Telecoms sector booms

18 May 2004

According to China’s Ministry of Information Industry, sales in the country’s telecoms market grew by 44.3% in the year to the end of March 2004 to CNY498.3 billion. Profit for the sector rose by 47.3% to CNY18.2 billion with profits before tax up 38% to CNY23.9 billion. The Ministry has forecast revenue growth of 33.9% for the year to the end of June, although it expects profit growth to fall to around 20.5%.