EU, China sign 5G partnership

BRUSSELS

China and the EU have signed a partnership deal to develop 5G networks, which could be in place by the end of this year.

Under the agreement, China and the EU will implement joint research projects in the area of 5G; EU telecommunication companies will have easier access to the Chinese market, including its publicly funded 5G research.

The ‘fifth generation’ of telecommunications systems, or 5G, will be much faster than the current 4G network; by 2020 there will be more than 30 times as much mobile Internet traffic as there was in 2010 according to the European Commission.

"5G will be the backbone of our digital economies and societies worldwide. This is why we strongly support and seek a global consensus and cooperation on 5G," Gunther Oettinger, European Commissioner in charge of the Digital Economy and Society said on Monday.

"With today's signature with China, the EU has now teamed up with the most important Asian partners in a global race to make 5G a reality by 2020. It's a crucial step in making 5G a success," he added.

However, European Commission Vice-President Jyrki Katainen urged China to be more transparent in terms of its financial activities and policies.

Speaking during a joint press conference with Chinese Premier Li Keqiang after a high-level EU-China economic and trade dialogue, Katainen said:

"There are millions of people who are assessing one specific country's moves in the international markets, so the reaction can be quite unintended if there are misunderstandings or lack of information [as to] why some particular moves have been done."

His comments come months after Beijing, in response to a stock market collapse, implemented policy changes, including the investigating of reporters for spreading rumors, as part of an intervention against panic in the stock market.