By Greg Gao

(JW Insights) Apr 17 -- China Mobile(中国移动), the country’s largest wireless network operator, has overtaken the most revered of Chinese liquor maker Kweichow Moutai(贵州茅台) in market capitalisation as the country’s most valuable company on April 17 morning, reported China Daily.

The traders are betting the mobile-network operator will tap new revenue sources amid China’s plan to digitize the economy.

On the morning of April 17, China Mobile’s shares soared by more than 4 percent at its highest, with a market value of RMB2.2 trillion($319.9 billion), exceeding that of Kweichow Moutai, said China Daily’s report.

As China’s largest telecommunications company, China Mobile commands slightly more than 60% of the domestic mobile phone market. The company also boasts the largest number of subscribers in the world.

The recent rally of its stock boosts its market cap ranking, thanks to a recent trading frenzy driven by artificial intelligence bets and the government’s 6G ambitions, according to Bloomberg’s previous reports.