According to Wang Ning, Vice Mayor of the Beijing Municipality, the Chinese capital has set up a special team for the 5G Project to focus on the coordination and promotion of the related work. In June this year, the Beijing Science and Technology Innovation Fund was launched, with a FOF worth as much as 30 billion yuan.
In addition to that, the planning of the 5G Industry Fund is also now underway. Moreover, Beijing is also planning to establish a 5G Technology Research Institute to accelerate the development of the key core technologies and accelerate the applications of 5G technologies in smart transportation, smart cities, and ultra-high definition video.