East China's Jiangsu province will accelerate its investment in new infrastructure projects in 2020, a move aimed at expanding information consumption and supporting the development of 5G networks, local authorities said in a press conference on April 15. 

China’s demand for lithium iron phosphate (LFP) batteries in energy storage is expected to soar 87% in 2020, as Beijing ramps up 5G network construction in a bid to offset the economic fallout from the COVID-19 pandemic and shore up its economy in the long term.

Eighteen provinces in China including Shandong and Anhui have rolled out plans to construct a total of more than 413,000 5G base stations this year, as China speeds up the investment in new infrastructure to bolster consumption amid the impact of coronavirus outbreak.

This is in response to the central government’s call to build "new infrastructure" projects to counter the economic fallout due to the coronavirus and boost the country's economy in the long term. New infrastructure, different from traditional infrastructure construction such as railways, roads, and airports, can be understood as new public facilities serving the needs of new industrialisation. 

No more than 100 million yuan of subsidy will be granted each year

An EV consumes about 55 kg of copper on average, two to three times of that for traditional diesel or gasoline vehicles

The province has established 8,949 base stations by the end of Jun

Stocks of 5G-related companies jumped after the news release on the website of MIIT

It will drive digital economic output by 15.2 trillion yuan