China Tower Corporation Limited (China Tower), the world's largest provider of telecommunication tower infrastructure services, logged profit and revenue growth in the first half of the year.

The operating revenue of China Tower topped 42.67 billion yuan (about 6.58 billion U.S. dollars) in the first six months, up 7.2 percent year on year, the company said in a filing with the Hong Kong Stock Exchange.

Profits attributable to owners of the company were 16.1 percent higher from a year ago to come in at approximately 3.46 billion yuan in the January-June period.

"5G is becoming the key growth driver of our Telecom Service Provider business," the company noted in its filing, highlighting the role of 5G in stimulating its business growth during the period.

China Tower had completed the construction of approximately 256,000 5G projects in the first half of 2021, and as of June end, the company had managed a total of 2.035 million tower sites, with 12,000 sites added from the end of last year.

The company said that it would continue to capture opportunities brought about by the development of the new 5G infrastructure, the digital economy and the new energy industry to maintain stable revenue growth.

Source:
courtesy of XINHUA NEWS AGENCY

by XINHUA NEWS AGENCY

If you have any stories or news that you would like to share with the global online community, please feel free to share it with us by contacting us directly at [email protected]