CROSBY Research – Telecom Sector: Stringent capex control after 5G buildout peaked, telco’s key focus is on computing power for Cloud and AI usage

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.