China’s top telecommunication operators continue to rally, with an index tracking the sector compiled by Wind Information surging by more than 6.5%, making it the best-performing sector in the A-share market.
China Unicom is surging by the daily limit of 10% to hit the highest in more than two years, while China Telecom and China Mobile are jumping 5.8% and 4%, both hit the highest levels on record.
Shares of telecom equipment companies are also surging, with Raisecom Technology and Nanjing Huamai Technology surging by the daily limit of 10% and T&S Communications up 8.7%.
Earlier this week, the State Council released guidelines for the country’s digital development, aiming to step up construction of digital infrastructure.
Building a “digital China” is an important engine for promoting Chinese-style modernization in the digital age, and it’s a strong support for building new advantages in global competition, according to guidelines released by the State Council.
By 2025, China’s digital infrastructure will be efficiently connected through a broad range of sectors, and China will become a global leader in digital innovations, it said.
By 2035, the level of digital development in China will enter the forefront of the world, according to the guidelines.
It highlighted major technology breakthroughs and vowed to strengthen “key capbilities” of building a “digital China” and called for building a credible and manageable digital security apparatus, to maintain network security through improving the system of network security laws, regulations and policies.