US telecommunications giant AT&T will move its Greater China headquarters from Hong Kong to Shanghai to break into the growing telecommunications market in the Mainland. The move will not lead to job losses at the Hong Kong office, an AT&T spokesman said. AT&T, a current partner in mainland telecom joint venture Shanghai Symphony, signed leasing contracts with China Telecom and China Netcom in June, expanding its coverage to 135 cities. AT&T follows Walmart, McDonalds, UPS and other MNCs in moving China headquarters to the Mainland.
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