With the addition of 31.66 million subscribers in H1 2018, China Telecom is now the world’s fifth biggest telco by subscribers

China Telecom has posted a strong set of financials for the first half of 2018, with net profits rising 8.1 per cent on a year-on-year basis.

China Telecom beat analysts’ expectations, with net profits reaching 13.57 billion yuan ($1.97 billion, compared to the 13.25 billion yuan ($1.93 billion) forecast by a panel of experts polled by Reuters.

In a pre-prepared statement to the media, China Telecom’s chairman and chief executive officer, Yang Jie, said that the company remained on courser to hit its full year gals for 2018.

"Looking ahead into the future, we are full of confidence. We will firmly seize the precious opportunities and actively respond to various challenges. With perseverance in scale development, we will adapt to the market changes momentum and optimise competition strategies. We will also persist in excellent execution, continuous enhancement of capabilities and optimisation of customers’ experience," he said.

China Telecom added 35.27 million 4G subscribers in the first half of 2018, bringing the total number of subscribers able to access its 4G networks to 217 million. In total, China Telecom boasts a massive 282 million subscribers, 77 per cent of whom were able to access 4G networks for both voice and data services.  

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