Internet Drives Growth at China Telecom

From FT.com: Internet drives growth at China Telecom

"China Telecom, the country’s largest fixed-line operator, posted a first-half net profit of Rmb11.29bn ($1.39bn), an 8 per cent increase from a year ago.
Company executives said revenue growth this year had in large part been driven by strong demand for broadband internet and value-added services, reflecting a gradual diversification of its business."

"China Telecom, and its main rival China Netcom, have been looking ahead to the government’s allocation of third-generation mobile phone licences. When the licences are handed out, Mr Wang (chairman and chief executive) said his company was likely to focus on providing 3G services in more developed eastern and southern Chinese cities in the initial stages."