China Mobile Communications Group Limited, also known as China Mobile Communications Group Co., Ltd. ("China Mobile"), was established on April 20, 2000. It operates a mobile communication network based on GSM, TD-SCDMA, and TD-LTE technologies. As a state-owned backbone enterprise, China Mobile was formed through the restructuring of China Telecom's mobile communication assets in line with national telecommunications reform policies.
The company was officially listed on May 16, 2000. China Mobile Communications Corporation owns China Mobile (Hong Kong) Group Co., Ltd., and its subsidiary, China Mobile Limited ("Listed Company"), is fully owned across 31 provinces, autonomous regions, and municipalities, as well as the Hong Kong Special Administrative Region. The company is listed both in Hong Kong and New York.
**China Mobile Completed Restructuring**
On December 25th, China Mobile Communications Group announced that it had completed its corporate restructuring. This followed approval from the State-owned Assets Supervision and Administration Commission of the State Council, as part of the national initiative to restructure central enterprises. The company has now completed the industrial and commercial registration changes.
As part of the restructuring, the company type changed from a state-owned enterprise to a state-owned company. The name was updated from "China Mobile Communications Corporation" to "China Mobile Communications Group Co., Ltd." Additionally, all original business operations, assets, qualifications, and liabilities were transferred to the new entity.
In a similar move, China Telecom also announced the completion of its corporate system reform, changing its status from a state-owned enterprise to a state-owned company. Its name was updated to "China Telecom Group Co., Ltd.", and all previous business, assets, and legal obligations were inherited by the newly restructured entity.
Recent years have seen the State Council's State-owned Assets Supervision and Administration Commission promoting board of directors pilot projects in major state-owned enterprises. After successful trials at Baosteel and China National Building Material Group, these companies transitioned from state-owned legal person enterprises to state-owned sole proprietorship companies.
In August this year, China Unicom released a mixed-ownership reform plan, aiming to establish a diversified board of directors and management team. The plan included creating a corporate governance structure with equal rights and responsibilities, coordinated operations, and effective checks and balances.
Under the plan, China Unicom planned to issue shares worth 78 billion yuan, including strategic investors such as Baidu, Alibaba, Tencent, and JD.com. These investors would subscribe for 9 billion shares of China Unicom A-shares and purchase 1.9 billion shares from Unicom Group, collectively holding 34.9% of the expanded share capital at a price of 6.83 yuan per share. Alibaba alone invested 4.35 billion yuan, accounting for 2.04%.
In July, the General Office of the State Council issued the "Implementation Plan for the Reform of the Central Enterprise Company System," setting a clear timeline: by the end of 2017, except for central financial and cultural enterprises, all state-owned enterprises under the ownership of the people and supervised by SASAC should be restructured into limited liability companies or joint stock companies under the Company Law.
**China Mobile Restructuring Content Summary**
The key changes in China Mobile’s restructuring include:
1. The company type was changed from a state-owned enterprise to a state-owned company.
2. The name was updated from “China Mobile Communications Group Corporation†to “China Mobile Communications Group Co., Ltd.â€, with the English name changing from “China Mobile Communications Corporation†to “China Mobile Communications Group Co., Ltd.â€
3. All original business, assets, qualifications, creditor rights, and debts were inherited by China Mobile Communications Group Co., Ltd. after the restructuring.
China Telecom was the first among the major telecom companies to announce the completion of its restructuring. It too transitioned from a state-owned enterprise to a state-owned company, with all previous business, assets, and liabilities assumed by the restructured China Telecom Group Co., Ltd.
At the 2018 annual meeting of the Ministry of Industry and Information Technology, there was a strong emphasis on deepening reforms and opening up in 2018, accelerating key area reforms, and advancing the mixed-ownership reform of telecommunications and military enterprises.
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