China Mobile aims for network buildup from Shanghai listing

China Mobile said funds raised from its listing in the A-share market will be used in a series of projects including 5G boutique network rollout, artificial intelligence, cloud computing and next-generation mobile communication technologies such as 6G, involving a total of 56 billion yuan (US$8.71 billion), state media reports.

According to a statement Monday, 28 billion yuan will be used in 5G boutique network construction projects, 10 billion yuan in the research and development of next-generation telecom technology and digital intelligence ecosystem construction projects, focusing on key areas such as AI, the Internet of Things, cloud computing and other key areas to carry out technological research, and conduct forward-looking research on next-generation mobile technologies such as 6G.

China Mobile will hold a meeting for shareholders in Hong Kong on June 9 to seek approval for the proposal.