Out-Law News | 28 Aug 2019 | 11:51 am | 1 min. read
Entrepreneurs from China, Japan and the Republic of Korea (ROK) have met to discuss how 5G mobile network can benefit small and medium-sized companies and boost co-operation between the three countries.
The first China-Japan-ROK entrepreneur summit took place in Changchun as part of the China-Northeast Asia expo last week, and it focused on 5G.
Xinhua net said that speakers highlighted the importance of 5G to other industries, the present and future of Japan's smart industry and Sino-ROK cooperation on information and communications technology.
Earlier this month, China launched an industry alliance to promote the development of 5G technology in the Guangdong-Hong Kong-Macao Greater Bay Area.
Last week China Telecom said it was ready to build a 5G mobile network with it rivals to cut costs, which might well reduce " multi-billion dollar equipment orders for vendors such as Huawei Technologies", according to Reuters.
TMT expert Paul Haswell of Pinsent Masons, the law firm behind Out-Law, said: "The market for 5G technology is one that is of key importance to Chinese telecoms companies, most notably Huawei, but also one that has created a lot of tension between China and the US. However it’s also an area for investment and growth for smaller companies keen to embrace the opportunity that the bandwidth and speed of 5G presents. "
"Cooperation between Asian nations on 5G rollout is key for China, as they find the US and European markets increasingly challenging. Successful cooperation is not only beneficial for the nations involved, but is especially important for China as it seeks to prove that its 5G deliverables are as reliable as they are cost effective.” he said.
Deputy secretary-general of the Trilateral Cooperation Secretariat Han Mei said that 2019 marked the 20th anniversary of trilateral cooperation and "the space is still vast for ongoing and close collaboration among the three countries".
The Trilateral Cooperation Secretariat (TCS) is an international organisation that established for promoting peace and common prosperity among the People’s Republic of China, Japan, and the Republic of Korea.
The trend of application of 5G is growing faster and 5G has already been used in a wider range industries. This August, the Xinhua net said the 141-kilometer Guangzhou-Shenzhen-Hong Kong express rail link will become the first high-speed railway in China to have full 5G network coverage along its entire line.