Telecommunication Services

CHINA TELECOM

Three Major Chinese Telecom Stocks Rise, Morgan Stanley Praises China Telecom's Token Plan for New AI Business Model

China Telecom Launches Concentrated Procurement of Tianyi Smart Screen and Unveils AI Upgrade

China Telecom, Huawei, and FiberHome Complete Global First Interoperability Verification of 50G-PON Equipment Across Vendors

China Telecom Shanghai Releases "AI Home Assistant" to Reconstruct Home Services

China Telecom Launches Series of Trial Commercial Token Plans and Tianyi Token Coins

Shanghai Telecom Launches Zhiyun Shanghai AI STORE and Initiates Multi-party AI Ecosystem Cooperation

China Telecom Launches 10 Billion RMB 'Token Factory' Tender, Major Operators Compete in Computing Power Sector

China Telecom Shanghai Unveils 'Smart Cloud Shanghai' Progress: AI Base Empowers Urban Digitalization and Livelihood Services

Sichuan Tianfu New Area Committee and China Telecom Sign Agreement to Launch 2 Billion RMB Cloud Computing Center Construction

China Telecom Completes Asia Link Cable Landing in Hong Kong

China Telecom Launches 2026 Metropolitan Cloud Network MCN Equipment Procurement

China Telecom Proposes Token Economy to Reconstruct Business

China Telecom Initiates the Establishment of the Token Ecosystem Alliance

CT 董事长 Announces Strategic Upgrade and Pushes for Intelligent Cloud System Construction

China Telecom Emphasizes Cloud and Digital Transformation and Accelerates AI Deployment

Huatai Securities Cuts China Telecom's Target Price but Maintains Buy Rating

Citibank Reports China Telecom Q1 2026 Earnings Disappointing

China Internet Network Information Center and Others Release Intelligent Body Internet Domain System and AI Intelligent Body Gateway System

China Telecom Announces Q1 2026 Operational Data

China Telecom Announces First Quarter Profit and Revenue

China Telecom Corporation Limited 2025 Mid-term Performance Briefing

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Citi's report highlights a significant shift among China's major telecom operators—China Telecom, China Mobile, and China Unicom—toward AI Token plans, moving from traditional billing to a utility-like AI subscription model. This transition could lead to a valuation re-rating as telecoms leverage their networks and data centers for AI applications. However, the success of this model hinges on user adoption and the competitiveness of their proprietary AI models.

AASTOCKS News

CHINA MOBILE

China Mobile

China Unicom

CHINA UNICOM

China Southern CSI Communication Service ETF

Harvest CNI Communication ETF

Guotai CSI All Share Communications Equipment ETF

ChinaAMC CSI 5G Communication ETF

Citigroup

Chagee

CITIGROUP INC 6.250 NON CUM SER II PFD WI

CN Mobile HK SDR 5to1

CHINA MOBILE-R

Citi: "Telecom Big Three" Shift Toward Foundational AI Infrastructure Suppliers, Ushering in Potential Valuation Re-rating

China's telecom giants, China Telecom, China Mobile, and China Unicom, are transitioning to the AI token economy by launching token-based service plans. This shift marks a departure from traditional pricing models, focusing on monetizing AI services and tokenized consumption. China Telecom has introduced various token packages, while China Mobile and China Unicom are developing regional partnerships and AI-driven offerings. The surge in token usage, from 100 billion to 140 trillion daily, highlights the industry's pivot towards token operations as a new growth strategy.

TechNode

TENCENT

Tencent

BABA-W

Alibaba

TENCENT-R

Tencent HK SDR 10to1

Tencent Holdings Limited

BABA-WR

Alibaba HK SDR 5to1

China’s three telecom giants race into the AI token economy

China Telecom's shares rose 3.7% to CNY7.07 after launching trial commercial token plans, joining China Mobile and China Unicom in the token services market. The plans cater to developers and small enterprises, with prices ranging from CNY39.90 to CNY299.90. Analysts suggest telecom operators can monetize AI computing capacity, but token revenue may not sustain long-term growth without innovative applications. Average daily token usage in China exceeded 140 trillion as of March.

Yicai

China Telecom's Shares Rise After Becoming Last of Country's Big Three Telcos to Roll Out Token Plans

JPMorgan has rated the three major Chinese telecom stocks—CHINA MOBILE, CHINA TELECOM, and CHINA UNICOM—as Overweight, following a rise in H-share prices due to AI Token packages targeting SMEs and retail users. CHINA MOBILE is the top pick, while CHINA TELECOM is seen as a proxy for the AI Token theme, with expectations of significant revenue growth from its cloud business. The bank anticipates ARPU growth resuming in 2026 and earnings recovery in 2027, despite VAT adjustments impacting 2026.

JPMorgan Chase

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

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JPM: CHINA TELECOM  Proxy for AI Token Theme; Three Major Telecoms Rated Overweight, CHINA MOBILE Top Pick

UBS reports that China Telecom, China Unicom, and China Mobile have launched Token packages for customers, enhancing AI adoption. China Telecom leads with nationwide rollout, while the others pilot regionally. This move is seen as a step towards standardizing AI consumption in China, potentially transforming Token usage into a subscription model. Despite muted stock performance, UBS views these packages as a new growth driver, assigning a 'Neutral' rating to the telecom stocks.

UBS Group AG

UBS: 3 Key CN Telecoms Launch Token Packages, Providing New Growth Drivers

CHINA TELECOM shares rose over 4% after Morgan Stanley reported the launch of a nationwide Token plan for enterprise and consumer customers, marking a significant move to explore new business models in the AI era. The plan offers a monthly subscription model, differing from previous provincial-level offerings by competitors. Morgan Stanley believes this initiative is crucial for telecom operators seeking new revenue sources as mobile data penetration peaks.

Morgan Stanley

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CHINA TELECOM  Once Jumps Over 4% as M Stanley Says Nationwide Token Plan Is Positive Move to Test New Business Models in AI Era

China's telecom giants are introducing AI token plans to monetize the AI boom, moving away from traditional gigabyte billing. China Telecom launched nationwide token-based pricing packages for consumers and businesses, with prices ranging from 9.9 yuan for 10 million tokens to 299.9 yuan for 250 million tokens. Other carriers like China Unicom and China Mobile are also adopting similar strategies. The demand for AI tokens has surged, with over 140 trillion token calls recorded daily in March.

SCMP

KNOWLEDGE ATLAS

Forget cellular data: China’s telecoms giants are selling AI token plans

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The HSI fell 287 points (1.1%) to 25,675, while the HSTI dropped 96 points (1.9%) to 4,844. LI AUTO saw a significant decline of over 14%, closing at $64.9. Market turnover increased to $292.71 billion, with notable short selling in major stocks like TENCENT and BABA. Despite the downturn, CHINA TELECOM rose by 6%.

Hua Xia CSI New Energy Vehicles ETF

Hang Seng Index

LI AUTO-W

Hang Seng China Enterprises Index

MEITUAN

XIAOMI-W

LONGFOR GROUP

CHINA RES MIXC

XINYI SOLAR

GEELY AUTO

CHINA RES LAND

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JD HEALTH

LAOPU GOLD

SHK PPT

HANG LUNG PPT

CHINA OVERSEAS

SMIC

JD LOGISTICS

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ALI HEALTH

HENDERSON LAND

PEGBIO CO-B

51WORLD

RADIANCE HLDGS

QINGSONG HEALTH

HAICHANG HLDG

Li Auto

MEITUAN-WR

Meituan

Meituan HK SDR 5to1

Xiaomi Corporation

XIAOMI-WR

Xiaomi HK SDR 2to1

GEELY AUTO-R

GEELY AUTOMOBILE HOLDINGS LIMITED SPON ADS EACH REP 20 ORD

Geely Auto

JD HEALTH-R

Laopu Gld HK SDR 50to1

SHK PPT-R

SMIC HK SDR 5to1

HSI Down 287 pts; HSTI Down 96 pts; LI AUTO Down over 14%; Market Turnover Rises

CHINA TELECOM has launched trial commercial Token plans starting from RMB9.9 per month for individual customers and RMB39.9 for developers. The plans offer integrated services including Token, connectivity, and security, supporting various applications like AI programming and content creation. Additionally, the company will introduce Tianyi Token Coin for customer rewards and expand Token benefits through partnerships with AI ecosystem partners.

CHINA TELECOM Unrolls Commercial Token Plans with Monthly Fee Starting from RMB9.9

CHINA TELECOM(601728.SH)