China Telecom Group Co., Ltd. is a very large state-owned communication enterprise in China. Founded on April 27th, 1995,/kloc-0 was listed on the Shanghai Stock Exchange on August 20th, 2002 (stock code: 60 1728).
China Telecom is a state-owned super-large communication backbone enterprise with a registered capital of 2 1, 3 1 billion yuan, assets of more than 800 billion yuan and annual revenue of more than 430 billion yuan, ranking among the Fortune 500 companies for many years. The company owns three listed companies: China Telecom Co., Ltd., China Communications Service Co., Ltd. and 100 Holding Co., Ltd.
The main services include basic telecommunications services; Value-added telecommunications services; Chain operation of national Internet service sites; All state-owned assets and state-owned shares formed by state investment in operating group companies and investment enterprises; Contracting overseas telecommunications projects and domestic and foreign bidding projects; Operating system integration, technology development, technical services, design and construction, equipment production and sales, advertising and information consultation related to communication and information services; Import and export business; Undertake exhibitions, etc.
State-owned enterprises refer to wholly state-owned enterprises, wholly state-owned companies and state-owned capital holding companies that the State Council and local people's governments perform the responsibilities of investors on behalf of the state respectively. As a form of production and operation organization, state-owned enterprises have both commercial and public welfare characteristics, and play a role in coordinating the development of all aspects of the national economy.
State-owned enterprises have a certain administrative nature. Due to historical reasons, the classification of state-owned enterprises is quite complicated. For the state-owned enterprises in China, those who invest or hold more than 50% of the state-owned assets are state-owned enterprises. 1978 before the reform and opening up, even until the end of the 20th century, state-owned enterprises have been the object of government support. The establishment of state-owned enterprises, a large part of government tax revenue was invested in state-owned enterprises, which led to the establishment and emergence of a large number of state-owned enterprises, some of which were transformed from the original government departments. For example, China Telecom and China Mobile, the former Ministry of Posts and Telecommunications was changed to the Telecommunications Bureau, and then reorganized into China Telecom and China Mobile in the late 1990s and early this century. China's state-owned enterprises are registered according to the Regulations on the Administration of the Registration of Enterprise Legal Persons in People's Republic of China (PRC), and the main body of assets investment is the state-owned assets management department, that is, state-owned enterprises.