(Yicai Global) June 3 -- China's Ministry of Industry and Information Technology, which oversees the country's telecoms sector, will soon issue the nation's first commercial license for fifth-generation mobile services.

China is all set for commercial 5G services, with domestic firms having contributed more than 30 percent of the patents for the new superfast technology, Xinhua News Agency reported today.

In the process of 5G network construction in China, foreign companies such as Finland's Nokia, Sweden's Ericsson and the US' Qualcomm and Intel have also done their part, the report added.

Editor: Ben Armour