In 2020, the telecom industry was one of a small number of industries not affected by the COVID-19 pandemic. China's three major operators have all grown in terms of revenue from telecom services, with fixed-line services and emerging services as the main drivers for growth.
In 2020, China's operators maintained low profit growth, but the increase was mainly due to the reduced sales expense (an increase in online and low-cost sales capacity). How to improve revenue growth in 2021 will be key to the development of China's operators.
In 2020, with the deployment of 5G network and the increase in mobile station sites (more tower leases), China's three operators' network operating costs grew rapidly, and network costs grew much faster than the network revenue. How to rationally control network construction and operation and maintenance costs will be a major problem for China operators to address in 2021.
Tencent Holdings Limited, China Mobile Limited, Baidu, Inc., JD.com, Inc., Huawei Technologies Co., Ltd., China Telecom Corporation Limited, China Unicom Limited, Xiaomi Inc., Alibaba Group Holding Limited