Got a good idea for how to make smart use of 5G? Shenzhen is the place for you, where you can apply for a special “5G loan” from the Bank of China.
Backed by Shenzhen High-tech Investment, a loan guarantee company, the bank is reportedly offering up to RMB10 million in credit to small and micro enterprises (SMEs). The money will not be free, of course. It will be offered at the discounted interest rate of 4.35%.
There is already a long list of companies that would qualify for the credit lines. On the upstream, they include mobile communication infrastructure, including network planning, base station construction, transmission network, bearer network and core network construction, etc., system base station provider, base station antenna provider, small micro base station, optical module, fiber optic cable. On the downstream would be: terminals and application scenarios, including automobiles, smart appliances, VR/AR, enhanced mobile broadband, industrial Internet, telemedicine.
As the article points out, most of these 5G upstream and downstream enterprises have “high demand for liquidity”. These “5G loans” will greatly alleviate their cashflow challenges.
Read more in Chinese.