China: telecommunications industry revenue 2024
In March 2023, China had generated a cumulative revenue of about 151 billion yuan from its telecommunications industry. The telecommunications industry had a year-on-year growth rate of approximately 4.8 percent that month.
Overview of the Chinese telecommunications industry
The telecommunications industry in China has experienced several transformations and has achieved remarkable growth over the past years. The business volume of telecommunication service providers almost tripled in the last decade. By the end of 2021, there were more than 1.6 billion mobile service users across China. Nevertheless, the development of the telecommunications industry in China was impeded by the enormous regional disparity. While the residents from the eastern part enjoyed high-speed internet and the 5G mobile network, many people from middle and western villages still didn’t have access to fix-lined telephones. The Chinese government has implemented a series of strategies to fill the regional gap.
Chinese companies in the telecommunications industry
Its entry into the World Trade Organization in 2001 signified China officially becoming a part of global trade and economy. Nowadays, Chinese companies have game-changing power in the global telecom industry. The state-owned telecommunication service provider, China Mobile, was listed as the third-largest telecom provider worldwide based on revenue, while Huawei became the most valuable telecommunication infrastructure company in 2020.
