Telecom merger to usher in 5G era

A new Chinese telecommunication giant was unveiled on Friday after two major State-owned players merged to better prepare for opportunities brought by fifth-generation mobile communication technologies.

China Information and Communication Technologies Group Corp was established after optical communication equipment maker FiberHome Technologies Group and telecom equipment maker Datang Telecom Group merged.

The new group is headquartered in Wuhan, capital of Hubei province, with registered capital of 30 billion yuan ($4.42 billion). Boasting 80 billion yuan worth of assets and 38,000 employees, its annual revenue stands at about 60 billion yuan. Fiber-Home and Datang Telecom now function as its subsidiaries.