China : China Fiber-Optic Network Investment To Total 150B

A three-year plan announced by seven Chinese state ministries for developing fiber-optic networks called for 150 billion yuan in investment to develop 50 million new Internet users, reports Money Weekly.

The report said that 73 investment funds held shares in telecom equipment maker ZTE (000063, 0763.HK), a decline of four funds from the fourth quarter of 2009. Five funds held shares in equipment maker Fiberhome Telecommunication Technologies (600498), while four funds held shares in Hentong Optic-Electric Co (600487). Average net profit growth of 50 companies in the telecom industry was 156.15 percent for 2009, with average operating revenues growth rate of 47.38 percent. Currently, Huawei, Fiberhome Telecommunication Technologies, ZTE and other major vendors account for over 80 percent of China s fiber-optic equipment market, while Fiberhome accounts for over 50 percent market share in China’s FTTx market.Ltd.