China has been accelerating its push for mixed-ownership reforms in an effort to boost the competitiveness of state firms.

It was not immediately clear what the planned company would do.

Shares in China Unicom surged 10% in Shanghai, forcing a temporary suspension of trade. Trade in its Hong Kong-listed shares had ended before the news emerged as the stock market there was closed early due to a typhoon.

The State Administration for Market Regulation approved the application, according to a list it published.

(Reporting by Josh Ye; Editing by Edwina Gibbs)