BUSINESS China Telecom posts higher profits, revenues in 2020

BUSINESS

China Telecom posts higher profits, revenues in 2020

Xinhua

14:19, March 14, 2021

The company logo of China Telecom is displayed at a news conference in Hong Kong, China on Aug 20, 2018. (File photo: Agencies)

BEIJING - China Telecom, one of China's three largest telecom operators, reported growth in both profits and operating revenues last year.

The company's net profits totaled 20.85 billion yuan (about 3.2 billion U.S. dollars), up 1.6 percent year on year, the company said in a statement.

Operating revenues rose 4.7 percent from a year ago to 393.6 billion yuan.

By the end of 2020, the company's mobile subscribers totaled 351 million, with the number of 5G package subscribers rising to 86.5 million.

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