HONG KONG — China’s state-owned telecommunications operators are slashing their capital expenditure and increasing cash dividend payouts, diligently following central government orders and keeping their powder dry for the next wave of heavy spending on 6G mobile network infrastructure.
China Telecom announced on Tuesday that its capex for 2024 came to 93.51 billion yuan ($12.9 billion), 5% lower than the previous year. The forecast for this year is even lower, at 83.6 billion yuan, down 11% and lowering the amount to the level before the peak 5G network investment years of around 2020 to 2023.
