China Telecom recently established a new subsidiary – China Telecom Quantum Information Technology Group – in Hefei city, capital of East China's Anhui province.

The new company is based in Zhongan Chuanggu Technology Park, an innovation and entrepreneurship community that is located in the Hefei National High-tech Industry Development Zone.

With a registered capital of 3 billion yuan ($422.07 million), it will be responsible for the R&D and commercialization of China Telecom's quantum information technological advances and achievements.

Leaders and company executives launch China Telecom Quantum Information Technology Group in Hefei on May 29. [Photo/WeChat ID: hefeigaoxinfabu]

Zhang Yuzhuo, chairman of the State-owned Assets Supervision and Administration Commission, or SASAC, attended the launch.

He called on China Telecom to aim to reach the frontiers of quantum technology, as well as strengthen quantum science and technology research to produce more significant results and promote the commercialization of technological achievements.

Ke Ruiwen, chairman of China Telecom, said the group would strive to become the world's leading quantum technology enterprise, help Anhui to become a global quantum center and launch more quantum technology innovation products and services.

Furthermore, it would make every effort to promote the high-quality development of the quantum technology industry, Ke added.