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Telco’s 4G plan lifts shares
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SHANGHAI stocks rose yesterday as investors were buoyed by China Mobile’s plan to grow its 4G user base that should boost the telecommunications industry.
The Shanghai Composite Index added 0.58 percent to 3,222.36 points.
China Mobile, the world’s biggest mobile carrier, yesterday said it aims to add 250 million 4G users by the end of this year, more than double from the current level, as it taps more 4G base stations and a wider choice of low-cost 4G models. By the end of January, China Mobile boasted more than 100 million 4G users and over 700,000 4G base stations nationwide.
China Unicom and China Telecom are set to receive new 4G licenses soon.
China Unicom surged by the 10 percent daily limit to 5.34 yuan (86 US cents), and Datang Telecom Technology rose 5.27 percent to 19.97 yuan.
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