China Telecom says 2017 capex 89 bln yuan, down 8 pct

HONG KONG, March 21 (Reuters) - Chinese state-owned

telecommunications network operator China Telecom Corp Ltd

said on Tuesday it had earmarked 89 billion yuan

($12.90 billion) for capital spending this year, down 8 percent

from 2016.

China Telecom Chairman and Chief Executive Yang Jie was

speaking after the company reported net profit that fell 10.2

percent last year due to a higher base of comparison, and said

subscribers to its 4G mobile network doubled.

($1 = 6.8969 Chinese yuan)

(Reporting By Sijia Jiang; Writing by Anne Marie Roantree;

Editing by Subhranshu Sahu)