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Tax Hikes and Slumping Consumer Spending Weigh Heavily on Chinese Telcos in Q3
Weak consumer spending and regulatory headwinds continue to weigh heavily on China’s telecommunications sector, as lingering economic pressures dampen performance across the board. China Mobile and China Telecom, the two largest telecom operators in the country, published their third-quarter financial figures this week, revealing declines across almost every operational segment. The lackluster results underscore the…
