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Chinese Telecom Stocks Spike on 3G Implementation News

China Business News, 12/28/07

Although the State Council has only passed a program for implementation of next-generation wireless mobile communications networks, many in the investment sector are interpreting this as approval for 3G implementation, leading to a jump in share prices for 3G firms.

Datang Telecom (600198.SH) shares rose 4.99%, to RMB 18.94, before hitting their limit up. ZTE (0763.HK; 000063.SZ) rose 7.4%, to RMB 63.69; while China Unicom (NYSE: CHU; 0762.HK; 600050.SH) rose 8.28% to RMB 12.29.

Gohigh Data Networks (000851.SZ), BOCO Inter-Telecom (600289.SH) and Guomai Technologies (002093.SZ) all closed limit-up.

The State Council also indicated December 26 that it is to promote further restructuring of SOEs. However, a telecom industry source close to policy-makers said this did not specifically refer to the telecom sector and that markets were over-reacting.

Keywords: 3G policy State Council Datang Telecom 600198.SH ZTE 0763.HK 000063.SZ China Unicom CHU 0762.HK 600050.SH Gohigh Data Networks 000851.SZ BOCO Inter-Telecom 600289.SH Guomai Technologies 002093.SZ SOE restructuring telecom wireless


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The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

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