China Unicom Gains Investment of CNY61.7 billion, Over a Half for 5G Use

Updated:2017/10/16 13:04

China Unicom announced on October 11 that the company's application for private issuing of A shares involved in the mixed ownership reform program was approved by the Issuance Examination Commission of China Securities Regulatory Commission.

According to the program, China Unicom intends to raise no more than 61.725 billion renminbi  in this private issuing, for 4G, 5G and innovation business, and 4G  will account for more than a half.

Wang Xiaochu, Chairman  of China Unicom said  in the Performance Release Conference ,  that investment in 5G, coexisting with 4G which replaces 3G, needs time and trails.

It is estimated that 5G will be launched in 2020, China Unicom doesn't have the scale  investment problems at present. He said, it will be two or three years before 5G communication matures , and now the company needs 4G expansion to bring revenue.

With the rapid development of mobile Internet business and mobile video services, the scale and proportion of 4G subscribers keep improving, and the consumption of mobile  data traffic grows tremendously. It is urgent for China Unicom to carry out promotion of sustaining expansion and ability of 4G network.

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