Beijing to invest USD 4.4 billion to build 5G network by 2022

Beijing's telecom operators will invest over 30 billion yuan (approximately USD 4.4 billion) to build 5G network in the city by 2022, according to a 5G development plan.

The 5G network will cover the city's core zone, which is often defined as areas within the Second Ring Road, its sub-centre in Tongzhou district, and areas and venues that serve important functions.

The technology will also be applied in major city infrastructure such as the new airport and during important events such as the Winter Olympics in 2022, according to the 2019-2022 plan published by Beijing Municipal Bureau of Economy and Information Technology on Tuesday.

The city, home to many of the country's top tech companies, plans to develop its 5G-related industry to achieve 200 billion yuan of revenue by 2022, according to the plan, state-run Xinhua news agency reported on Wednesday.

"Obtaining breakthroughs on developing core components for the 5G network and putting them into industrial use is the primary task for developing the 5G industry in the city," the plan stated.

Beijing will set up product innovation centres, special projects and manufacturing bases in the coming years for developing the key components including radio frequency parts and chips.

The city aims at having the tech companies reaching a 10 per cent share in the global 5G component market, the plan stated.