China's Telecom Giants Step up Efforts Hastens 5G Rollout Amid Virus Heat

March 20, 2020 2:25 am

Beijing (PingWest)—China Mobile, the nation's largest telecom carrier, said on Thursday that it will invest 100 billion yuan ($14.2 billion) into 5G network construction this year.

Chinese technology companies are responding to a call from the central government to accelerate efforts to build new telecommunications and IT infrastructure.

The three major telecom operators China Mobile, China Unicom and China Telecom have launched the second phase of the 5G purchase plan, which is part of their joint efforts to build at least 550,000 5G base stations this year.

The loss caused by the novel coronavirus to China ’s consumption sector from January to February will reach 1.38 trillion yuan, accounting for 1.2% of the annual GDP, Zhu Min, Dean of the National Institute of Finance of Tsinghua University, predicted.

Zhu said that the Chinese government has taken great efforts to restore the economy. China authorities are pushing forward the development of infrastructure construction projects represented by 5G, UHV, intercity high-speed rail, new energy, big data, artificial intelligence, and the industrial Internet.