Baidu, JD.com among those investing in China Unicom: sources

Hong Kong

BAIDU Inc and JD.com will join other big Chinese technology firms to jointly invest about US$12 billion in the Shanghai-listed unit of China Unicom, the weakest of three big state-owned telecoms firms, two people with direct knowledge of the matter said.

The move is part of the Chinese government's drive to rejuvenate state behemoths with private capital. Beijing added China Unicom last year to a first batch of state-owned enterprises to see mixed-ownership reform.