ZTE planned to invest in building research institute in Guangzhou with a total investment not less than CNY 5.6 billion, inking cooperative agreement with local government. The research institute will act as headquarters, R&D center and marketing center for south China, focusing on 5G technology, communication, independent intellectual property right chips, smart city, cloud service, big data and new energy. Total investment will be put within five years, including CNY 3.5 billion for research and development and not less than CNY 2.1 billion for project construction, to be completed by 2021.
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