In reference to the recent news that Telstra's CEO Sol Trujillo will depart the company, the Australian communications company says the CEO departure will not affect its strategy in China.

According to Telstra's spokesperson, the company plans to expand its business in China and its goal is to make AUD1 billion, which is about CNY4.3 billion, in China in the next five years. The spokesperson told local media that Telstra's strategy in China is to bring its core competitive power from Australia to China; enter China's Internet sector with its businesses in the Internet and mobile phone contents fields; and create added value through the Internet traffic of the Chinese companies that are invested by Telstra.

He says although the current global financial crisis is happening, extraordinary opportunities still exist in the Chinese market. Telstra will continue to develop its Chinese business with its goal of making AUD1 billion revenue in the next five years and achieving a profit rate of 30 to 40%.

Since 2006, Telstra has completed many acquisitions in China, including the real estate website Soufun.com, the automobile website Che168.com, the operator of the digital product website IT168.com Norstar Media, and Autohome/PCPop. In February 2009, the company acquired a 67% stake in both China M and Sharp Point.