In the first half of the year, investment by China s central enterprises in strategic emerging industries increased by more than 40 percent year-on-year, China Media Group reported on Friday, citing data from the State-owned Assets Supervision and Administration Commission (SASAC) of the State Council.
China’s centrally administered state-owned enterprises (SOEs) achieved stable operations in the first quarter with a year-on-year increase of 15.4 percent in operating income of 9 trillion yuan ($141 billion) despite challenges, official data showed.
The driving effect of robust 5G rollout in China has become prominent as it is bringing increasing profits to local telecom carriers, with more users embracing the technology.
China Mobile, the world’s No.1 operator by subscribers, said on Thursday that first-half net profit rose 6 percent year-on-year to 59.1 billion yuan ($9.13 billion), while revenue grew 13.8 percent to 443.6 billion yuan.
SOURCE / COMPANIES
By Global Times Published: May 24, 2021 07:48 PM
A China Mobile employee adjusts and tests 5G base station equipment at Tongling Railway Station in East China s Anhui Province on April 27. Photo: cnsphoto
China Mobile on Monday announced that funds raised from its listing in the A-share market will be used in a series of projects including 5G boutique network rollout, artificial intelligence (AI), cloud computing and next-generation mobile communication technologies such as 6G, involving a total of 56 billion yuan ($8.71 billion).
According to a statement by the company, 28 billion yuan will be used in 5G boutique network construction projects, 10 billion yuan in the research and development of next-generation telecom technology and digital intelligence ecosystem construction projects, focusing on key areas such as AI, the Internet of Things, cloud computing and other key areas to carry out technological research, and conduct forward-looking research on next
US crippling its financial dominance by elbowing out Chinese telcos: experts
Xie Jun Published: May 09, 2021 07:34 PM
A China Mobile employee adjusts and tests 5G base station equipment at Tongling Railway Station in East China s Anhui Province on April 27. Photo: cnsphoto
Three Chinese telecom giants have announced that they expect their American depositary receipts (ADRs) to be delisted from the New York Stock Exchange (NYSE) soon, reflecting a brewing trend of US segregation of US-listed Chinese companies, which experts said will erode the US dominant role in the global capital market in the long run.
In separate filings by China Mobile, China Unicom and China Telecom on Friday, the companies said that they expected the NYSE to apply to the US Securities and Exchange Commission for permission to delist their ADRs. The companies said that the delisting will be effective 10 days after the application is submitted.