China Unicom Yunnan unit steps up corporate management reform

The Yunnan provincial branch of China Unicom, the country's second-largest telecom operator by number of mobile subscribers, is stepping up the push to accelerate reform in corporate management to leverage the vitality of private investors and revitalize the State-owned company in the process.

The move came after three private companies signed an agreement with China Unicom Yunnan in May to set up a new operating company, which would take charge of constructing a telecom network and operating its whole business in Southwest China's Yunnan province.

The three private companies, namely Hengtong Group Co, Beijing Sinonet Science & Technology Co Ltd, and Akin Technology, took a combined 85 percent stake in the new operating company. The move is seen by analysts an "aggressive "step in China's history of reforming State-owned enterprises.