(Yicai Global) Aug. 18 -- State-backed network operator China Telecommunications, better known as China Telecom, had its shares rise 5.17 percent to CNY2.850 (41 US cents) as its first half year profit increased by 0.3 percent to CNY13.95 billion (USD2.02 billion)

The firm’s revenue was CNY193.8 billion in the same period in a 1.7 percent increase on the year, according to its statement released today.

The number of China Telecom’s fifth-generation wireless network users has now reached 378.4 million.

Editor: Ben Armour