China Telecom Corporation Limited was established on 10th September 2002, after restructuring of the telecom business assets and the telecom system reform of its Shanghai, Jiangsu, Zhejiang and Guangdong Corporations.
China Telecom successfully completed its initial public offering (IPO) at New York and Hong Kong stock exchanges on 14 and 15 November 2002. At present, the businesses of China Telecom Corporation Limited cover 20 provincial regions and China Telecom has entered a new era of healthy development. China Telecom is an experimental state holding corporation.
Area of Operation
The businesses of China Telecommunications are:
- Voice service
- Internet access and application service
- Data communications service
- Telephone information service
- Network element leasing service
- Yellow pages information service
- International network element service
- APIX service
- Services provided by the Global Customer Service Center
- China Telecommunications holds assets of $67,751.7 million.
- China Telecommunications has made profits of $2,376.3 million in 2006.
- China Telecommunications operates nationwide in China and also USA, Hong Kong, Europe.
- China Telecommunications has 407,982 employees.
The organization structure is such that China Telecommunications Corporation is the holding group ate the top with different departments like Marketing Department, Auditing Department etc. Under China Telecommunications Corporation, the other units are:
- Wholly Owned Subsidiaries
- China Telecom Corporation Limited
- Branches Corporation
- Cultural Unit
- Holding Subsidiaries
- Partially owned Companies
- Vice Presidents
- Chief Technology Officer
- China Telecommunications ranks 162 in the world according to Forbes Magazine list.
- China Telecommunications ranks 279 in Fortune Global 500 list.
China Telecommunications has about28 wholly owned subsidiaries and 3 holding Subsidiaries which manage its operations.
China Telecom Corporation Limited acquired the telecom assets in Anhui and other five provincial corporations of China Telecom in December 2003 and June 2004.
31 Financial St.