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Telecom carriers to pour 100b yuan in Zhejiang

By Li Weitao (chinadaily.com.cn)
Updated: 2009-03-08 11:52

China's top three telecom carriers have agreed to invest nearly 100 billion yuan in the coming five years in east China's Zhejiang province.

China Mobile said it plans to invest 50 billion yuan in Zhejiang in the coming five years which will create 100,000 jobs.

China Unicom will invest 20 billion yuan in the same period, mainly expanding its mobile phone networks, the company said in a statement.

China Telecom said it will invest 20 billion to 30 billion in five years in Zhejiang.

China Mobile also said it will also launch a procurement center in Zhejiang's Yiwu, known as the largest business center of small commodities in Asia. China Mobile will procure goods worth more than 10 billion yuan in Zhejiang in two years, it said.