China Unicom has signed a $1.5 billion contract with the Chongqing Municipal Government to turn the city into the world center for NFC technology, according to The Register.
China Unicom, the country’s second largest network operator, will provide the $1.5 billion, while the Chongqing government will initiate a series of tax breaks and incentives to lure NFC developers over.
According to Cellular News, a good chunk of the money will be invested in boosting the WCDMA network in Chonqing.
If the NFC center draws the amount of commerce China Unicom hopes for, the company expects see revenues upwards of $7 billion a year by 2015.
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