China Unicom, Alibaba Form Cloud Services JV

Tencent Tech, 8/03/18

Telecom operator China Unicom (NYSE: CHU; 0762.HK; 600050.SH) and Chinese internet conglomerate Alibaba Group (NYSE: BABA) announced this morning that they will establish a joint venture subsidiary called Yunli Zhihui Technology, with RMB 353 mln in registered capital.

Liang Baojun, general manager at China Unicom, will serve as chairman of the new company and Hu Xiaoming, CEO at Alibaba's cloud computing arm Alibaba Cloud, will serve as deputy chairman. Yunli Zhihui Technology will focus on cloud services in the government, finance, ecology and environment, public security, and manufacturing domains and will draw on China Unicom's capabilities in the government and enterprise markets and telecommunications infrastructure domain as well as Alibaba's big data, cloud computing, Internet of Things, and artificial intelligence resources.

Editor's Note: According to Chinese news media, Unicom will hold 51% and Alibaba will hold 34%.

Keywords: China Unicom Internet telecom cloud computing JV 0762.HK 600050.SH CHU Liang Baojun Alibaba Group Hu Xiaoming BABA AliCloud

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