The “China 5G Economic Report 2020” was released in Beijing on December 13. In brief, the report shows that in 2020, 5G commercial use will boost investment in China by 900 billion yuan ($129 billion). Thus it will make 540,000 people employed.
Furthermore, experts from China International Economic Exchange Center, China Economic Consulting Co. Ltd. and China Institute of Information and Communications Technology formed a group. Particularly, the joint research group will study and complete the report.
The report predicts that China’s total investment in 5G will be 0.9 trillion yuan ($129 billion) in 2020 and 1.5 trillion yuan ($215 billion) in 2025. By the way, in 2020, 5G will create 540,000 jobs, exceed 3.5 million in 2025, and reach 8 million in 2030.
The “China 5G Economic Report 2020” predicts that in 2030, 5G will create a total output of 6.3 trillion yuan ($903 billion). Subsequently, 5G will create an economic value of 2.9 trillion yuan ($415 billion) in terms of direct economic contributions. Finally, in terms of indirect economic contribution, 5G will create a total output of 10.6 trillion yuan ($1.5 trillion) and an economic value of 3.6 trillion yuan ($516 billion).
Zhang Jin, a researcher at the Industrial Planning Department of the China International Economic Exchange Center, said. “The Chinese government is actively promoting 5G. Consumers are embracing new technologies. China is the world’s largest 5G market. 5G industry fund investment is launched, and the 5G industry chain has international competitiveness. Other conditions are the advantages of China’s 5G industry development.”
Zhang Jin also said that operators in the 5G era face severe challenges. These challenges include large amounts of construction funds, weak willingness to pay by consumers, pipeline thinking and so on. 5G network construction will be a gradual process. 4G and 5G will coexist in the next decade. 5G user penetration will be 48% in 2025.
According to reports, the five pioneering industries will be the first to benefit from 5G. So then these successors are mobile terminals, pan-entertainment, industrial Internet, automotive industry, and health care. Meng Pu, chairman of Qualcomm’s China region, said that we live in the era of all things connected with 5G. Therefore, innovation will burst out, and companies, individuals and society will have new beginnings in many fields. Subsequently, they will enjoy an unprecedented innovation space.source