China Mobile charts growth in 5G

China Mobile targets to sell 100 million 5G smartphones in 2020 as the world's biggest mobile carrier accelerates 5G development, the company said on Friday in Guangzhou.

5G is a new growth engine for the mobile industry as well as the transformation and development of China's economy, Yang Jie, China Mobile’s chairman, said during the China Mobile Global Partners Conference 2019 held in Guangzhou. 

Also in 2020, China Mobile plans to add 70 million new 5G users and push 5G industrial applications in over 100 industries. Meanwhile, it will create a 5G-supported ecosystem and share income with partners valued over 10 billion yuan (US$1.43 billion), covering cloud, smart devices and integrated communications, according to China Mobile. 

China Mobile has established several funds to support 5G, including a 3-billion-yuan fund for ultra-definition video production and transmission.

More than 10 million people have subscribed to 5G services in China since the country officially issued 5G licenses in June. The carriers started official commercial use this month.

China Mobile has already built 50,000 5G base stations nationwide and started commercial use of 5G services in 50 cities, including Shanghai. Meanwhile, China Mobile has led, or been involved in creating, 50 international 5G standards, more than any other global carrier, Yang said.

Industry leaders including Huawei Chairman Liang Hua and Xiaomi’s CEO Lei Jun also attended the conference.

With the development of 5G, China’s digital economy is expected to account for 50 percent of the country's total revenue, compared with 35 percent in 2018 and 23 percent in 2013, Yang told the conference, citing industry figures.

By 2025, more than 600 million users in China are expected to use 5G services, analysts said.