China’s largest telecommunications operator China Mobile have been putting things in place to set up a $4.4bn (30 billion yuan) 5G industry fund.
It was also revealed but China Mobile Chairman Yang Jie that the company has already raised the first instalment of $1-1.4bn (7-10 billion yuan), at a press conference in Shanghai.
China Mobile’s Chairman also said that the company will be investing around $435,9m (3 billion yuan) into developing 5G content such as ultra-high definition videos and games.
Data Economy reached out to China Mobile for more detailed information about the 5G industry fund, to which the company is yet to provide a comment.
In May, Xinhua News Agency reported that China Mobile connected the first 5G phone and video call in Hong Kong, which was made by Li Feng, Chairman of China Mobile Hong Kong.
Last year July, China Mobile broke grounds on a new data centre development located in Singapore as the telco expands its infrastructure portfolio to help cope with regional demand and a surge in business ignited by Beijing’s “One Belt One Road” initiative.
The facility sits in the Singapore Dacheng Industrial Park, and has a gross area of 7,330 sqm and a construction area of 15,174 sqm, with a total number of 2,100 racks.
China Mobile recorded its operating revenue of $107bn (736.8 billion yuan) for the 2018 financial year, up by 1.8% compared to 2017.
China is anticipated to invest over $150bn in its 5G networks through 2025, according to Xinhua News Agency, citing a note from Goldman Sachs, revealing that around three quarters of the figure will be dedicated to 5G wireless systems.