Chengdu eager to develop 5G industry

( chinadaily.com.cn )

Updated: 2019-02-03

To encourage the healthy development of the 5G industry, Chengdu in Southwest China's Sichuan province recently launched 18 preferential policies that will provide up to 200 million yuan ($30 million) in support for universities and companies.

According to the new policies, companies/institutions who encourage innovation and entrepreneurship, such as 5G incubators and university science parks, will be eligible to receive a one-time subsidy of 1 million yuan.

Newly-built municipal-level 5G creation spaces, incubators and accelerators can receive subsidies of 300,000 yuan, 500,000 yuan and 1 million yuan, respectively. Drivers of innovation and entrepreneurship that have rebuilt or expanded to take advantage of untapped resources can receive a subsidy of up to 5 million yuan.

The policies also encourage companies to research and develop key components for 5G equipment. Companies that exceed 50 million yuan in sales for the first time can receive a one-time reward of 5 million yuan.

A 5G industrial fund of no less than 5 billion yuan will be established by Chengdu to support the development of elite 5G companies.