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Joint Venture between China’s State-owned and Private Enterprises

The state-owned telecom giant China Unicom has set up a new joint venture with private Internet giant Tencent, while China Mobile has joined hands with China Telecom has also partnered with Alibaba. Scholars analyze that the joint venture program is continuing to expand, and that, next year, more large private companies will be included in the wave of creating joint ventures .

On October 27, the country’s State Administration of Market Regulation released a list of approved businesses, which include the new joint venture between China Unicom and Tencent.

Radio Free Asia quotes a Beijing-based political commentator Wu Qiang who states that the “public-private partnership” that people have been concerned about in the past five years has now entered a substantive stage of implementation. Also, the “strategic cooperation” between three large state-owned telecom companies and three private giants indicates the dawn of an era of full governmental control of the economy.

Source: Central News Agency (Taiwan), November 3, 2022