China Netcom opens London HQ

China’s second largest fixed-line telephone company, China Netcom, is opening its European Headquarters in London this week.

In line with China’s current “go-global policy, China Netcom plans to serve both Chinese companies with operations in Europe and European companies with operations in China, via its telecoms network.

The company’s network already covers cities in Asia, Europe and the US, and China Netcom is hoping to extend it further, as part of its international expansion plans.

The ‘Go-Global’ policy is part of China’s efforts to help Chinese companies compete with rivals in the US, Japan and Europe.

China’s leaders actively encourage Chinese enterprises to establish operations overseas and acquire foreign assets, in order to strengthen their ability to compete against multi-nationals from other parts of the world.

China Netcom will compete against well-establish telecoms operators, such as BT, AT&T a Verizon Communications.

The company currently has 114.48 million fixed-line subscribers and 18.4 million broadband customers.