More on China Unicom's mixed-ownership reform now.  By adopting a combination of a non-public offering and an old stock transfer, the state-owned company has attracted four types of strategic investors in industry-leading positions. The 14 investors include domestic Internet giants, leading companies in vertical industries, financial enterprises, industrial groups and leading domestic industry funds. As for the shareholding ratio: Well, state-owned China Life Insurance will acquire more than 10 percent of the company, while private investors such as Tencent, Baidu and Jingdong Group will hold smaller stakes. After the issuance, the private investors' aggregated share will be only slightly lower than China Unicom's.