China Telecom has plans to invite private investment in a number of its subsidiaries in an effort to promote mixed-ownership reform. Marbridge Daily cites the head of the telco’s innovation business unit, Li Anmin as saying that priority will be given to its social networking, internet application and government and enterprise related divisions. The telco plans to select two or three of its subsidiaries to enter into financing agreements with third-party investment enterprises this year, and has earmarked its advertising services division, Best Tone Information Service, for such a deal. China Telecom’s E-Surfing Reading Culture Communications unit also invited strategic investment in Q1 2014. The operator also announced that its Mobile App Store and Animation Centre subsidiaries will be spun off as independent units, named ‘Chengdu E-Surfing Space Technology’ and ‘Tianyi Aidongman Culture and Media’ respectively.
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