China Telecommunications Corporation
China Telecom | |
Native name | 中国电信集团有限公司 |
Formerly | Directorate General of Telecommunications |
Company type | State-owned enterprise |
Industry | Holding company |
Founded | 27 April 1995 |
Founder | Ministry of Posts and Telecommunications |
Headquarters | Beijing, China Shanghai, China |
Area served | China, Philippines |
Revenue | CN¥375.734 billion (2019) |
CN¥ 29.070 billion (2019) | |
CN¥ 20.712 billion (2019) | |
Total assets | CN¥703.131 billion (2019) |
Total equity | CN¥355.040 billion (2019) |
Owner | Chinese Government (100%) |
Subsidiaries | |
Website | ChinaTelecom-H.com ChinaTelecomGlobal.com ChinaTelecom.com.cn |
Footnotes / references in consolidated financial statement[1] |
China Telecommunications Corporation (
History
The company originated as a government agency of the
On 10 September 2002, a subsidiary, China Telecom, was listed.[4][5] The listed company gradually acquired the assets from China Telecommunications Corporation.[4] As of 31 December 2016[update], however, China Telecommunications Corporation still owned the controlling stake in the company, for 70.89%.[4]
In 2009 China Telecommunications Corporation received some of the assets of China Satellite Communications.[6][7]
The company provides fixed-line and Xiaolingtong (
On 7 January 2009, China Telecommunications Corporation was awarded
U.S. sanctions
In November 2020, U.S. President Donald Trump issued an executive order prohibiting U.S. companies and individuals from owning shares in companies that the United States Department of Defense has listed as having links to the People's Liberation Army, which included China Telecom.[12] In consequence of the executive order, the New York Stock Exchange delisted China Telecom in January 2021.[12]
In December 2020, the United States Federal Communications Commission (FCC) initiated proceedings to revoke China Telecom's authorization to operate in the U.S. due to national security concerns.[13] In October 2021, the FCC revoked China Telecom's operating license in the U.S.[14] In March 2022, the FCC designated a U.S. subsidiary of the company, China Telecom (Americas) Corp, a national security threat.[15]
Consolidation and expansion
On 2 June 2008, the company announced it would acquire
Such shifts mark a new era for the telecommunications industry in China in which analyst have further commented that these changes are aimed at promoting a more fair and competitive industry environment.[16]
China Telecom was chosen by the Chinese Government as an investor in the
Subsidiaries
- As of 9 July 2019
- Besttone Holding (58.45%, excluding shares held by China Telecom)[24]
- China Communications Services
- China Telecom
- Dito Telecommunity (40% stake)
Allegations of rerouted Internet traffic
On 8 April 2010, China Telecom rerouted about 15% of foreign Internet traffic through Chinese servers for 18 minutes.[25] The traffic included the commercial websites of Dell, IBM, Microsoft, and Yahoo! as well as U.S. government and military sites.[26] China Telecom denied hijacking any Internet traffic.[27]
See also
- Communications in China
- Telecommunications industry in China
- List of largest companies by revenue
- List of telephone operating companies
- List of telecommunications regulatory bodies
References
- ^ a b c "2007–2009 Three Year Financial Report" (PDF) (in Chinese). China Telecommunications Corporation. 1 March 2011. Archived (PDF) from the original on 10 November 2017. Retrieved 26 July 2017.
- ^ "邮电部关于电信总局对内对外称谓及"中国电信"企业标识使用有关问题的通知" (Press release) (in Chinese). Ministry of Posts and Telecommunications (China). 1 November 1995. Archived from the original on 10 November 2017. Retrieved 26 July 2017.
- ^ Allen-Ebrahimian, Bethany (24 June 2020). "Defense Department produces list of Chinese military-linked companies". Axios. Archived from the original on 25 June 2020. Retrieved 24 June 2020.
- ^ a b c "2016 Annual Report" (PDF). China Telecom. 6 April 2017. Archived (PDF) from the original on 10 November 2017. Retrieved 26 July 2017.
- ^ "List of H Share Companies (Main Board)". Hong Kong Stock Exchange. 30 June 2017. Archived from the original on 8 July 2017. Retrieved 26 July 2017.
- ^ "Industry shakeup creates 3 telecom giants". China Daily. 25 May 2008. Archived from the original on 10 November 2017. Retrieved 25 July 2017.
- ^ "China Satcom taken over amid telecom reshuffle". China Daily. 10 April 2009. Archived from the original on 20 August 2017. Retrieved 25 July 2017.
- ^ China Telecom Key Performance Indicators
- ^ "Internet Filtering in China in 2004–2005: A Country Study". Opennetinitiative.net. Archived from the original on 28 September 2007. Retrieved 18 November 2010.
- ^ a b "ROUNDUP China Unicom acquires Netcom, sells CDMA assets as telco reorg takes off". Forbes. 2 June 2008. Archived from the original on 4 June 2011. Retrieved 10 June 2008.
- ^ Wang Xing (8 January 2009). "China issues 3G licenses". China Daily. Archived from the original on 28 September 2018. Retrieved 28 September 2018.
- ^ from the original on 1 January 2021. Retrieved 1 January 2021.
- ^ Shepardson, David (11 December 2020). "FCC begins process of halting China Telecom U.S. operations". Reuters. Archived from the original on 20 August 2023. Retrieved 11 December 2020.
- ^ Shepardson, David (27 October 2021). "FCC revokes authorization of China Telecom's U.S. unit". Reuters. Archived from the original on 20 August 2023. Retrieved 28 October 2021.
- ^ Shepardson, David; Satter, Raphael (26 March 2022). "U.S. FCC adds Russia's Kaspersky, China telecom firms to national security threat list". Reuters. Archived from the original on 8 November 2023. Retrieved 26 March 2022.
- ^ "China orders sweeping telecom merger". USA TODAY. 26 May 2008. Archived from the original on 30 May 2008. Retrieved 10 June 2008.
- ^ "China Telecom to help establish 3rd PH telco player – Andanar". Rappler. Manila. 10 December 2017. Archived from the original on 28 September 2018. Retrieved 28 September 2018.
- ^ "China Telecom picked to become the Philippines' third telecoms player". South China Morning Post. Hong Kong. Reuters. 11 December 2017. Archived from the original on 28 September 2018. Retrieved 28 September 2018.
- ^ a b "Mislatel, now Dito Telecommunity, gets permit to operate as 3rd telco". CNN Philippines. 8 July 2019. Archived from the original on 11 April 2021. Retrieved 9 July 2019.
- ^ a b Balinbin, Arjay L. (8 July 2019). "Mislatel to rebrand as 'Dito Telecommunity' after getting license". BusinessWorld. Archived from the original on 16 January 2021. Retrieved 9 July 2019.
- ^ a b Parrocha, Azer (8 July 2019). "PRRD hands Mislatel Consortium permit to operate as 3rd telco". Philippine News Agency. Archived from the original on 8 July 2019. Retrieved 9 July 2019.
- ^ @DICTgovph (19 November 2018). "OFFICIAL: NTC En Banc confirms Mislatel consortium as the country's New Telco Major Player READ full story here:…" (Tweet) – via Twitter.
- ^ Fenol, Jessica (8 March 2021). "DITO now available in Visayas, Mindanao; will be in NCR 'in a few weeks'". ABS-CBN News. Archived from the original on 8 March 2021. Retrieved 4 July 2021.
- ^ "2016 Annual Report" (PDF) (in Chinese). Besttone Holding. 22 April 2017. p. 35. Archived (PDF) from the original on 14 December 2017. Retrieved 26 July 2017.
- ^ Crittenden, Michael R. (17 November 2010). "Chinese Firm 'Hijacked' U.S. Data in April". The Wall Street Journal. Archived from the original on 29 June 2017. Retrieved 3 August 2017.
- ^ "Section 2: External Implications of China's Internet-related Activities" (PDF). USCC 2010 Annual Report. U.S.-China Economic and Security Review Commission. Archived from the original (PDF) on 2 December 2010.
- ^ Young, Doug (17 November 2010). "China Telecom denies hijacking U.S. Web traffic". Reuters. Archived from the original on 23 December 2010. Retrieved 30 June 2017.
External links
Media related to China Telecom at Wikimedia Commons