  The 5th generation (5G) new radio (NR) access technology and the beyond-5G
future wireless communication require extremely high data rate and spectrum
efficiency. Energy-efficient transmission/reception schemes are also regarded
as an important component. The polarization domain has attracted substantial
attention in this aspects. This paper is the first to propose
\textit{multi-polarization superposition beamforming (MPS-Beamforming)} with
cross-polarization discrimination (XPD) and cross-polarization ratio
(XPR)-aware transmit power allocation utilizing the 5G NR antenna panel
structure. The appropriate orthogonal frequency division multiplexing (OFDM)
subcarrier assignment algorithm is also proposed to verify the theoretical
schemes via simulations. The detailed theoretical derivation along with
comprehensive simulation results illustrate that the proposed novel scheme of
MPS-Beamforming is significantly beneficial to the improvement of the
performance in terms of the symbol error rate (SER) and signal-to-noise ratio
(SNR) gain at the user equipment (UE). For instance, a provided practical
wireless channel environment in the simulations exhibits 8 dB SNR gain for
$10^{-4}$ SER in a deterministic channel, and 4 dB SNR gain for $10^{-5}$ SER
in abundant statistical channel realizations.
