Hong Kong raises fund for 5G deployment

The funding was raised to $100m from $50m.

The Hong Kong government raised the funding earmarked for the Subsidy Scheme for Encouraging Early Deployment of 5G to $100 million from $50 million.

The increase, made under the Anti-epidemic Fund, was intended to further encourage the public and private sectors to deploy 5G technology.

"With its edge of high speed, low latency, high capacity, and massive connectivity, 5G provides enormous potential for developing different business services and smart city applications, including smart homes, e-commerce, remote surgery operation, autonomous driving, and is set to bring revolutionary changes to our future lives," Secretary for Commerce and Economic Development Edward Yau said.

According to the Office of the Communications Authority, the additional funding will likely accommodate 100 more projects. It also extended the application period until 31 July 2022.

The Scheme grants a 50% subsidy, covering the costs relevant to the deployment of 5G technology in a project, subject to a cap of $500,000.

Since its launch in May 2020, the Government has received an enthusiastic response and has approved 103 applications, covering innovative applications in various aspects and sectors such as remote mechanical maintenance and remote telemedicine application amongst others.

"Within a year since its launch last April, 5G services in Hong Kong now cover more than 90% of the territories and up to 99% of some core business districts. The good progress has laid a solid foundation for its extensive application,” Yau said.

“The government will continue its efforts in promoting 5G development, which includes supplying spectrum to the market in a timely manner, facilitating installation of base stations, and promoting its application and popularization,” he added.