The Fourth Largest Operator in China has Successfully Completed the Opening Ceremony

On 12th October, 2020, the opening ceremony of China Broadcast Network Shareholding Company (中国广电网络股份有限公司) has been successfully completed, and the company was formally established as the fourth largest operator in China.

 

At the ceremony, China Broadcasting Network Shareholding Company (中国广电网络股份有限公司) also signed a strategic cooperation agreement with State Grid Corporation of China (国家电网)and Alibaba. According to previously public information, the registered capital of China Broadcast Network Shareholding Company (中国广电网络股份有限公司) was more than CNY 101 billion. State Grid and Alibaba have previously confirmed that they would subscribe CNY 10 billion for the shares of China Broadcast Network Shareholding Company (中国广电网络股份有限公司), and each obtained 9.88% of the shares.


There are two types of shareholders in the company, the first type includes China Broadcasting and Television Network Co Ltd (中国广播电视网络有限公司), Beijing Beiguang Media Investment and Development Center Co. Ltd (北京北广传媒投资发展中心有限公司)Jiangsu Tianjin Radio and Television Station Broadcasting Cable Information Network Corporation Limited(江苏省广电有线信息网络股份有限公司), Tianjin Broadcasting and Television Station (天津广播电视台) and Hunan TV & Broadcast Intermediary Co Ltd (湖南电广传媒股份有限公司), and the second type includes Hangzhou Alibaba Venture Capital Management Co Ltd (杭州阿里巴巴创业投资管理有限公司)State Grid Information & Telecommunication Industry Group Co Ltd (国网信息通信产业集团有限公司) China Merchants Technology Investment (shenzhen) Co Ltd (深圳市招商局科技投资有限公司) and Jiuquan Steel (Group) Co Ltd (酒泉钢铁(集团)有限责任公司). In other words, the company already has mixed ownership when it was founded.

 

Currently, the broadcasting industry has achieved breakthrough progress in the "One Network in the Country" project with a history of more than ten years. According to the government’s “the National Cable Television Network Integration and Development Implementation Plan”, China Broadcasting Network Shareholding Company (中国广电网络股份有限公司) will eventually establish an operation and management system of "unified construction, unified management, unified standards, and unified brand". China Broadcasting will issue phone numbers start with 192. In order to accelerate the space of its own 5G network construction, China Broadcasting has signed an agreement with China Mobile this year to carried out 5G co-construction and sharing, and cooperate together on content and platform to jointly create a “network + content” ecosystem.


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