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China's inv't in telecom sector to hit RMB 370 bln in 2012

May. 28, 2012 (China Knowledge) - China's investment in the telecommunication industry will reached RMB 370 billion this year, reflecting a growth of more than 10% YoY, said a senior official with the Ministry of Industry and Information Technology (MIIT) on Friday.

Shang Bing, vice minister of MIIT, said that the country would see a new round of telecom infrastructure construction upsurge as the government is trying to boost its slowing economy by increasing investments in infrastructure projects.

In the first four months of this year, China's fixed-asset investment in the telecom industry rose 10.6% from the dame period of 2011 to RMB 66.01 billion.

Chinese telecom operators saw their revenue from core business grow 10.1% YoY to RMB 339.05 billion in the first four months of this year. The industry's total business volume was RMB 419.06 billion during the period up 14.8% YoY, China Knowledge reported earlier.

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