Four major Chinese telecom companies plan to spend 197.3 billion yuan (about 27.8 billion US dollars) on 5G telecommunications technology in the year 2020, as the country seeks to deploy "brown" projects New infrastructure ”to mitigate the economic impact of the new Coruna virus outbreak.
The China Securities newspaper reported in a report that China Mobile, a leading telecom operator, plans to invest about 100 billion yuan on 5G technology-related projects this year, at a rate four times the relevant size recorded in the past year 2019, while the company has allocated China Unicom 35 billion yuan to invest in 5G communications.
In turn, China Telecom will invest 45.3 billion yuan in fifth generation telecommunications this year, while China Tower will inject about 17 billion yuan in the said sector.
China gave the green light for commercial use of high-speed wireless technology in June of last year, marking a significant increase in consumer enthusiasm and an acceleration in industrial investment.
The huge investment comes as the Chinese government pledges to accelerate construction for new infrastructure facilities such as 5G networks and data centers to counter downward pressure on the economy.
On Tuesday, the Ministry of Industry and Information Technology said it would support telecom operators to expand the coverage and capacity of 5G networks.
