China's Telecom Industry Sees Steady Growth: Broadband Performance Stands Out, Emerging Businesses Continue to Push Forward

China's Telecom Industry Sees Steady Growth: Broadband Performance Stands Out, Emerging Businesses Continue to Push Forward

China's Telecom Industry Sees Steady Growth: Broadband Performance Stands Out, Emerging Businesses Continue to Push Forward

According to the economic operation report on the telecommunications industry for the first eight months of 2024 released by the Ministry of Industry and Information Technology, telecommunications revenue reached 1,173.2 billion yuan in the first eight months of this year, representing a 2.7% year-on-year increase, indicating an overall growth trend for the industry. Total telecommunications business volume increased by 11.1% year-on-year, reflecting the continued robust development of the telecommunications industry.

The report shows that the three major basic telecom operators have performed well in internet broadband services. In the first eight months, their internet broadband revenue reached 181.6 billion yuan, representing a 4.6% year-on-year increase, accounting for 15.5% of total telecommunications revenue. Compared to the first seven months, this proportion increased by 0.1 percentage points, contributing 0.7 percentage points to the growth of telecommunications revenue.

It is noteworthy that mobile data traffic revenue has declined. In the first eight months, the three major basic telecom operators achieved mobile data traffic revenue of 434.2 billion yuan, down 2% year-on-year, accounting for 37% of total telecommunications revenue, an increase of 0.1 percentage points compared to the first seven months.

In terms of actively expanding emerging businesses, the three major basic telecom operators have continued to push forward in areas such as IPTV, internet data centers, big data, cloud computing, and the Internet of Things. In the first eight months, revenue from these emerging businesses totaled 289.7 billion yuan, representing a 10.5% year-on-year increase, accounting for 24.7% of total telecommunications revenue, driving telecommunications revenue growth by 2.4 percentage points. Among these, cloud computing and big data revenue increased by 12.3% and 61.6% year-on-year respectively, while the Internet of Things business revenue increased by 12.6% year-on-year.

On the other hand, the share of voice service revenue continues to decline. In the first eight months, the three major basic telecom operators achieved fixed voice and mobile voice revenue of 12.94 billion yuan and 72.89 billion yuan respectively, representing a 2.9% year-on-year increase and a 3.9% year-on-year decrease, respectively, accounting for a total of 7.3% of telecommunications revenue, down 0.5 percentage points year-on-year.

Overall, China's telecommunications industry maintained a steady growth trend in the first eight months of 2024. Internet broadband services continue to grow, becoming a major growth driver for telecommunications revenue. At the same time, emerging businesses are developing rapidly, continuously driving the transformation and upgrading of the telecommunications industry. Although mobile data traffic revenue has declined, overall, China's telecommunications industry remains vibrant, with promising future prospects.

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