China Telecom, Guangdong Telecom and Zhejiang Telecom have jointly set up a new company called China Communications Service Holdings Company (CCSHC), in which they hold 91.5 per cent, 6.2 per cent and 2.3 per cent stake respectively. The newly formed company, capitalised at RMB 3.96 billion, will focus on communication technology development, technology consulting, communications appliance production and investment. CCSHC is expected to be listed in Hong Kong by the end of 2006.
