Mar 18, 2022 08:10 PM

TECH

China Telecom Scales Back 5G investment, Steps Up Industrial Digitalization

By Qin Min and Ding Yi

China Telecom will scale back 5G investment and focus more on data centers in 2022. Photo: VCG

China Telecom will scale back 5G investment and focus more on data centers in 2022. Photo: VCG

China Telecom Corp. Ltd. is scaling back its 5G investment as it pivots to focus on data centers — now a national priority — and explores listing its cloud unit, according to Chairman Ke Ruiwen.

The telecom giant plans to invest 34 billion yuan ($5.3 billion) in 5G infrastructure in 2022, representing a year-on-year decrease of 10.5%, while total capital expenditure is set to reach 93 billion yuan, up 7% from a year ago, Ke said in an earnings call on Thursday.

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