China’s Minister of Industry and Information Technology spokesperson Miao Wei said the government will continue with tax and fee reductions in 2020 to support growth. Focus will be on manufacturing sector, with increase in research and development investments.
Miao said “looking forward to 2020, industrial development faces many difficulties and risks,” and “pressure on stabilizing industrial growth is still big.” But the government will be able to “ensure the smooth operation of the industrial economy” with the above efforts.
On 5G technology, Miao said more than 130,000 base stations were built by the end of last year. 35 mobile phone terminals received network access licenses. More than 13.77m 5G phones were made. These phones are expected to cost less than CNY 1500 in Q4.
