In a separate interview,Wu Jichuan said that China Telecom’s revenue rose 5 per cent in 2001, the company’s slowest annual growth rate since the start of China’s economic reform process in 1978. Corporate revenues were affected by the actions of industry regulators, which halved fees for data services and removed expensive connection fees for local phone subscribers.
The company intends to list in New York and Hong Kong some time later this year.