The stock of China Unicom strengthened in the afternoon of May 24 with the high end in trading reaching 11.34 Hong Kong dollars, hitting a two-year high. China Unicom's stock has climbed 4.28 percent as of the suspension.
It is known that the rise of China Unicom's stock may be related to an announcement made by the National Development and Reform Commission website that day that the effects of the mixed ownership reform have been gradually felt in China.
It is reported that China Unicom is among the first batch of the state-owned enterprises conducting pilot mixed ownership reform while the mixed ownership scheme is still being drawn up.
Chairman of China Unicom Wang Xiaochu said that it is difficult to deal with the reform given that the company needs communication with ten ministries and commissions to which he went personally. Things finalized will be released in real time, and the mixed ownership reform will include new listings and old shares sale, Mr. Wang said.
China Unicom, Mr. Wang noted, did this so as to be in line with the policy development and make its operations more market-oriented, not to raise funds. However, China Unicom Group has a close relationship with its A-share company, which is believed to be helpful to the company's development, especially in the innovative business and 5G.