China Telecom establishes quantum technology group

China Mobile

31/05/2023 05:23

By Casey Hall
       SHANGHAI, May 31 (Reuters) - China Telecom  0728.HK  has
invested 3 billion yuan ($434 million) to establish the China
Telecom Quantum Information Technology Group Co., it said in a
statement on its official WeChat account Tuesday.
    The new entity, to be based in the eastern Chinese province
of Anhui, will focus on developing quantum technology, stepping
up the pace of quantum product updates and promoting the
industry nationwide, the statement said.
    The investment marks the latest move by a Chinese
telecommunications giant to try to tap into quantum technology
and reflects Beijing's ambition to pull ahead in the global race
to harness the power of quantum computing.
    " This  is a practical action to thoroughly study and
implement the spirit of General Secretary Xi Jinping's important
instructions on the development of quantum technology," China
Telecom said in its statement.
    Governments and companies around the world for years have
touted the potential of quantum computing - a form of very
high-speed calculation using sub-atomic particles at
extraordinarily cold temperatures - to help solve complex
statistical problems.
    China Telecom's move comes after China Mobile, the world's
largest telecom carrier with 900 million mobile subscribers,
last December signed a deal with Chinese startup Origin Quantum
looking to use quantum computing to overcome computational
bottlenecks facing 5G and 6G technologies.
    Current real-world applications in quantum computing are
still very basic and limited to a small group of clients.
    Global governments and companies will invest around $16.4
billion in quantum development by the end of 2027, according to
market researcher IDC.
  
($1 = 6.9121 Chinese yuan)

 (Reporting by Casey Hall; Editing by Sonali Paul)
 ((Casey.Hall@thomsonreuters.com))