China Unicom's Inclusion in Mixed Ownership Reform Trials Remains Uncertain
Yicai Global
/SOURCE : Yicai
China Unicom's Inclusion in Mixed Ownership Reform Trials Remains Uncertain

(Yicai Global) Oct. 10 -- Uncertainty still surrounds whether China Unicom Group Co. will be included in the first batch of pilot projects for mixed ownership reform because the country's second-biggest mobile carrier still has not obtained final approval.

The Beijing-based telecoms giant attended a Sept. 28 meeting organized by the National Development and Reform Commission, the nation's top economic planner, according to its listed arm China United Network Communications Ltd. [SHA:600050]. The plan is still under discussion, it said yesterday.

China is opening up state-owned enterprises to private investment because the State Council, or cabinet, believes "SOEs are an important foundation for national development but are in urgent need of reforms as languid mechanism and poor management have resulted in declining profits."

NDRC Vice Chairman Liu He hosted the Sept. 28 meeting to make arrangements for the pilot projects. Detailed reports were delivered by SOEs directly under central government control including China Unicom, China Eastern Airlines Corp., China Southern Power Grid Co., China Nuclear E&C Group and China CSSC Holdings Ltd., and officials from Zhejiang Provincial Development and Reform Commission.

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