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Microcap & Penny Stocks : Globalstar Telecommunications Limited GSAT

GSAT 50.53

+4.7%

Nov 7 3:59 PM EST

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To: djane who wrote (4156)	4/25/1999 4:56:00 AM
From: djane	Read Replies (2) of 29986

120 million China Telecom subscribers chinaonline.com China's Telecommunication and Postal Sector Saw Strong First Quarter Growth (4/23/99) China's telecommunications and postal sector recorded strong growth during the first quarter, reported the industry's regulatory agency, the Ministry of Information Industry (MII), in the April 20 Renmin Youdian Bao (People's Posts & Telecom). The telecom sector saw a 36% jump in business volume during the first quarter to reach RMB 64.5 billion (US$7.8 billion) year-on-year. China Telecom's revenue increased 22% during the same period to RMB 49 billion (US$6 billion). China Unicom's revenue reached RMB 740 million (US$89 million), an increase of 14% from last year. During the first quarter, China Telecom signed up 9.2 million new telephone subscribers, an increase of 31% year-on-year. This brought the company's total number of subscribers to 120 million. Sales of program-controlled switching systems grew to 5.5 million lines, an increase of 65% year-on-year. Computer sales increased 5% to 1.1 million unit sales. The MII reported that combined business volume for the posts and telecommunications sectors was RMB 68.7 billion (US$8.3 billion), a 32% increase year-on-year. During the first quarter, China's electronics industry saw output value of RMB 135.9 billion (US$16.4 billion), an increase of 37% year-on-year. The total business volume of the postal sector for the first quarter was RMB 4.2 billion (US$506.7 million), an increase of 5% year-on-year, and 21% of the government's planned growth for the industry in 1999. © ChinaOnline 1999.

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