By Chris Donkin

China Mobile unveils 5G target, $4.4B investment plan

China Mobile announced it would rollout commercial 5G services in 50 cities by the end of the year and set-up a CNY30 billion ($4.4 billion) industry fund, as it detailed its strategy for the new network technology.

According to Xinhua, reporting from a Shanghai press conference, China Mobile will build 50,000 5G base stations in the country before the end of 2019 to support its ambitious rollout plan.

In addition to major investment to deploy the network itself, Reuters reported the operator will also set up a CNY30 billion “industry fund” with more than CNY7 billion of the cash already in place.

At the event, China Mobile chairman Yang Jie also unveiled plans to spend CNY3 billion on developing 5G content including high definition videos and games.

The update was made on the eve of MWC Shanghai, where many of the largest companies operating in China and elsewhere in Asia are tipped to provide updates on 5G rollouts and progress.

Earlier this month, Chinese authorities issued licences for the new network technology, with China Mobile subsequently announcing it signed network contracts with Huawei, Nokia, Ericsson and ZTE for rollout.