China and the EU have signed an agreement to cooperate on the development and promotion of 5G technologies. Under the terms of the pact, both parties have agreed to reciprocity with regard to access to 5G research funding, market access and membership of 5G associations. The partnership will see the EU and China cooperate on promoting standardisation and identifying the spectrum requirements for 5G services. Further, the two parties intend to work towards reaching a global consensus on the key technologies, functionalities and time frame for 5G by the end of 2015.
A statement from the European Commission (EC) noted that China would be a major player in the development of 5G technologies and would potentially be the world’s largest market for 5G products and services, adding: ‘Under this agreement, EU companies… are likely to have easier access to the Chinese market. In particular, European companies will be able to access and participate in China’s publicly funded 5G research, development and innovation initiatives on the same terms as Chinese companies currently participate in the EU’s 5G activities.’