Telecom Sector Update: Telecom industry continued to be driven by new businesses, especially big data segment

27 Jun 2024

According to the latest data from MIIT, China’s telecom business revenue steadily grew 3.7% YoY to Rmb738.7bn in Jan-May (5M24). In May, telecom service revenue increased 2.6% YoY (+2.8% YoY in Apr) to Rmb146.3bn, driven by strong new business growth of 27.5% YoY, and a stable 6.7% YoY fixed-line broadband business growth.