5G customers reach 70.2m in H1: China Mobile

China Mobile recorded 70.2 million customers who bought 5G packages in the first half of this year, according to the company's 2020 Interim Results released on the Hong Kong Stock Exchange on Thursday.

With a total of 947 million mobile customers, the number of 4G customers reached 760 million as of the end of June, with average handset data traffic per user per month rising 39.7 percent to 8.6 GB.

The operating revenue of the company rose by 0.1 percent to reach 389.9 billion yuan ($56.15 billion), of which 358.2 billion yuan came from telecommunications services, representing an increase of 1.9 percent.

Profit attributable to equity shareholders was 55.8 billion yuan, or 2.72 yuan per share, reflecting a leading position in profitability among top-tier global telecommunications operators.

The company witnessed a total number of 197 million wireline broadband customers, representing a net addition of 10.08 million.

Meanwhile, China Mobile also announced Dong Xin was appointed as the CEO of the company, a change which takes effect on Aug 13, according to another report on redesignation of company directors.

Following this appointment, Dong serves as executive director and CEO of China Mobile, one of China's three major telecommunications carriers, who are spending big and plan to invest more in 5G construction this year.

As a leader in 5G development, China is expected to contribute 49.4 percent of 5G investment globally this year, according to a report by market consultancy Gartner Inc.

China's efforts in 5G commercialization will drive 900 billion yuan direct investment this year and 5G technology is expected to create a total economic output of 6.3 trillion yuan by 2030, according to a report by the China Academy of Information and Communications Technology.