The value-added tax on telecommunications services in mainland China has been raised to 9%. China Telecom and China Unicom opened lower by 6% to 7%, while China Mobile opened lower by 2%

AASTOCKS
2026.02.02 01:23

The three major Chinese telecom stocks in the mainland were under pressure this morning (2nd). China Mobile (00941.HK) opened down 2.26% at HKD 78, with a pre-market transaction of 1.475 million shares, involving HKD 115 million.

China Telecom (00728.HK) opened down 6.32% at HKD 5.04, with a pre-market transaction of 4.072 million shares, involving HKD 20.5229 million.

China Unicom (00762.HK) opened down 7.04% at HKD 7.39, with a pre-market transaction of 5.108 million shares, involving HKD 37.7481 million.

The three major Chinese telecom operators announced that recently, the Ministry of Finance and the State Administration of Taxation issued a notice regarding the specific scope of value-added tax collection, stating that starting from January 1 of this year, within the national borders, business activities that provide mobile data services, SMS and MMS services, and internet broadband access services using fixed networks, mobile networks, satellites, and the internet will have their tax category adjusted from value-added telecom services to basic telecom services, with the corresponding value-added tax rate adjusted from 6% to 9%

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