16 Apr 2024
According to the latest data from MIIT, China’s telecom business revenue steadily grew 4.3% YoY to Rmb292.3bn in Jan-Feb (2M24). New businesses (IPTV, IDC, big data, Cloud computing, and IoT) remained key growth momentum for telecom industry. In 2M24, new business revenue increased 11.3% YoY to Rmb75.8bn, accounted for 25.9% of total telecom business revenue. Big data and Cloud computing remained the key growth driver with revenue grew 30.3%/17.3% YoY in 2M24, while IoT revenue grew 8.5% YoY.
CROSBY Research – Telecom Sector: Stringent capex control after 5G buildout peaked, telco’s key focus is on computing power for Cloud and AI usage