What does Unicom mean by mixed reform?

The general idea of China Unicom's pilot reform of mixed ownership is to actively introduce domestic investors, reduce the proportion of state-owned shares, release part of the company's shares to other state-owned and non-state-owned capital, substantially promote the reform of mixed ownership, improve the enterprise system and corporate governance mechanism with the guidance of marketization, focus on the company's main business and innovative business model, develop basic business and innovative business on a large scale, comprehensively improve the efficiency and competitiveness of enterprises, realize the company's strategic objectives, and provide information and supply-side structural reform for the national economy and society.

China Unicom's pilot reform of mixed ownership will adopt a combination of non-public offering and transfer of old shares, and introduce four types of strategic investors who are in the leading position in the industry and have synergistic effects with China Unicom, including large Internet companies, leading companies in vertical industries, powerful industrial groups and financial enterprises, and leading industrial funds in China. Specifically, the strategic investors introduced in this mixed reform, such as China Life Insurance, Tencent, Baidu, JD.COM, Alibaba, Suning Shang Yun, Guangqi Group, Qianhai Parent Fund and Didi Chuxing, have a high degree of correlation and strong complementarity with the main business of China Unicom, which is helpful to combine the company's resource advantages in network, customers, data, marketing services and industrial chain influence with the advantages of strategic investor mechanism and innovative business, and realize the modernization of corporate governance mechanism and marketization of operating mechanism.