(Yicai Global) Feb. 21 -- Speed Wireless Technology plans to take advantage of local support and resources to invest CNY1 billion (USD149 million) building a fifth-generation technology industrial headquarters in the southern Chinese city of Guangzhou to enhance its position in the 5G arena.

Speed Wireless, which supplies mobile smart terminal components, has drafted plans and signed an agreement with the authorities in the city's Huangpu district and the local economic and tech development zone, the Huizhou-based company said in a statement today. The new base will produce a range of 5G telecoms components.

Setting up its 5G headquarters in this location, which boasts many well-known universities and experts in research and development, will help the company improve its R&D and design capabilities and boost the value-added of its products, the statement said.