Nokia No Longer in the Central Enterprise List

Updated:2020/6/4 23:25

According to the latest announcement of SASAC, under the approval of the State Council, Nokia Shanghai Bell (Nokia-SBell) is no longer included in the Enterprise List Sponsored by State-owned Assets Supervision and Administration Commission of the State Council and will be managed by related central enterprises in accordance with shareholding relations. This indicates that Nokia-SBell is removed from the central enterprise list and no longer under direct management of SASAC.

As a joint venture of Nokia and China Huaxin Post and Telecom Technologies Co., Ltd., Nokia-SBell used to be the only joint stock enterprise directly under the central government.

China Huaxin is the first majority shareholder (50% of total shares) of Nokia-SBell. Nokia-SBell announced that after being removed from that list, its shares held in China would be handed to and controlled by China Huaxin. SASAC will continue to support Nokia-SBell’s sino-foreign cooperation and innovative development.

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