China’s biggest technology and internet groups including Alibaba, Tencent and Baidu will join a list of companies investing $11.7bn in China Unicom, the country’s second-largest wireless telecom operator, in an attempt to revitalise the state-owned group with private capital.

包括阿里巴巴(Alibaba)、腾讯(Tencent)和百度(Baidu)在内的中国最大的科技和互联网集团将加入一系列公司的行列，向中国第二大移动通信运营商中国联通(China Unicom)投资117亿美元，试图用私人资本使这家国有集团恢复生机。

A long list of private and state investors will buy up 35.19 percent of the company’s Shanghai-listed unit China United Network Communications. China Unicom’s shareholding in the unit will be 36.67 per cent.

一长串私营和国有投资方将收购该公司在上海上市的中国联合网络通信股份有限公司35.19%的股份。中国联通将持有该上市公司36.67%的股份。

While the investors include some of China’s top technology brands, such as e-commerce giant JD.com and ride-hailing group Didi Chuxing, it also will bring several large state-owned companies into the picture.

尽管投资方包括一些中国顶级的科技品牌——比如电商巨头京东(JD.com)和叫车服务集团滴滴出行(Didi Chuxing)——但也将有一些大型国企参与进来。

China Life, the country’s largest life insurance group and a state-controlled company, will own 10.22 per cent of Unicom when the transaction is completed, making it the largest investor included in the the scheme. CRRC Corp, the state rail company, will also be a major investor.

在交易完成后，中国最大的人寿保险集团、国有控股的中国人寿(China Life)将拥有联通10.22%的股份，使之成为收购方案中最大的投资方。国有铁路公司中国中车(CRRC Corp)也将成为一大投资方。

Since 2013, China has experimented with so-called “mixed ownership reform”, or allowing private capital into state-owned companies. While the concept was originally hailed as an important step in reforming the state sector, many industry watchers have been disappointed by the lack of real change, especially at the top decision-making level of the groups.

自2013年以来，中国试验了所谓的“混合所有制改革”，即允许私人资本进入国有企业。尽管这一概念最初被标榜为改革国有部门的重要一步，但很多行业观察者对于缺乏真正改变——特别是在集团最高决策层——感到失望。