10,000+ km QKD fiber network — 145 nodes, 17 provinces, 80 cities Zuchongzhi-3 — 105 qubits, 10¹⁵× faster than classical supercomputers Tianyan-504 — 504-qubit Xiaohong chip, China's domestic qubit record Jinan-1 — 12,900km satellite QKD, quantum-encrypted 5G calls (March 2025) CIQTEK — STAR Market IPO at ¥11.7B, diamond NV quantum sensing China's model is structurally different: state telcos (China Telecom, China Mobile) operate quantum cloud as national infrastructure, not