the parent company.[3]
In 2003, China Telecom acquired businesses in Anhui, Fu gian, Jiangxi, Guangxi, Chongqing, Sichuan, as well as other assets forCN¥46billion.[3]In 2004, it acquired businesses in Hubei, Hunan, Hainan, Guizhou, Yunnan, Shaanxi, Gansu, Qinghai, Ningxia and Xin gian g 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 theMinistry of Industry and Information Technology's Connecting Every Village Project, which began in 2004.[9]: 24–25 The project aimed to promote universaltelecommunicationsandinternetaccess inrural China.[9]: 24–25 The program successfully extended internet infrastructure throughout rural China and promoted development of the internet.[9]: 25
In 2007, China Telecom acquired three companies: China Telecom System Integration, China Telecom Global and China Telecom (Americas) for CN¥1.408 billion.[3]In 2008 the business in Beijing (China Telecom Group Beijing) was acquired for CN¥5.557 billion.[3]: 134 In 2011, e-commerce business and video media business[which?]were acquired by China Telecom's subsidiaries E-surfing Pay and E-surfing Media. However, E-surfing Media was sold back to the parent company[which?]in 2013.[3]: 134 In 2012, a digital trunking business was acquired from sister companyBesttone Holding(a company listed on the Shanghai Stock Exchange) for CN¥48 million.[3]In 2013, China Telecom (Europe) was acquired from the parent company for CN¥278 million.[3]
In 2015, China Telecom formed a joint ventureChina Towerwith fellow state-owned telecommunication companiesChina MobileandChina Unicom.[10][11]China Tower, which was the largest telecommunications tower group by revenue, became a separate listed company in 2018.[12]China Telecom, China Mobile and China Unicom were remained the largest clients of China Tower as of 2018.[update][13]
In August 2015,Chang Xiaobing,former chairman ofChina Unicom,became the chairman of China Telecom as well chairman of China Telecommunications Corporation.[14][15][16][17]WhileWang Xiaochu ,who previously served in these two positions, was appointed to the same positions in China Unicom.[15][18]However, Chang was investigated for corruption in December 2015 and resigned.[14]He was sentenced to six years imprisonment in 2017.[19]
In 2016, China Telecom was responsible for illegally intercepting communications between the governments of Canada and Korea.[20][21]
Expansion outside mainland China
editChina Telecom (Europe) said on 23 October 2008 it would expand its Asian and European services, aiming to increase its market share in Europe.[22]China Telecom (Europe) became part of China Telecom Corp., Ltd. in 2013.
In 2008, China Telecom acquired China Unicom (Macau). The subsidiary was renamed toChina Telecom (Macau)[3]: 151 In 2015, China Telecom (Macau) acquired a4G LTElicense from the Macau S.A.R. authority.[23]The 4G service started in the same year.[24]
In May 2011, China Telecom formed a strategic partnership with the German software group SAP to offer a cloud-based version of SAP's business software to small and medium companies in China.[25]
In October 2015, China Telecom worked with SAP to createSAP Anywhere,although it was sunset by 2018 so SAP could focus on other more established services.[26]
China Telecom, in partnership withVodafone,was one of the bidders for a license in the newly opened mobile telecommunications market in Myanmar.[27]
U.S. sanctions
editIn January 2021, China Telecom was delisted from theNYSEin response to a USexecutive order.[28]The same year, theFederal Communications Commission(FCC) revoked China Telecom's operating license in the U.S. for national security reasons.[29]However, China Telecom (Americas) Corp plans to keep offering other services on United States soil.[30]In March 2022, the FCC designated China Telecom (Americas) Corp a national security threat.[31]In April 2024, the FCC ordered U.S. units of China Telecom to discontinue operations in the country. The FCC previously found that China Telecom usedBorder Gateway Protocolvulnerabilities to misroute U.S. internet traffic on at least six occasions.[32]In December 2024, theUnited States Department of Commercemoved to crack down on China Telecom's cloud and internet routing business in the U.S.[33]
Subsidiaries
edit- As of 19 November 2018
Equity interests
edit- As of 31 December 2016
- Besttone Holding(6.13%)[34]
Shareholders
edit- As of 31 December 2016[3]: 50
Rank | Name | Chinese name | Percentage | Footnotes |
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1 | China Telecommunications Corporation | Trung Quốc điện tín tập đoàn công ty | 70.89% | Central Government-ownedSOE,owner of A share |
2 | Guangdong Rising Assets Management | 6.94% | Guangdong Government-owned SOE, owner of A share | |
3 | JPMorgan Chase | 2.19% | Long positionfigure only, owner of H share | |
4 | BlackRock | 1.02% | Long position figure only, owner of H share | |
5 | The Bank of New York Mellon | 0.93% | Long position figure only, owner of H share | |
6 | Templeton Global Advisors | 0.87% | Long position figure only, owner of H share | |
7 | GIC Private Limited | 0.86% | Long position figure only, owner of H share |
See also
editReferences
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- ^"RESIGNATION OF DIRECTOR AND CHANGE OF IMPORTANT EXECUTIVE POSITION"(PDF).China Telecom. 7 June 2017.Archived(PDF)from the original on 7 August 2017.Retrieved26 July2017.
- ^abcdefghijklmnopqrst"2016 Annual Report"(PDF).China Telecom. 6 April 2017.Archived(PDF)from the original on 10 November 2017.Retrieved26 July2017.
- ^China Telecom."PeeringDB".PeeringDB.Retrieved27 July2022.
- ^"728 Profile & Executives – China Telecom Corp Ltd – Bloomberg".bloomberg.Archivedfrom the original on 14 December 2017.Retrieved22 August2012.
- ^"List of H Share Companies (Main Board)".Hong Kong Stock Exchange. 30 June 2017.Archivedfrom the original on 8 July 2017.Retrieved26 July2017.
- ^"China Telecom Corporation Limited - Investor > Key Performance Indicators - Monthly".
- ^Ramstad, Evan; Ng, Loretta (13 April 2004)."China Telecom Deal To Lift Public's Stake".The Wall Street Journal.Archivedfrom the original on 28 September 2018.Retrieved28 September2018.
- ^abcShi, Song (2023).China and the Internet: Using New Media for Development and Social Change.New Brunswick, NJ:Rutgers University Press.ISBN9781978834736.
- ^Wildau, Gabriel (15 October 2015)."China telecoms operators pool $36bn in assets".Financial Times.Archivedfrom the original on 28 September 2018.Retrieved28 September2018.
- ^"Discloseable transaction in relation to the disposal of telecommunications towers and related assets"(PDF)(Press release). Hong Kong: China Telecom. 14 October 2015.Archived(PDF)from the original on 28 September 2018.Retrieved28 September2018– via Hong Kong Exchanges and Clearing website.
- ^Dunkley, Emma (2 August 2018)."China Tower raises most in an IPO globally since 2016".Financial Times.Archivedfrom the original on 28 September 2018.Retrieved28 September2018.
- ^Sito, Peggy; He, Laura (19 July 2018)."China Tower, world's largest mobile phone tower company, to kick off year's biggest IPO next Wednesday".South China Morning Post.Hong Kong.Archivedfrom the original on 28 September 2018.Retrieved28 September2018.
- ^ab"China Telecom chief resigns amid investigation".BBC News Services.31 December 2015.Archivedfrom the original on 28 September 2018.Retrieved28 September2018.
- ^ab"resignation of director"(PDF)(Press release). China Telecom. 24 August 2015.Archived(PDF)from the original on 28 September 2018.Retrieved28 September2018– via Hong Kong Exchanges and Clearing website.
- ^"APPOINTMENT OF CHIEF EXECUTIVE OFFICER AND PROPOSED APPOINTMENT OF DIRECTOR"(PDF)(Press release). China Telecom. 1 September 2015.Archived(PDF)from the original on 28 September 2018.Retrieved28 September2018– via Hong Kong Exchanges and Clearing website.
- ^"List of directors and their role and function"(PDF)(Press release). China Telecom. 23 October 2015.Archived(PDF)from the original on 28 September 2018.Retrieved28 September2018– via Hong Kong Exchanges and Clearing website.
- ^"List of directors and their role and function"(PDF)(Press release). China Unicom (Hong Kong). 1 September 2015.Archived(PDF)from the original on 28 September 2018.Retrieved28 September2018– via Hong Kong Exchanges and Clearing website.
- ^"Former China Telecom Boss Chang Xiaobing sentenced to six years for corruption".South China Morning Post.Hong Konf. 31 May 2017.Archivedfrom the original on 28 September 2018.Retrieved28 September2018.
- ^Fife, Robert; Chase, Steven (30 October 2018)."China Telecom diverted internet traffic in U.S. and Canada, report finds".The Globe and Mail.Archivedfrom the original on 4 September 2024.Retrieved10 November2021.
- ^"Malicious Life: IP Hijacking [ML BSide] (36m)".castro.fm.Retrieved10 November2021.
- ^"China Telecom to spread Asian-European services".London: Xinhua News Agency. 23 October 2008. Archived fromthe originalon 21 October 2012.Retrieved28 September2018.
- ^Kinh doanh chọn dùng trường kỳ diễn tiến kỹ thuật ( 4G ) công cộng mặt đất lưu động điện tín internet cập cung cấp tương quan công cộng mặt đất lưu động điện tín phục vụ giấy phép công khai đấu thầu chi cạnh đầu kết quả(Press release) (in Traditional Chinese). Macau: Direcção dos Serviços de Regulação de Telecomunicações. 9 March 2015.Archivedfrom the original on 28 September 2018.Retrieved28 September2018.
- ^Liêu đông vận; hoàng vĩ hồng (25 November 2015)."TDM"Trung Quốc điện tín ( Macao ) khởi động 4G.Rádio Macau (in Traditional Chinese and Cantonese). Teledifusão de Macau.Archivedfrom the original on 28 September 2018.Retrieved28 September2018.
- ^Taylor, Paul (17 May 2011)."SAP-China Telecom deal to offer cloud-based services in China".Financial Times.Archivedfrom the original on 4 September 2024.Retrieved28 September2018.
- ^"SAP and China Telecom Offer New Category of Front Office Solution in Mainland China".SAP News. 20 October 2015.Archivedfrom the original on 2 January 2017.Retrieved5 February2016.
- ^"Vodafone, China Mobile eye Myanmar".Investvine. 5 April 2013. Archived fromthe originalon 11 January 2021.Retrieved5 April2013.
- ^"New York Stock Exchange to delist three Chinese companies on U.S. Executive order".January 2021.Archivedfrom the original on 17 January 2021.Retrieved17 February2021.
- ^Shepardson, David (27 October 2021)."FCC revokes authorization of China Telecom's U.S. unit".Reuters.Archivedfrom the original on 20 August 2023.Retrieved28 October2021.
- ^Shepardson, David (22 December 2021)."China Telecom plans to continue some U.S. services after FCC revokes authorization".Reuters.Archivedfrom the original on 18 February 2022.Retrieved18 February2022.
- ^Shepardson, David; Satter, Raphael (26 March 2022)."U.S. FCC adds Russia's Kaspersky, China telecom firms to national security threat list".Reuters.Archivedfrom the original on 8 November 2023.Retrieved26 March2022.
- ^Shepardson, David (3 September 2024)."White House asks agencies to step up internet routing security efforts".Reuters.Retrieved4 September2024.
- ^Shepardson, David; Alper, Alexandra (16 December 2024)."Washington moves to boost crackdown on China Telecom's US unit, source says".Reuters.Retrieved16 December2024.
- ^"2016 Annual Report"(PDF)(in Chinese). Besttone Holding. 22 April 2017. p. 35.Archived(PDF)from the original on 14 December 2017.Retrieved26 July2017.