China's telecom industry Jan-Oct revenue reaches RMB 679.7 bln

Revenue of China's telecommunications industry rose 8.1% to RMB 679.7 billion in the first ten months of this year, sources reported, citing statistics from the Ministry of Industry and Information Technology.

Total capital expenditure in the industry for the period climbed 9.9% to RMB 185 billion. In October alone, revenue of the industry dropped 4.5%.

Analysts attribute the slowdown to the recent industry restructuring among the mergers of six major Chinese telecom operators. They also expect double-digit growth for the telecommunications industry in the near future as the new companies after the major overhaul will be able to operate both fixed-line and mobile services, with plans to invest more in the 3G business.