China Telecom 2021 Annual Work Conference Highlights

20 Jan 2021

27-28 December 2020, China Telecom held its 2021 annual work conference in Beijing. The conference summed up the work of 2020, conducted in-depth analysis to the new situation and planned for key missions in 2021. In 2021, the Company will fully implement cloudification and digital transformation strategy as well as promote high-quality development. Mr. Liu Liehong, Vice Minister of the Ministry of Industry and Information Technology (MIIT) attended the conference and made pronouncements. Leaders from MIIT, National Audit Office, the State-owned Assets Supervision, Administration Commission (SASAC) and Ministry of Finance attended the conference.

Mr. Liu strongly acknowledged China Telecom's substantial achievements in 2020, introduced the industry development of information and communications in 2020, analyzed the new situation for the industry development and outlined key work considerations of MIIT in 2021. He pointed out that, China Telecom firmly fulfilled its economic and social responsibilities over the year, accomplished various full year work targets and made significant contributions to accelerate the building of Cyberpower and digital China. Facing the challenging and complex international environment and the devastating impact of COVID-19 pandemic, China Telecom conducted enormous amount of solid and effective work with remarkable results, such as provision of strong support for pandemic prevention and control as well as resumption of work, production and schooling, distinct progress in new infrastructure construction, steady improvement of service quality related to people's livelihood and continuous acceleration in transformation and innovation. For China Telecom's upcoming tasks, he specified enhancements in five areas: enhancing network supply capability to facilitate an even stronger foundation for infrastructure builders; enhancing problem-tackling capability in technological research to facilitate even more powerful energy for promotors of technology innovation; enhancing business development capability to facilitate even more widespread influence of integrated ecological creator; enhancing service capability related to livelihood of the people to facilitate even better reputation of superior service role model; enhancing corporate governance capability to facilitate even greater vitality for explorers of mechanism and reform. Mr. Liu emphasized that the industry of information and communications faces new situations and new challenges while carrying new missions and tasks, and expressed expectations on all staff of China Telecom to carry forward the past success and forge ahead into the future, and to strive tirelessly to deepen reform and innovation and speed up transformation, in order to break new ground in corporate high-quality development, and endeavor to write a brand new chapter on building a Cyberpower and digital China in the new era.

Mr. Ke Ruiwen, Chairman of China Telecom made a pronouncement titled "To Fully Implement the Strategy of Cloudification and Digital Transformation and Promote Corporate High-quality Development", which reviewed key achievements in 2020, including adherence to the customer-oriented approach, firm reliance on the team, persistence in promoting cloud-network integration, persistence in comprehensive deepening reform, persistence in strengthening technological innovation and persistence in safeguarding network and information security. He also highlighted the current circumstances, thoroughly elaborated the strategy of cloudification and digital transformation, and specified requirements for key tasks in 2021.

Mr. Li Zhengmao, President of China Telecom presented the work report at the conference, which summed up the key achievements in 2020 and acknowledged accomplishments in various aspects in the year, such as the prevention and control of the epidemic, market development, service improvement, cloud-network integration, network and information security, corporate reform, technological innovation, internal management and social responsibility, while also identified shortcomings and issues in the work, put forward main development objectives in 2021 and planned for key missions.

The conference stated that 2020 was a very unusual year, during which the Company proactively implemented the strategy of cloudification and digital transformation, accelerated cloud-network integration, continuously deepened corporate reform, coordinated and promoted epidemic prevention and control as well as production and operation. The Company weathered great difficulties and overcome countless obstacles to maintain stable corporate development.

The conference opined that, the industry of information and communications is currently in a critical period of strategic opportunities, and China Telecom is in urgent need of planning ahead and deepening reform. Through analysis in various aspects such as economic development, technological advancement, customer demand, industrial trend and risk exposures, the conference stated that China Telecom needs to proactively grasp development opportunities in vertically industries, go beyond connectivity and enter the area of integrated intelligent information service to empower hundreds of thousands of industries and create new room for corporate development. During the new stage of development, China Telecom needs to strengthen the awareness for opportunity and risk, formulate strategies properly, plan ahead, deepen reform and implement conscientiously.

Based on thorough analysis of the current circumstances, the conference identified key objectives and specific measures, and placed emphasis on elaborating the strategy of cloudification and digital transformation, which is a corporate digital transformation strategy with China Telecom's characteristics, a strategy that based on the new stage of development, opens up new development horizons and promotes high-quality development, the essence of which is the development and reform in a customer-oriented approach, and to make satisfying the customer demand and enhancing customer experience as the intention and goals of all tasks.

The conference emphasized that 2021 will be a crucial and decisive year for the full implementation of the strategy of cloudification and digital transformation, and the creation of the new landscape for China Telecom. The whole Company should adhere to the fundamental principle of work of making progress while maintaining stability, and to implement new philosophies of development, open up new development horizons under the backdrop of the new stage of development. The Company should and set the promotion of high-quality development as the theme, the deepening of supply-side structural reform as the narrative, reform and innovation as the fundamental driving forces, satisfying the people's ever-growing needs for a better life as the fundamental objective, while upholding a system-oriented mindset, strengthening and expanding the achievements from the prevention and control of the epidemic and economic and social development, better coordinating in development and network security, fully implementing the strategy of cloudification and digital transformation, deepening corporate reform, strengthening technological innovation, creating a high-level opened ecosystem and forge full steam ahead with the high-quality development of the enterprise.

The conference set out major tasks in various aspects: (1) to ensure the strategic support to technological innovation and to achieve the breakthrough of key core technologies; (2) to adhere to the customer-oriented principle and to accelerate service upgrade and business expansion; (3) to accelerate the construction of new infrastructure regarding cloud-network integration and proactively empower the internal and external digital transformation; (4) to effectively safeguard network and information security and forge a secure enterprise; (5) to steadily push forward the Three-year Action plan for Reform of State-owned Enterprises and to inject new vitality and impetus to corporate development; (6) to strengthen corporate management and continuously enhance the operational and managerial efficiency; (7) to manage and govern the enterprise in accordance with the law and regulations, bottom-line mindset and prevent and defuse corporate risks; (8) to adhere to co-creation, co-sharing to achieve win-win and create a harmonious atmosphere for development.