MNI BRIEF: China Policy Advisor Warns On 5G Profits Outlook

China has erected over 500,000 5G stations across the country but some telecom carriers have started to dismantle some as they are losing money on a venture that is still missing a viable business model, Wang Yiming, a former vice president of Development Research Center under State Council, said Wednesday.

The carriers, all state-owned, are locked in competition for market share but are still trying to incorporate a viable 5G operation as the next-gen networks are still lacking applications, Wang, now a vice chairman of China Center for International Economic Exchanges, told at a virtual conference.

And despite a lack of take-up, carriers need to raise large sums to finance investment while still facing stringent requirements from central government who are monitoring debt levels, Wang added.