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China’s Telecommunication Industry Achieves Steady Growth in 2023

Beijing, January 27, 2024, The Europe Today: China’s telecommunication industry demonstrated consistent expansion throughout 2023, propelled by the flourishing of emerging businesses, as revealed by official data.

The Ministry of Industry and Information Technology reported that the collective business revenue of companies within the telecommunication sector reached a substantial 1.68 trillion yuan (approximately 236 billion U.S. dollars) last year, marking a notable 6.2 percent increase compared to the previous year.

The robust performance of emerging sectors, including big data, cloud computing, and the Internet of Things (IoT), significantly contributed to the sector’s overall growth. The combined revenue from these evolving domains witnessed an impressive surge of 19.1 percent year on year in 2023.

In specific terms, revenue generated from cloud computing and big data experienced a remarkable increase of 37.5 percent year on year. Simultaneously, revenue derived from the Internet of Things exhibited a substantial growth of 20.3 percent compared to the levels recorded in 2022.

The data underscores the industry’s adaptability and resilience in embracing innovative technologies and services. The expansion of these transformative sectors not only showcases the industry’s capacity for evolution but also reflects its pivotal role in steering China’s technological advancements. The consistent growth in revenue emphasizes the sustained demand and relevance of telecommunication services in an ever-evolving digital landscape.