13 Nov 2023

According to the latest data from MIIT, China’s telecom business revenue steadily grew 6.8% YoY to Rmb1,281.3bn in 9M23. New businesses (IPTV, IDC, big data, Cloud computing, and IoT) remained key growth momentum for telecom industry. In 9M23, new business revenue increased 19.8% YoY to Rmb270.2bn, accounted for 21.1% of total telecom business revenue. Cloud computing and big data are the key growth drivers with revenue surged 35.0% and 37.1% YoY respectively in 9M23, while IoT revenue grew by 24.1% YoY.

CROSBY Research – Telecom Sector: Industrial Digitalization was the key growth driver for three telcos in 3Q23, CT remains the leader in Industrial Digitalization