The massive Chinese telecommunications equipment company ZTE is reportedly set to raise 13 billion yuan, or roughly $2.1 billion USD, for the next generation of wireless technology known as 5G — a move that could be critical for the race to full-scale implementation.
The company plans on investing a total of 42.9 billion yuan ($6.8 billion USD) over the next three years to make the prospect of the advanced technology an imminent sweeping reality, according to Reuters.
ZTE, along with domestic rival Huawei, appear to be vamping up their respective efforts to make their home country the first to a comprehensive 5G infrastructure, which will almost certainly trigger a natural wealth of benefits.
Once a distant thought, 5G is fast approaching as multiple countries around the world are racing for its development and ultimate application. (RELATED: All Five FCC Commissioners Have Come Out Against The Nationalization of 5G)
The quicker nations and companies operating within them are able to successfully lay out the groundwork and establish the infrastructure, the quicker they will be able to enjoy the massive economic assets and advantages. As of recently, there are many reasons supporting the idea that China is in good shape to cross the finish line first.
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