China Mobile to set up £3.4 billion 5G industry fund

HONG KONG (Reuters) - China's largest telecommunications operator China Mobile said on Tuesday it will set up a 30 billion yuan (£3.4 billion) 5G industry fund and has already raised the first instalment of 7-10 billion yuan.China Mobile Chairman Yang Jie made the announcement at a press conference in Shanghai, according to a transcript of his speech provided by the company. He did not specify a timeline for the fund. Yang also said China Mobile will invest 3 billion yuan into developing 5G..