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在线翻译:
szdaily -> Business
China Unicom to sell assets
    2018-February-1  08:53    Shenzhen Daily

CHINA Unicom, the country’s second-largest mobile carrier by subscribers, teamed up with Alibaba Group Holding Ltd. to sell its non-performing assets on the latter’s online auction platform yesterday.

The move makes China Unicom the first State-owned enterprise (SOE) to auction assets on an Internet platform. The move is also part of the Beijing-based company’s broader push to deepen its mixed-ownership reform.

According to China Unicom, 150 of its branches have all opened accounts on Taobao, an e-commerce platform of Alibaba, to sell their non-performing assets, in a bid to better utilize existing resources and boost efficiency.

Under the partnership, the two will also build an open, transparent and efficient asset trading platform for other large-scale Chinese enterprises.

China Unicom said in a filing last Tuesday that its new board members will include Robin Li, CEO of Baidu Inc. and another three representatives from tech giants including Alibaba Group Holding Ltd., Tencent Holdings Ltd. and JD.com.

All of these private companies are investors in China Unicom’s US$11.7 billion reform plan, which is widely seen as a test field for the country’s broader SOE reform plans.

Last August, China Unicom announced that Baidu would invest 7 billion yuan (US$1.1 billion) in the company for a 3.3-percent stake. Tencent invested 11 billion yuan and gained a 5.18-percent stake, with other investments coming from Alibaba and JD.com.

According to Peter Liu, research director at consultancy Gartner Inc., China Unicom is the biggest beneficiary of the mixed-ownership reform, and is utilizing cutting-edge technologies from Internet giants to access more channels and potential customers.

(SD-Agencies)

 

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