Web giants in vanguard of overhaul

China's internet powerhouses are striving ahead as pioneers in a government-led reform to shake up the country's bloated State-owned enterprises.

The introduction of a host of tech giants as strategic investors in the nation's second largest telecom operator underpins Beijing's hope to overhaul bulky SOEs to shift to better productivity using their expertise and experience, analysts said.

The bloc comprises perhaps the most famous names in the technology field, including gaming and social giant Tencent Holdings Ltd, search engine Baidu Inc, e-commerce majors Alibaba Group Holding Ltd and JD.com Inc, all of which are prolific buyers overseas.