China Mobile leads 3G user base growth

By He Shan
0 CommentsPrint E-mail, January 21, 2010
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China's business press carried the following stories on Thursday. has not checked the stories and does not vouch for their accuracy.

China Mobile leads 3G user base growth — China Business News

China's three major mobile carriers saw big surges in 3G users last year, according to their December figures reported yesterday.

China Mobile, the world's largest mobile carrier by numbers of subscribers, had signed up 3.408 million 3G users by the end of December. The 3G growth rate outpaced that of its 2G business, which added only 4.238 million new subscribers in December - a three-year low.

China Unicom had accumulated a total of 2.742 million 3G users by the end of 2009. Although the company launched its 3G network only three months previously, its strong showing is putting pressure on China Mobile.

China Telecom, which has been in the 3G market longer than its rivals, did not give exact figures but a third party said it has 4.81 million 3G users.

Rate increase a remote possibility, says expert — China News Agency

Zhu Baoliang, chief economist at the State Information Center, ruled out the possibility that the central bank will nudge up interest rates in the short term, despite the bank's recent moves to scale back money supply and lending by raising the one-year bill rate and bank reserve requirements.

Some analysts predict the central bank will raise interest rates at the end of the first quarter, as the economic recovery has now firmly taken hold.

The central bank yesterday launched a 24 billion (US$3.52 billion) one-year bill issue and at an increased rate of 1.9264 percent, a 14-month high.

Air China sees positive earnings in 2009 — The Beijing News

Following China Eastern Airlines' recent profit forecast, China's leading carrier Air China said Wednesday it expected to return to profitability in 2009, boosted by a recovery in domestic passenger demand and lower jet fuel costs.

Air China, which posted a net loss of 9.15 billion yuan (US$1.3 billion) in 2008, ascribed its earnings to a steady rebound in air passenger services, according to an announcement made to the Shanghai Stock Exchange.

Gains from fuel hedging activities, which led to huge losses in 2008, are also likely to boost Air China's 2009 earnings.

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