The 5G mobile phone network. Photo: iStock

A total of 98,613 5G base stations have been built in major cities in the Pearl River Delta region, according to a report published by the Guangdong province.

In the first eight months of this year, telecom companies have built 61,625 5G base stations in Guangdong, which exceeded the provincial government’s target of adding 48,000 5G base stations for 2020.

The number of 5G data plan users exceeded 20.74 million in the province, according to the Department of Industry and Information Technology of the Guangdong provincial government.

The province will continue to accelerate the construction of 5G infrastructure and increase its efforts to improve the 5G signals in commercial buildings, residential areas and industrial parks.

Foreign trade

China’s foreign trade grew 0.7% year-on-year to 23.12 trillion yuan (US$3.42 trillion) in the first three quarters of this year, said the General Administration of Customs (GAC).

Exports rose 1.8% to 12.71 trillion yuan, while imports declined 0.6% to 10.41 trillion yuan. China’s trade with the Association of Southeast Asian Nations, its largest trading partner, rose 7.7 % year-on-year to 3.38 trillion yuan during the first three quarters, accounting for 14.6% of its total foreign trade volume.

China’s trade increased 2.9% to 3.23 trillion yuan with the European Union, 2% to 2.82 trillion yuan with the United States and 1.4% to 1.61 trillion yuan with Japan.

China’s trade with countries and regions related to the Belt and Road Initiative amounted to 6.75 trillion yuan in the first three quarters, an increase of 1.5% from the same period last year.

During the third quarter, foreign trade surged 7.5% year-on-year, or up 15.8% quarter-to-quarter, to 8.88 trillion yuan. Exports increased by 10.2% annually to 5 trillion yuan, while imports grew by 4.3% to 3.88 trillion yuan. The three figures recorded high for the period.

During the second quarter, foreign trade decreased 0.2% year-on-year to 7.67 trillion yuan, said the GAC.

China’s foreign trade has been recovering quarter on quarter and is now registering positive cumulative growth, said Li Kuiwen, a spokesperson from the GAC.

Company news

China Eastern Airlines Corp announced on Monday that it had become the first state-owned enterprise to decentralize its ownership by introducing a combined investment of 31 billion yuan from four investors. It said the deal was in line with the directions outlined by the central government.

China Life Insurance Holding will contribute 11 billion yuan, while Shanghai Jiushi Group will contribute 10 billion yuan. China Tourism Group and China Guoxin Asset Management Co Ltd will contribute 5 billion yuan each.

China Eastern Airlines said the investment will help the company expand its operations, optimize its capital structure and create synergies in aviation insurance, transport infrastructure and tourism service segments.

The stories were written by Xu Jiangshan and first published at ATimesCN.com. They were translated by Nadeem Xu.