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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.

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