Tencent, China's leading Internet value-added services provider, yesterday reported an increase of 10 per cent year-on-year in its net profit to 485.4 million yuan. Tencent's revenue from on-line advertising soared 105.9 per cent to 112.8 million yuan compared with 54.8 million yuan from one year ago. The company's Internet value-added service, or IVAS, also surged by 79.2 per cent to 786.7 million yuan. (HK Edition)

Netcom chairman Zhang Chunjiang said the company may get a 3G license this year. Zuo Xunsheng, vice chairman of China Netcom, said: "Holding a 3G license, China Netcom will be able to provide more services, which will increase revenue. The license also promises a lower investment risk."  (Shanghai Daily)

China Telecom Corp Ltd, the mainland's biggest fixed-line phone company, beat forecasts yesterday with little-changed second-half earnings as its core business matures and it pursues new growth drivers. Growth is slowing as the mainland's telecom market matures and fixed-line operators are losing share as more people go wireless. (HK Edition)