China Mobile welcomes Shuai from the building next door, 5G and mixed-ownership reform follow China Unicom | mesin uang slot, taruhan judi online, situs qq terbaik 2021

Sentiment has been parting since ancient times, and China Mobile has reached the season of changing managers again.

On the morning of March 4, Beijing's Financial Street was bright and sunny. In front of the China Telecom Building, a group of employees were reluctant to say goodbye to their chairman Yang Jie. The person who came to greet the senior executive with a smile was none other than China Mobile, which had been competing with them life-and-death for 15 years.

For the old employees of China Mobile, this is also the fourth chairman we have welcomed since the spin-off of China Telecom in 2004, from Wang Jianzhou, Xi Guohua, Shang Bing, to today's Yang Jie. Except for Wang Jianzhou from China Unicom, the other two are from the Ministry of Industry and Information Technology.

Over the past 19 years, China Mobile has worked hard and continued to grow. Today, it has more than 500,000 employees. In 2018, its revenue was 1,087.8 billion, ranking third in the world (the top two are ATT and Verizon in the United States). It is equal to the sum of China Telecom and China Unicom, and its profit is 6 times or even more than the sum of the first two.

Today, China Mobile has become a global giant. Why not pursue steady progress instead of frequent changes in senior management?

From "elephant run" to spin-off listing

"Elephant Run" is the image title proposed by Wang Jianzhou. In 2004, 15 years ago, the number of domestic users exceeded 300 million, the turnover was 192.381 billion yuan, and it occupied 60% of the mobile market share.

From 2005 to 2011, China Mobile's revenue growth rate dropped from 26.3% to 8.8%, and its profit growth rate dropped from 28.3% to 5.2%.

It can be seen that the elephant's pace has obviously slowed down, but the elephant is still an elephant after all, it just changed from "elephant running" to "elephant jogging". When Xi Guohua took over China Mobile in 2012, the company earned an average of 345 million yuan per day.

Under the impact of the mobile Internet, China Mobile base companies entrenched in many provinces are ready to move and begin to grow. However, the business is still coordinated by China Mobile Group.

At that time, the most outstanding business performance was the Internet base in Guangdong, the music base in Chengdu, the animation base in Xiamen, and the location base in Liaoning. Due to the openness of the Internet, each company benchmarks against BAT, which has led to an increasing degree of homogeneity between China Mobile's other local businesses and its Internet base business, causing mutual constraints from time to time.

Local companies have an increasingly strong desire to develop independently, and calls for China Mobile Group’s mixed-ownership reform are also getting louder.

With the merger of the original base businesses, China Mobile has established many subsidiaries, such as Migu Culture Technology Co., Ltd., China Mobile Internet of Things Co., Ltd., China Mobile Internet Co., Ltd., China Mobile E-commerce Co., Ltd., China Mobile Construction Co., Ltd. and many other specialized subsidiaries. Most of these brands still rely on China Mobile Group for their existence.

In December 2017, China Mobile Communications Group Corporation underwent corporate restructuring. The enterprise type was changed from a state-owned enterprise to a wholly state-owned company, and its name was changed to China Mobile Communications Group Co., Ltd.

In August 2018, Li Yue, executive director and CEO of China Mobile, revealed that the company is planning to spin off three to four of its companies for listing, but the specific time and location of the listing have not yet been determined.

At that time, Li Yue also delineated the business scope of the split, and would consider choosing companies that are independently operated, less related to large network businesses, and convenient for financial accounting. But then, China Mobile refuted the rumors, but the news about China Mobile's spin-off has never stopped.

Telecom analyst Fu Liang once pointed out that under the complex group system, the competitive advantages of some subsidiaries cannot be reflected, they cannot participate in market competition well, and the value of subsidiaries is also underestimated. Li Yue also admitted that many of China Mobile's subsidiaries or businesses are undervalued, such as Internet-based businesses such as Migu.

There is some truth to this statement. For example, some companies have fully benchmarked against BAT in terms of business. For example, in October 2018, China Mobile invested 1 billion to establish China Mobile Financial Technology Co., Ltd. The business covers three major sectors: integrated payment, specialty e-commerce, and financial technology, and competes with WeChat Pay, Alipay, Ant Financial and other businesses. But the biggest problem is that if these companies are not listed and develop under the China Mobile Group, they will be subject to the management system and it will be difficult to compete with Internet companies.

China Mobile has been "following" Telecom and China Unicom

China Mobile has always played the role of "coming from behind".

Back in 2000, China Mobile, which was split from China Telecom, had no prospects at all. According to old employees of China Mobile, many people did not want to go to the newly established mobile company at that time. In addition to not being an iron rice bowl, fixed-line broadband was a hugely profitable industry at that time and was a piece of fat cooked in the pot. However, the people of China Mobile who were separated could only smell the fragrance wafting from the China Telecom building from a distance.

At that time, both broadband and fixed-line services were in the hands of China Telecom and China Unicom, and China Mobile could only operate "mobile" services.

“When I was director of the Hangzhou Municipal Telecommunications Bureau, we were at the peak of the ‘telephone installation boom’. Although we continued to speed up the project progress, worked hard to expand the capacity of telephone exchanges, and laid new transmission lines, we still could not meet the needs of the people.”

Wang Jianzhou, former chairman of China Mobile, wrote an article recalling those events in China’s telecommunications industry, but he still did not forget the good times that this landline brought to him.

As time goes by, 3G licenses are finally issued, and China Mobile seems to be on the same starting line as China Telecom and China Unicom. However, China Mobile only has China's independently innovative TD license for mobile phones, while the global FDD license is in the hands of China Unicom and China Telecom. As a result, China Mobile began to catch up with the former in terms of networks and terminals.

It wasn’t until China Mobile obtained the 4G license and fixed-line broadband license that it truly stood on the same starting line as China Unicom and China Telecom. 5G licenses are about to be issued this year, and China Mobile is once again undergoing a leadership change, and may move closer to China Telecom and China Unicom in the reform of state-owned enterprises.

Will BAT be introduced in China Mobile’s “mixed ownership reform”?

Between operators and Internet giantsIn the first BAT business competition, China Unicom and China Telecom took the lead in choosing win-win cooperation. China Unicom and WeChat have launched a series of Internet services, while China Telecom and NetEase have cooperated to launch the Yixin social platform, directly competing with China Mobile Fetion.

China Mobile is extremely nervous. In December 2012, Li Yue spoke at the China Mobile Global Developers Conference and said that with the development of the mobile Internet, the businesses of traditional operators are being severely impacted, especially the squeezing of traditional operators by OTT companies. These services have greatly challenged the operators' original SMS, voice, and even international phone services.

Li Yue further "named out" that Tencent QQ occupies a very large amount of operator signaling resources. Some of the original mechanisms are not suitable for the network design of traditional operators. China Mobile and Tencent should communicate with each other.

At this point, the conflict between China Mobile and Tencent WeChat became public. With the disappearance of China Telecom Yixin, Fetion no longer has the power to fight WeChat, and China Mobile normalized its relationship with Tencent WeChat.

Recently, some media reported that Wang Jianzhou, then president of the China Association of Listed Companies, was reflecting on China Mobile's strategic issues. He said frankly that China Mobile wanted to do mobile payment, WeChat, etc. ten years ago, but ran aground due to business model, mechanism and other issues.

Wang Jianzhou had already anticipated the lethality of WeChat. On January 1, 2010, Wang Jianzhou visited Tencent headquarters and met with Ma Huateng. Around this time, after China Mobile Fetion came out, it claimed to snatch 20% of WeChat users. Not long after, China Mobile relied on more than 600 million mobile users, and the number of Fetion soon exceeded 100 million.

Today, China Mobile's Fetion has faded out of people's sight. This is a story for later.

At the 2013 Boao Forum for Asia, Wang Jianzhou, who is the director of China Mobile's Strategic Decision-making Advisory Committee, said that OTT services have increased the burden on operators' networks, and the traffic fees collected cannot make up for the corresponding expenditures. Only when the interests of all parties are balanced can it be in line with objective laws, and operators and OTT service providers need to sit down and talk.

However, as the cooperation between China Unicom, China Telecom and BAT deepened, China Mobile could not stand alone and watched Tencent WeChat continue to grow, while Fetion was dying, and finally chose to cooperate with WeChat business.

Today, China Unicom and China Telecom once again "lead" in choosing to operate with BAT capital.

In 2017, China Unicom will undergo mixed reform. More than a dozen strategic investors including Tencent, Baidu, Alibaba, and JD.com will subscribe for 9 billion A shares of China Unicom. Tencent will hold 5.18% of the shares, Baidu will hold 3.30% of the shares, JD.com will hold 2.36% of the shares, and Alibaba will hold 2.0% of the shares.

After China Unicom’s mixed-ownership reform, in January 2019, China Telecom Wing Payment announced that its Series A capital increase was officially approved by the central bank. According to the relevant person in charge of Yipay, the A round introduced four strategic investors including Qianhai Fund of Funds, CITIC Construction Investment, Dongxing Securities and CGN Capital.

This marks a substantial step forward in the mixed ownership reform of China Telecom.

In January 2019, the State-owned Assets Supervision and Administration Commission issued the "Notice on Matters Concerning the Establishment of World-Class Demonstration Enterprises by Central Enterprises" for comments, proposing to select 10 companies, including China Mobile, that can comprehensively use various state-owned enterprise reform policies such as mixed reform, employee stock ownership, and equity incentives to give full play to the effectiveness of the reform.

This marks the beginning of China Mobile’s mixed-ownership reform. Securities Daily reported that China Mobile’s mixed-ownership reform pilot was named by the State-owned Assets Supervision and Administration Commission, so it must be done. The introduction of Internet institutions in the mixed reform of state-owned enterprises provides an important idea for the mixed reform of enterprises. The possibility of China Mobile introducing Internet institutions for mixed reform cannot be ruled out. So, China Mobile made a profit of 740.5 billion in 2018, which is more than the combined profits of the three giant BAT companies. Under this premise, will it introduce BAT like China Unicom? Let’s wait and see.

[Source: Blue Whale TMT Network Author: Mao Qiying]