THE European Union (EU) yesterday announced that it has signed a key agreement with China on 5G networks, saying both sides are ready to enhance cooperation on research funding and facilitating market access.

    “Both parties are committed to reciprocity and openness in terms of access to 5G networks research funding, market access as well as in membership of Chinese and EU 5G associations,” EU said in a press release.

    Signed at yesterday’s EU-China high level economic and trade dialogue in Beijing, the agreement was described by the bloc as a “milestone” in the global race to develop 5G networks.(Xinhua)