In order to stimulate consumption, Shenzhen has decided to give a maximum subsidy of 1,000 yuan (USD 142) to each consumer who buys a 5G phone.
The Shenzhen government has recently introduced measures in order to promote consumption, proposing 20 specific measures, which will be implemented from June 28, 2020 to December 31, 2022.
Shenzhen will join hands with manufacturers and sales companies to implement "trade-in" and smart product subsidy programs for home appliances, encouraging companies to issue coupons for consumers' new purchases of smart digital products such as laptops, tablets, 5G phones, 4K and 8K TVs.
The subsidy amount is 10 percent of the actual purchase price, with each resident receiving a maximum of 1,000 yuan.
As of early July this year, Shenzhen has built 43,600 5G base stations and is about to complete its target of 45,000 5G base stations.
