China Mobile appoints chairman
China Mobile has appointed Shang Bing, vice president at China’s Ministry of Industry and Information, as chairman.
Shang, who replaces former chairman Xi Guohua, served as senior manager for China Unicom and China Telecom before becoming vice head of China’s ministry of industry and information technology in 2011.
Similar changes are taking place at China Unicom and China Telecom as China Unicom chairman Chang Xiaobing and China Telecom chairman Wang Xiaochu are reportedly swapping roles.
The country is undergoing reforms of state-owned industries in a move to boost the economy.
China Mobile’s net profit in H1 2015 declined 0.8% to $8.95 billion (57.3 billion yuan) while its EBITDA increased to $19.8 billion (126.9 billion yuan). In addition the operator grew its 4G customer base by 99.6 million to a total of 190 million during the period.