ZhongJi InnoLight commits to invest in China's $143m 5G industry fund

Woman using gold iPhone 7. Photo: Unsplash

ZhongJi InnoLight, a Chinese company that develops intelligent equipment and optical communication devices, plans to invest 30 million yuan ($4 million) to jointly launch an industry fund to promote 5G development in China.

The new vehicle plans to raise a total of about 1 billion yuan ($143 million), with a government-led fund in southeastern China’s Zhejiang province and other state-owned assets committing 49 per cent of the targeted size. ZhongJi InnoLight, along with other limited partners, subscribed to 50 per cent in the fund.

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