On 6 Jun, MIIT officially released 5G license for commercial use in China. China Telecom, China Unicom, and China Mobile plans to invest about RMB9bn, RMB6.0-8.0bn, and no more than RMB17.2bn in 5G in 2019, respectively. Given the more complex use environment of 5G, we expect the larger investment scale of 5G in the following years.
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