China Unicom
The intermediate parent company "China Unicom (Hong Kong) Limited" was "China Unicom (BVI) Limited", , the BVI company owned 77.47% shares of China Unicom (H.K.). In turn, China Unicom (H.K.) owned the operating subsidiaries of the group. In 2002, another intermediate parent company "China United Network Communications Limited" was established in Shanghai (headquartered in Beijing), to own 51% stake of "China Unicom (BVI) Limited" as well as listing the shares in the Shanghai Stock Exchange. , state-owned China Unicom Group owned 74.6% shares of the A share company, in turn the A share company owned 73.84% of the BVI company. The BVI company owned 77.47% shares of the red chip company. To sum up, the Chinese Government via A share company, owned 42.67% stake of the operating subsidiaries, as well as additional 20.27% stake by the minority stake in the BVI company.