China Has 119m 3G Users
Revenue from China's telecommunications services grew 15.6% year on year to ¥1.07 trillion in the first 11 months of 2011, where revenue from mobile services was up 13.6% to ¥651.91 billion, according to the Ministry of Industry and Information Technology. The number of 3G service subscribers has grown by 71.68 million to 118.73 million in the year through November.
Top 4 Banks Ramp Up Lending
New loans made by China's four biggest state-owned banks surged to ¥75 billion in the first half of December after they stepped up lending in the last five days of the period, a well-informed source told China Securities Journal. The four banks lent a combined ¥30 billion in the first 10 days. Total lending of all banks will likely range between ¥550 billion and ¥600 billion in December, the person said.
China's Q3 Online Gaming Revenue Exceeds ¥9.5b
Revenue from China's online gaming market was up 8.5% quarter on quarter and 22.5% year on year to ¥9.51 billion in Q3 2011, according to Analysys International.
$1 = ¥6.33