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China’s telecoms revenue going down, says Beijing ministry

China Telecom.jpg

Chinese fixed-line telecoms revenue is going up, but overall revenue for China’s three telecoms companies has gone down, according to official figures from Beijing.

The market value of China’s listed internet companies has gone down 4.3% in the same period.

The total revenue from China Mobile, China Telecom and China Unicom went down 0.03% in the first half of 2019 compared with the same period last year. It was 672 billion yuan, the equivalent of $97.7 billion, said the Ministry of Industry and Information Technology (MIIT).

Fixed-line income from the three was 9.8% up on the first half of 2018, reaching 212 billion yuan ($30.8 billion).

China had 1.59 billion mobile phone users at the end of June, up 5% on 2018, and 435 million fixed-line internet customers, of whom 77.1% get speeds over 100Mbps, said MIIT.

China Academy of Information and Communications Technology said in a separate report that the total market value of China’s listed internet companies was 9.75 trillion yuan ($1.41 trillion) at the end of June, a quarter-on-quarter decline of 4.3%, according to a report released by the.

Companies listed in the US, Hong Kong and the Chinese mainland accounted for 52%, 38% and 10% of the total value, respectively, said the academy. Hong Kong-listed companies rose 1.4% in value, while Chinese and US companies fell in value by 13.2% and 6.4% respectively.

Total revenues of China’s listed internet companies in the quarter was 520 billion yuan ($75.4 billion), up 24% over the previous quarter.