5G to generate over 810 bln yuan of economic output for China in 2020

Added On December 21, 2020

 A white paper says 5G is expected to generate 810.9 billion yuan, or about 124.15 billion U.S. dollars, of direct economic output in 2020.

According to the white paper from the China Academy of Information and Communications Technology, China has established more than 700,000 5G base stations since the country greenlighted the commercial use of 5G in 2019.
The 5G network features faster connection speeds, wider broadband and lower latency. It's regarded as the "infrastructure" for a variety of next-generation digital technologies, including artificial intelligence, virtual and augmented reality and driverless vehicles.
The white paper said despite the achievements, China's 5G network has not yet achieved nationwide coverage and its supporting industries are still in infancy.
It said the 5G industry will enter a critical development period over the next two to three years.