中国的电信投资成本趋势研究报告(Telecom in China Carrier Capex Trends)

I. INTRODUCTION AND KEY FINDINGS
　　1.1 Key Findings
　　1.2 Report Structure

II. CHINA'S TELECOM MARKET: AN OVERVIEW
　　2.1 Regulatory Environment
　　2.2 Incumbent Carrier Developments
　　2.3 China's Telecom User Market
　　2.4 Key Growth Drivers
　　2.5 Carrier Investment Trends
　　2.6 Growth for New Value-Added Services

III. CHINA'S INCUMBENT CARRIERS: STRATEGIC ANALYSIS
　　3.1 Market Overview
　　3.2 Technology Overview
　　3.3 Carrier Objectives, 2005-2008
　　3.4 Mobile Services
　　3.5 Emerging Carriers: China Railcom and China Satellite

IV. EMERGING NETWORK SERVICES
　　4.1 3G Wireless
　　　　China Telecom and China Netcom
　　　　China Mobile
　　　　China Unicom
　　4.2 The Future of PHS
　　4.3 Value-Added Telecom Services
　　　　Value-Added Mobile Services
　　　　Value-Added Internet Services
　　4.4 NGN Services
　　4.5 IPTV
　　4.6 Mobile Video Service
　　4.7 Digital Cluster

V. CAPEX ANALYSIS FOR CHINA'S INCUMBENT CARRIERS
　　5.1 China's Telecom Industry in 2005
　　5.2 Capex Forecasts for China's Incumbent Carriers
　　5.3 Capex Spending by Product Segment
　　5.4 Transmission Equipment Capex Trends
　　5.5 Fixed Network Capex Trends
　　5.6 Mobile Network Capex Trends
　　5.7 PHS Capex Trends

VI. CARRIER-BY-CARRIER ANALYSIS
　　6.1 China Telecom
　　　　Capex Investment Trends for China Telecom
　　6.2 China Mobile
　　　　Capex Investment Trends for China Mobile
　　6.3 China Netcom
　　　　Capex Investment Trends for China Netcom
　　6.4 China Unicom
　　　　Capex Investment Trends for China Unicom
　　6.5 China Railcom
　　　　Capex Investment Trends for China Railcom
APPENDIX A: LEGAL DISCLAIMER

LIST OF FIGURES
　　SECTION I
　　　　Figure 1.1 China's Telecom Services Revenue Growth
　　　　Figure 1.2 Fixed-Line Phone Subscribers in China
　　　　Figure 1.3 Mobile Phone Subscribers in China
　　　　Figure 1.4 Broadband Users in China
　　　　Figure 1.5 Fixed Asset Investment by China's Carriers
　　SECTION II
　　　　Figure 2.1 Telecom Service Revenue
　　　　Figure 2.2 Telecom Revenue by Service Type (2004)
　　　　Figure 2.3 Telecom Revenue by Carrier (2004)
　　　　Figure 2.4 Segmented Development of Phone Subscribers
　　　　Figure 2.5 New Phone Subscribers by Carrier (2004)
　　　　Figure 2.6 Investments by China's Top Four Carriers
　　　　Figure 2.7 Carrier Investment and Investment Growth Rate
　　SECTION III
　　　　Figure 3.1 Service/Investment Relationships – Fixed-Line Carriers
　　　　Figure 3.2 Service/Investment Relationships – China Unicom
　　　　Figure 3.3 Service/Investment Relationships – China Mobile
　　SECTION IV
　　　　Figure 4.1 3G Suppliers in 2004 Performance Trials
　　　　Figure 4.2 Mobile Value-Added Services Growth
　　　　Figure 4.3 Percentage of Mobile Revenues from Value-Added Services
　　　　Figure 4.4 Internet Subscriber Growth
　　SECTION V
　　　　Figure 5.1 Assets/Liabilities Ratios for Incumbent Carriers (2004)
　　　　Figure 5.2 Return on Assets for Incumbent Carriers (2004)
　　　　Figure 5.3 Revenue Growth for Incumbent Carriers (2004)
　　　　Figure 5.4 Carrier Investment and Investment Growth Rate
　　　　Figure 5.5 Capex by Product Line
　　　　Figure 5.6 Carriers' Investment Focus (2005)
　　　　Figure 5.7 Capex for Transmission Equipment, by Data Rate
　　　　Figure 5.8 Fixed-Line Subscribers
　　　　Figure 5.9 Mobile Subscriber Growth
　　　　Figure 5.10 PHS Subscriber Growth
　　　　Figure 5.11 PHS Network Capacity
　　SECTION VI
　　　　Figure 6.1 China Telecom Revenue by Market Segment
　　　　Figure 6.2 China Telecom Subscribers by Service Type
　　　　Figure 6.3 PHS Subscriber Growth for China Telecom
　　　　Figure 6.4 Broadband Subscriber Growth for China Telecom
　　　　Figure 6.5 China Telecom's Capex
　　　　Figure 6.6 Investment/Revenue Comparisons for China Telecom
　　　　Figure 6.7 China Telecom Capex Spending by Technology Type
　　　　Figure 6.8 Service Revenue for China Mobile, by Brand (2004)
　　　　Figure 6.9 China Mobile Subscribers by Product Brand (2004)
　　　　Figure 6.10 China Mobile Capex Totals
　　　　Figure 6.11 China Mobile Capex by Product Sector
　　　　Figure 6.12 Subscriber Growth for China Netcom
　　　　Figure 6.13 Distribution of Service Revenue for China Netcom (2004)
　　　　Figure 6.14 Capex Investment by China Netcom
　　　　Figure 6.15 China Netcom Capex Spending by Product Sector
　　　　Figure 6.16 China Unicom Mobile Subscribers
　　　　Figure 6.17 China Unicom's Service Revenues
　　　　Figure 6.18 China Unicom's Revenue Sources, by Service Type
　　　　Figure 6.19 China Unicom Revenue Breakouts (2004)
　　　　Figure 6.20 China Unicom Capex Spending by Category (2004)
　　　　Figure 6.21 China Unicom Capex Trends
　　　　Figure 6.22 Revenue and Subscriber Growth for China Railcom
　　　　Figure 6.23 China Railcom Capex Investment (2004)