China Telecom (00728,HK) plans to increase capital expenditures by five billion yuan in the second half of this year and by 10 billion yuan in 2011, reports Yicai.com, China Telecom chairman Wang Xiaochu. The increase in capital expenditures will go into developing the company's broadband business. Total 2010 capital expenditure will hit 44 billion yuan, while total planned 2011 capital expenditures is 50 billion yuan, according to Wang.

China Telecom targets 10 million new broadband users for both 2010 and 2011, up from the previous targets of nine million and eight million respectively.

According to Wang, the company targets 30 million new mobile users in 2010. As of the end of June, new mobile users totaled 18 million.