China Telecom is cutting its 5G investment as it re-prioritizes data centers and looks at listing its cloud unit, reports Caixin. The telecom giant plans to invest RMB 34 billion ($5.3 billion) in 5G infrastructure in 2022, representing a year-on-year decrease of 10.5%, while total capital expenditure is set to reach RMB 93 billion, up 7% from a year ago.
The spending cut for 5G comes at a time when China is accelerating the rollout of base stations to promote the use of 5G wireless technology, which has been adopted in industries ranging from public transportation to smart manufacturing.
As of the end of 2021, China Telecom said that it had about 690,000 5G base stations in service across China, with a goal to increase the number to 990,000 by the end of this year.
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