China Telecom Corp., Ltd. was incorporated on 10 September 2002 as a limited company in order to float some of the assets of the group in the stock exchange, specifically the wireline telecommunications business in Shanghai, Guangdong, Jiangsu and Zhejiang, as well as other assets from the parent company.
In 2003, it acquired business in Anhui, Fujian, Jiangxi, Guangxi, Chongqing, Sichuan, as well as other assets for CN¥46 billion. In 2004, it acquired business in Hubei, Hunan, Hainan, Guizhou, Yunnan, Shaanxi, Gansu, Qinghai, Ningxia and Xinjiang and other assets for CN¥27.8 billion. In 2007, it acquired three companies China Telecom System Integration, China Telecom Global and China Telecom (Americas) for CN¥1.408 billion. In 2008 the business in Beijing (as China Telecom Group Beijing) was acquired for CN¥5.557 billion. In 2011, e-commerce business and video media business were acquired by China Telecom's subsidiaries E-surfing Pay and E-surfing Media. However, subsidiary E-surfing Media was sold back to the parent company in 2013. In 2012, digital trunking business was acquired from sister company Besttone Holding (a listed company of Shanghai Stock Exchange) for CN¥48 million. In 2013, China Telecom (Europe) was acquired from the parent company for CN¥278 million.