Beijing to launch new RMB 5 billion 5G investment fund
May 31, 2019 (China Knowledge) - Beijing’s municipal government has launched a RMB 5 billion fund for high-tech companies with leading 5G wireless technologies while also setting up a 5G research institute.
The fund formed by state-backed investment and financing platform Beijing E-Town International Investment and Development, Beijing Science and Technology Innovation Investment Management and China Jianyin Investment is the first 5G fund the Beijing government has invested in.
Beijing is already a pilot city for 5G construction and application with more than 200 experimental 5G base stations in the Beijing Economic and Technological Development Area. Currently, 50 of these base stations have started operations and another 200 more stations are expected to be operational by the end of this year, providing full 5G coverage in a 60 square kilometer radius.
Apart from this, the city will also set up a new 5G research center dedicated towards developing upstream chips, radio frequency devices and innovative applications under various 5G scenarios such as artificial intelligence, the industrial internet and advanced medical care.
5G technology which has the ability to deliver new levels of performance and efficiency that will unlock new user experiences and connect new industries has become a key area of focus for China recently, aiming to become a global leader in this new cutting edge-technology.
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