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Economy

China's telecom carriers to invest $43bn for 5G network

2020 target eyed for nationwide next-gen mobile communications services

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Boasting more than 1.3 billion subscribers, China is the world's biggest mobile phone market.   © Reuters

BEIJING -- Major Chinese telecom service providers are prepared to spend roughly 300 billion yuan ($43.6 billion) by 2020 to achieve nationwide fifth-generation mobile communications coverage, boosting the chances of Chinese technology and services becoming de facto global standards.

The 5G technology will bring much faster data speeds than those offered by the 4G standard, and this telecommunications protocol also will be the first developed with the internet of things in mind. Hundreds of billions of devices are expected to exchange data as the internet of things takes hold, and mobile networks likely will serve as a key conduit.

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