China Telecom
| Company type | Public; state-owned enterprise |
|---|---|
| Industry | Telecommunications |
| Founded | September 10, 2002 |
| Founder | China Telecommunications Corporation |
| Headquarters | China |
Area served | China, international (Americas, Europe, Macau) |
Key people | Chang Xiaobing (former chairman) |
| Products | Wireless services, wireline telecommunications, internet services, cloud computing |
| Owner | China Telecommunications Corporation (70.89%) |
| Parent | China Telecommunications Corporation |
China Telecom Corporation Limited (CT) is a telecommunications enterprise based in China and operates as a publicly listed red chip company under the state-owned China Telecommunications Corporation.
Its H shares have been traded on the Stock Exchange of Hong Kong since 15 November 2002, and it forms part of the Hang Seng China Enterprises Index, which monitors H shares of government-controlled firms. The company maintained a listing on the New York Stock Exchange until January 2021. As of June 2021, China Telecom ranked as the second-largest wireless service provider in China, boasting 362.49 million subscribers.
History
Established on 10 September 2002, China Telecom Corp., Ltd. was incorporated as a limited liability company to facilitate the public listing of principal assets, including wireline telecommunications operations in Shanghai, Guangdong, Jiangsu, and Zhejiang provinces, along with additional assets transferred from its parent corporation.
In 2003, the company broadened its footprint by acquiring telecommunications businesses in Anhui, Fujian, Jiangxi, Guangxi, Chongqing, Sichuan, and other regions for CNY 46 billion. The following year saw further expansion with acquisitions in Hubei, Hunan, Hainan, Guizhou, Yunnan, Shaanxi, Gansu, Qinghai, Ningxia, Xinjiang provinces and supplementary assets for CNY 27.8 billion.
Starting in 2004, China Telecom was among six state-owned enterprises that contributed to infrastructure development and funding for the Ministry of Industry and Information Technology’s Connecting Every Village Project. This program aimed to achieve universal access to telecommunications and internet services across rural areas in China, substantially enhancing nationwide internet infrastructure.
From 2007 through 2013, China Telecom executed multiple strategic acquisitions: including China Telecom System Integration, China Telecom Global, and China Telecom (Americas) for CNY 1.408 billion in 2007; Beijing operations for CNY 5.557 billion in 2008; e-commerce and video media ventures through subsidiaries E-surfing Pay and E-surfing Media in 2011—with E-surfing Media reintegrated into the parent company by 2013; a digital trunking business acquired from Besttone Holding for CNY 48 million in 2012; and China Telecom (Europe) for CNY 278 million in 2013.
In 2015, together with fellow state-owned carriers China Mobile and China Unicom, China Telecom co-established the joint venture China Tower. This entity grew to become the leading telecommunications tower operator by revenue and went public in 2018. China Telecom remained one of its primary clients alongside its partners.
Leadership shifts took place in August 2015 when Chang Xiaobing—previously chairman of China Unicom—was appointed chairman of both China Telecom and its parent company. He stepped down in December 2015 amid a corruption probe and was later sentenced to six years imprisonment in 2017.
In 2016, allegations surfaced involving China Telecom’s participation in unauthorized interception of communications between Canadian and South Korean governments via internet traffic rerouting.
Expansion outside mainland China
On 23 October 2008, China Telecom (Europe) revealed plans to enhance its service offerings across Asia and Europe to grow its presence within European markets. By 2013, this subsidiary was fully integrated into China Telecom Corp., Ltd.
In 2008, the acquisition of China Unicom (Macau) led to its rebranding as China Telecom (Macau). The subsidiary obtained a license to operate 4G LTE services from Macau's regulatory authority in 2015 and launched these services within the same year.
In May 2011, a partnership between China Telecom and German software provider SAP was formed to deliver cloud-based SAP business applications tailored for small and medium-sized enterprises operating within China. By October 2015, they introduced SAP Anywhere—a front-office solution designed for the mainland Chinese market; however, this offering was discontinued by 2018 as SAP redirected its focus toward more established products.
China Telecom also joined forces with Vodafone to submit a bid for a license in Myanmar’s newly liberalized mobile telecommunications sector.
U.S. Sanctions
In January 2021, China Telecom was removed from the NYSE as a result of a U.S. executive order. Later that year, the Federal Communications Commission (FCC) withdrew China Telecom's authorization to operate within the United States, citing concerns related to national security. Nevertheless, China Telecom (Americas) Corp intended to maintain certain service offerings in the U.S. In March 2022, the FCC officially identified China Telecom (Americas) Corp as a threat to national security. By April 2024, the FCC mandated that its U.S.-based subsidiaries halt all operations after determining that China Telecom had repeatedly exploited vulnerabilities in the Border Gateway Protocol to improperly redirect American internet traffic. In December 2024, the United States Department of Commerce escalated measures aimed at limiting China Telecom’s cloud computing and internet routing activities within the U.S. Subsequently, in March 2025, the United States House Select Committee on Strategic Competition between the United States and the Chinese Communist Party initiated an investigation into China Telecom, issuing subpoenas for company documentation in April 2025.
Subsidiaries
- China Telecom (Americas) Corporation
- China Telecom (Europe) Limited
Equity Interests
- Besttone Holding (6.13%)
| Rank | Name | Chinese name | Percentage |
|---|---|---|---|
| 1 | China Telecommunications Corporation | 中国电信集团公司 | 70.89% |
| 2 | Guangdong Rising Assets Management | 6.94% | |
| 3 | JPMorgan Chase | 2.19% | |
| 4 | BlackRock | 1.02% | |
| 5 | The Bank of New York Mellon | 0.93% | |
| 6 | Templeton Global Advisors | 0.87% | |
| 7 | GIC Private Limited | 0.86% |
See also
- List of largest companies by revenue
- List of telecommunications companies
- List of telecommunications regulatory bodies