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Report: 5G crucial for China digital economy 2020-2025
May 30, 2019 10:48CST
It will drive digital economic output by 15.2 trillion yuan

SHANGHAI, May 30 (SMM) – 5G technology will be the new growth engine for China's digital economy, driving output by 15.2 trillion yuan in 2020-2025, said Wang Zhiqin, vice-president of China Academy of Information & Communications Technology (CAICT).

Speaking at the 5G Industry Development and Investment Summit held in Beijing on May 29, he estimated that, in the next five years, 5G will create economic growth of 3.3 trillion yuan in the information industry, and 11.9 trillion yuan in the traditional sectors such as medical care. 

China’s eastern coastal province of Zhejiang targeted revenues of 2.5 trillion yuan from 5G-related core industries for the digital economy by 2022. 

Beijing also committed to accelerate the construction of a number of 5G projects such as intelligent manufacturing of 5G communication equipment and operating systems.

Market commentary

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