Foreign equipment makers reap rewards in Chinese market

European telecom equipment makers Ericsson and Nokia are winning key 5G contracts in China, a move that analysts said showcases the country's open attitude to all international players when rolling out the superfast technology.

The news came after China Mobile, the world's largest telecom operator by mobile subscribers, announced it has awarded its first round of 5G network equipment contracts in 2019, which are worth around $2 billion.

China Mobile procured 153 units of MME (mobility management entity) telecom equipment from Sweden company Ericsson, which accounts for 34 percent of the company's procurements. Nokia provided 56 units, accounting for 12 percent.