Chinese telecommunication equipment companies rally after industry minister vowed to accelerate 6G development 
Chinese telecommunication equipment companies rally after industry minister vowed to accelerate 6G development 

Chinese telecommunication equipment companies rally after industry minister vowed to accelerate 6G development 

 

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Jin Zhuanglong, China’s Minister of Industry and Information Technology, said China has built the world’s largest and most advanced 5G network, with more than 575 million 5G mobile phone users, and this year it will build and open 600,000 new 5G base stations, bringing the total to more than 2.9 million.

China has started proceeding 6G development and it will strengthen international cooperation and accelerate the research and development of 6G technology, he said.

Shares of COMBA Telecom is surging more than 7% in Hong Kong to hit the highest in 52 weeks. China Communication Service is gaining more than 5%, gaining for the fifth consecutive day. China Tower gained as much as 4.5% and Yangtze Optical Fibre and Cable rose more than 2.5%.

The three state-owned telecommunication operators continue to surge, with China Mobile, China Telecom and China Unicom surging more than 4%.

Chinese Premier Li Keqiang said in his “Government Work Report” that in the past five years, the government has promoted faster internet and lowered fees, developed the “Internet Plus” initiative, and increased the total number of mobile internet users to 1.45 billion.

The government supports the development of industrial internet and has effectively promoted the digitization and intelligence of the manufacturing industry, Li said.

Chinese telecommunication equipment companies rally after industry minister vowed to accelerate 6G development