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Chinese state telecom bosses emboldened by recent stock rally

Xi's digitalization push boosts sentiment, though still far below peak

China Mobile shares have risen 34.6% in Hong Kong since the end of October to March 23.   © Reuters

HONG KONG -- The heads of China's three state telecom companies have voiced confidence in the outlook for the industry and called attention to their rising share prices as President Xi Jinping looks to quicken the shift to a digital economy.

"A revaluation is in play," Yang Jie, chairman of China Mobile, the largest telecom carrier in the world by mobile subscribers, told reporters Thursday during the company's first in-person annual earnings conference since the start of the COVID-19 pandemic.

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