Report forecasts major gains from 5G tech

As China moves to the forefront of fifth-generation or 5G mobile communication technology, 6.3 trillion yuan ($925 billion) of economic output and 8 million jobs will be created by 2030, a telecom academy said.

The China Academy of Information and Communications Technology said in a report that 5G will accelerate digitalization and promote the rapid growth of telecom, equipment manufacturing and information services.

The report also said at the initial stage of commercialization of 5G mobile networks, telecom carriers will carry out large-scale network construction. Revenue from the investment on network equipment will become the major source of economic output related to 5G.