China Unicom partnering up with Alibaba

China United Network Communications Ltd said it has partnered with internet giants in a move to arrest its continuing profit decline and speed up its shift toward the mobile internet.

China Unicom, the country's second-biggest telecom carrier, made the remarks on Saturday after it inked a strategic partnership with e-commerce giant Alibaba Group Holding Ltd to cooperate on basic telecommunication services, mobile internet and industrial internet.

Wang Xiaochu, chairman of China Unicom, said the all-round deep cooperation between China Unicom and Alibaba has a solid foundation. Jack Ma, founder and chairman of Alibaba, said he has high expectations for the cooperation deal.