AsiaInfo Holdings (ticker: ASIA) a provider of software and networking solutions in China, announced quarterly earnings today. The company had this to say about telecom spending in 2005 and the issuance of 3G licenses:
On telecom spending in 2004:
....in 2004, we continued to face challenges in our core Telecom business. The Chinese telecom industry was again in restructure mode during the year which combined with the Chinese government's ongoing efforts to control economic over-reaching contributed to uncertainty and cautious spending by our Telecom customers.
On the outlook for 2005:
....the telecom industry will be in restructure mode again in 2005 with spending at largely the same level as 2004.
On the prospect of issuance of 3G licenses:
....their MRI gave an indication they were considering the issue of 3G in this year.
(Quotes from the CCBN StreetEvents transcript.)