According to the most recent report from the China Academy for Information and Communications Technology (CAICT), a government-funded think tank, China now has more than 110 million 5G users, making it the biggest 5G market in the world.
China started issuing a variety of 5G-related licenses 1-year ago and since that time, numerous companies have moved forward with 5G projects including developing 5G infrastructure across the country.
China’s major telecommunications companies have moved forward constructing more than 500,00 5G network base stations, while equipment makers released 45 smartphone models in August and sold more than 27 million units, and at current sales rates there will be more than 150 million 5G smartphones in use by the end of this year.
With an average of 15,000 new base stations added every week, China will have more than 600,000 base stations by the end of the year, providing coverage to 300 major cities across the country.
As well as developments by private companies, the Chinese government is also pushing multiple industries to develop Internet of Thing (IoT) application that will utilize 5G as the backbone of their services. In addition to IoT applications, Chinese companies, with substantial government support, are developing integrated applications for the automotive, education, entertainment and media, medical and telecommunications industries.
At a recent conference, a spokesman for the CAICT said that the focus of 5G development is evolving and shifting, from scientific and technical research to concrete, applications that will generate revenue.
The estimate of 150 million users by the end of this year are still a fraction of the 1.6 billion mobile subscribers in the country, and Chinese companies are anticipating a growth in their revenue over the next 3 to 4 years as more people switch to 5G.
According to one estimate, China’s 5G efforts will bring in trillions of dollars of economic activity across multiple sectors related to equipment and networks and will stimulate trillions of dollars in mobile data consumption, information services and other products.