At present, China has begun to enter the 5G era, and officially issued 5G licenses on June 6, 2019, marking that China has entered the first year of commercial 5G. With the rapid development of 5G commercial construction, giants in various segments of the communications industry have accelerated the investment intensity and pace of the 5G industry. On this basis, the growth of market size will also provide opportunities for investment in M & A. Looking at the performance of the M & A market in the communications industry in recent years, we expect that in the subdivided areas, communications equipment suppliers will remain the hotspots of investment in the communications industry. In addition, new technologies such as traffic demand and AI, while driving the continued rapid growth of the market size of IDC and cloud computing and IoT segments, will also attract more investors to enter and further increase the activity of M & A transactions.