“Effective competition brings economic growth to an economy, while in telecommunications, competition starts with liberalization.” Until 2011, both Macau’s mobile and internet market were liberalized, with CTM only monopolized in fixed line market providing all fixed line services. Fixed line services include not only local and international fixed line telephony services, but also leased lines, transit, telex and telegram services, etc. that are provided through a fixed line. From 2012, the Macau Government liberalized the fixed line market with a new fixed license granted to Mtel in 2013, another fixed operator in addition to CTM. Mtel is expected to be in service in late 2014 with the right to provide fixed line services including only leased lines, data centre and transit services, but not fixed telephony and IDD services. As mobile and internet operators rely on leased lines for overseas connectivity, the introduction of one more fixed operator may reduce operators’ operating costs which will indirectly benefit the end users. Hence, how well this current round of full liberalization will increase customer satisfaction especially on data service is the objective of this study. And the resulting social and economic impacts after liberalization are indeed the rationale behind this study. To start with, the overall perception on existing data services, optimism to II and expectations on full telecom market liberalization and suggestions on an effectively competitive telecom market are investigated through a survey conducted with questionnaires and focus group discussions. With the data collected, the major areas of satisfaction and expectation are identified, with correlation of current perception and future expectations are studied in the next stage, where demographics like customer’s age, gender and educational level etc. are taken into account under research. From the empirical results, it concludes that irrespective of the current satisfaction level or recognition of full market liberalization, people in general are optimistic about and have same or similar expectations on full telecom liberalization. These expectations are consistent with the benefits that will be brought about by telecom liberalization under economic theory. Hence, customer satisfaction will then be increased along liberalization with these expectations being met. Yet, Government intervention is expected in order to facilitate an effectively competitive market under full liberalization to ensure sustainable market development in the long run