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Chinese Telecom Industry’s Revenue Growth Stabilizes in July

MT Newswires ·  08/29 14:16

02:15 AM EDT, 08/29/2022 (MT Newswires) -- China's telecommunications sector registered an 8.3% year-over-year jump in revenue in the first seven months of the year to 944.2 billion yuan ($136.51 billion), the Ministry of Industry and Information Technology (MIIT) said in a release last week.

The pace of growth was unchanged from the rate of expansion recorded in the January-June period, according to earlier data. The MIIT did not provide figures in July alone.

China's big three telecom companies — China Telecom (SHA:601728, HKG:0728), China Mobile (SHA:600941, HKG:0941) and China Unicom (SHA:600050, HKG:0762) — posted higher fixed internet broadband revenue, while revenue from their mobile data traffic business rose at a slower pace during the January-July period.

Their combined revenue from emerging businesses surged 35.1% year over year to 184.3 billion yuan. The increase was driven by the continued growth in the companies' cloud computing, big data, data center and internet of things businesses.

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