China Mobile to Set Up USD4 billion 5G Industry Fund

BChina’s largest telecommunications operator China Mobile said on Tuesday it will set up a CNY 30 billion (USD4.36 billion) 5G industry fund and has already raised the first installment of 7-10 billion yuan.

The announcement was made by China Mobile Chairman Yang Jie at a press conference in Shanghai.

In 2019, China Mobile plans to build more than 50,000 5G base stations in China and provide 5G services in more than 50 cities, Yang said.

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