Beijing Sets Up USD724 Million 5G Fund
Xu Wei
DATE:  May 30 2019
/ SOURCE:  yicai

(Yicai Global) May 30 -- Beijing's municipal government has launched a CNY5 billion (USD724.2 million) fund for high-tech companies with leading fifth-generation wireless technologies.

Beijing E-town International Investment & Development, a financing platform of government-funded Beijing Economic-Technological Development Area, and two other firms set up the special fund, Xinhua News Agency reported today.

China is set to become the world's biggest 5G market, with 460 million users by 2025, according to a March report by the Global System for Mobile Communications Association. The superfast technology presents a lucrative opportunity for Chinese developers and could bring significant competitive advantages to the economy.

Editor: Emmi Laine

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