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Investment in China's telecom industry plunges in October

(Xinhua)

16:25, November 23, 2011

BEIJING, Nov. 23 (Xinhua) -- Completed fixed assets investment in China's telecom sector plunged 42.89 percent in October from the previous month.

A total of 21.77 billion yuan (3.43 billion U.S. dollars) of investment was completed last month, and 229.21 billion yuan for the first 10 months, according to a post on the Ministry of Industry and Information Technology's website Tuesday.

On a monthly basis, the sector's business turnover also declined, down 2.16 percent to 92.85 billion yuan in October, it said.

As of the end of October, the number of the country's mobile phone subscribers totaled 963.99 million, 104.99 million more than the start of the year.

Meanwhile, the number of fixed-line subscribers decreased by 6.65 million during the Jan.-Oct. period to 287.69 million.

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