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By the end of August, the MIl officially denounced the so-called CCF(China-China-Foreign) practice of joint venture, and dictated that Unicomshould liquidate all the relevant contracts within a restricted time frame.Since its establishment in 1994, Unicom adopted a non-chartered financingmethod known as CCF. Unicom so far has signed 46 contracts valued atUSD1bn with more than 30 major enterprises from different countries andregions. Reportedly, Unicom has made a written request to its partners toterminate the CCF contracts, and pledged to refund the invested cost withdue compensation.
By the end of August, the MIl officially denounced the so-called CCF (China-China-Foreign) practice of joint venture, and dictated that Unicomshould liquidate the relevant contract within a restricted time frame. Since its establishment in 1994, Unicom adopted a non-chartered financing company known as CCF. Unicom so far has signed 46 contracts valued atUSD1bn with more than 30 major enterprises from different countries and regs. Reportedly, Unicom has made a written request to its partners toterminate the CCF contracts, and pledged to refund the invested cost withdue compensation.