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China Unicom to pour RMB 40 bln into Henan Province

Published: 23 Jun 2009 17:41:50 PST

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Jun. 24, 2009 (China Knowledge) - China United Network Communications Group Co Ltd, the parent of China Unicom (Hong Kong) Ltd<600050><0762><CHU>, entered into a strategic framework agreement with the Henan provincial government to invest RMB 40 billion in the province in the next five years, the South China Morning Post reported.

Under the agreement, the money will be to improve the group's 3G network and fixed-line broadband transmission infrastructure, said Chairman Chang Xiaobing.

China Unicom last week signed a similar agreement with the Hainan provincial government to pour around RMB 3.6 billion into IT infrastructure within the next five years.

China Unicom's first-quarter net profit surged 152.6% year on year to RMB 3.42 billion. The telecom operator last month officially launched its long-anticipated 3G services in 55 cities nationwide, becoming the last of the three major telecom carriers to do so.

In January, China Unicom was authorized to offer 3G services based on Europe's WCDMA system. It offers more than 20 WCDMA models, including handsets from Ericsson Inc, Nokia Corp, Samsung Electronics Co Ltd, Motorola, Inc and China's ZTE Corp<000063><0763>.

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