(File Photo)

The Changsha Municipal People's Government and the China Mobile Limited (China Mobile) recently signed a strategic cooperation framework agreement. They will promote Hebao, a NFC-based mobile payment system that functions as a digital wallet targeting personal and institutional clients. The partnership aims to build Changsha into a mobile payment city.

Hu Henghua, CPC Hunan Provincial Committee Standing Committee member and CPC Changsha Municipal Committee secretary, met with China Mobile CEO Li Yue. They witnessed the signing ceremony. 

Under the agreement, the two sides will actively build a close strategic partnership. Taking the goal of building a mobile payment city as the core, they will strengthen cooperation and achieve a win-win situation in mobile payment; 5G R&D; smart city and communication infrastructure construction; and, investment and financing.

The Changsha government and China Mobile will carry out pragmatic cooperation while integrating financial and technology industries with upstream and downstream e-commerce industry chain. To be a mobile payment demonstration city, Changsha will strive to make Hebao one of the top three payment systems in China within three years.

China Mobile will promote the Internet of Vehicles (IoV) business in Changsha, and establish a 5G laboratory, so as to build Changsha into a key demonstration region for 5G R&D. The two sides will strengthen cooperation in the fields of wireless networks, optical cables, 4K TVs, and jointly promote the construction of "5G Changsha", "Optical Cable Changsha" and "Digital Changsha".

The two sides will also give full play to the guiding role of funds and venture capital investment institutions, to attract high-quality industrial projects and promote a favorable industrial development environment.

Source: enghunan.gov.cn