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Last updated at: (Beijing Time) Tuesday, June 25, 2002

China Telecom to Launch First Ever US-based Company

China Telecom, the country's fixed-line telecom giant will open its US branch to further expand its business in the international market. "The branch company in the US will begin China Telecom's five-year development plan of becoming an international competitive company''.


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China Telecom to launch a company replacing US-based office is lately reported and to this end enhanced investment efforts as blueprinted will be made for enlarged market operations and a world market to be developed abroad.

China Telecom has by itself shown its full corporate force as an ultra-large state-run Chinese enterprise and a corporate giant as well to be projected on a world scale known in China and abroad.

In view of the US IT industry of magnitude and busy China-US telecomm services to be developed as predicted, backed by concerned ministries and commissions, China Telecom had early set up its representative office in Los Angeles November 2000.

China Telecom had its office's work over the past one year concentrate on construction of CHINANET key nodes at San Francisco and Los Angeles, making CHINANET a genuine international Internet boosting China's telecom construction abroad and linking up the country's telecom services with those of US telecom operators.

Last July, the office had got its license for developing international telecom service in the US thereby laying the ground for projecting China's overseas telecomm service abroad.

People will see the new company in sight by the end of the year as a study group has been organized going on mission to study into the US's telecom market according to an insider from China Telecom.

As planed, China Telecom is to enhance its telecom services in other countries across the world and will in various feasible forms strengthen cooperation with its foreign counterparts, manufacturers and operators to ensure China's telecom service develop on a global scale.

With branches around the world, China Telecom will better co-operate with overseas telecom carriers and equipment vendors, a senior director said.

Setting up the US branch is also part of preparation works for China Telecom's pending overseas public listing, industry insiders said.

It's widely believed that China Telecom will go public in both New York and Hong Kong stock exchanges in the early half of next year.

The company refused to make any comment about its initial public offering but said it is busy making preparations.

By People's Daily Online


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