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Corporate News: China Telecom Records 27.9 Billion Yuan in Net Profits in 2005

Posted on: Friday, 24 March 2006, 09:00 CST

Corporate News: China Telecom records 27.9 billion yuan in net profits in 2005

BEIJING, March 23 (Xinhua) -- China Telecom, a major communications operator in the country, said its net profits last year stood at 27.9 billion yuan (3.49 billion U.S. dollars), down 0.4 percent from the previous year, Thursday's China Securities Journal reported.

Quoting the company's chairman Wang Xiaochu, the report said China Telecom earned 162.53 billion yuan (20 billion dollars) in business income, a growth of 6.4 percent from the previous year.

Wang outlined the company's blueprint for 2006, saying that the company will further strengthen its dominance of the fixed lines market, while expanding Internet access and value-added services.

Income from non-audio services will be increased, he said.

Although there is still no timetable for relevant departments to issue operation licenses for 3G (third generation) mobile communication services, China Telecom is widely believed to have been chosen as one of the three pilots of such services in the future.

The other two are China Mobile and China Netcom.

Source: Xinhua News Agency - CEIS

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