By Yifan Wang
Chinese telecom-equipment makers including ZTE Corp. jumped on Thursday after a top Beijing official said the country should accelerate the construction of digital infrastructure.
In the A-share market, radio-frequency components supplier Wuhan Fingu Electronic Technology Co. /zigman2/quotes/203593567/delayed CN:002194 +1.93% hit the daily limit with a 10% surge, while optical-fiber and optical-cable manufacturer Hengtong Optic Electric Co. /zigman2/quotes/209369041/delayed CN:600487 +4.23% jumped 4.7%.
The sector’s sharp upturn came after state media reported that Xiao Yaqing, head of China’s Ministry of Industry and Information Technology, made comments at an industry conference encouraging companies to speed up the building of digital infrastructure, including 5G base stations and fiber-optic networks.
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