The DEMO World innovation summit in the CSSC Pavilion in Huangpu District.
5G is expected to drive a technological reform lasting 15 years and create a series of start-up opportunities, a senior official of the US chip giant Qualcomm told a local forum over the weekend.
Driven by 5G technology, people will see billions of Internet of Things, mass data and new capabilities, such as abundant perceptions, local storage, protection for privacy and security of industrial application, along with efficient, real-time, automated and personalized capabilities, Shen Jin, vice president of Qualcomm and managing director of the company's venture capital investment sector, told the Demo World innovation summit.
China has 285 million 5G subscribers with more than 819,000 5G base stations, accounting for 80 percent of the world's total and making it the world's biggest 5G market, according to the world's biggest mobile chip maker.
By 2025, 5G will drive 1.2 trillion yuan (US$188.4 billion) in Internet construction investment, 8 trillion yuan in information consumption and 2.93 trillion yuan of economic growth, Shen said.
More than 150 experts, officials of multinational companies and investors attended the innovation summit at the China State Shipbuilding Corporation (CSSC) Pavilion in Huangpu District.
Hosted by the world's famous startup and innovation service provider Cyzone, the annual summit has become a major innovation platform to cap the city's ambition to build a scientific and innovation center with global influence, according to the city's commission of economy and information.
Shanghai has accelerated the development and testing of 5G services covering medical, industrial, manufacturing and entertainment applications. The next-generation mobile technology offers 20 to 50 times faster mobile Internet access.
The vastly faster speed it brings is expected to be a dramatic boost for industry and consumers – for everything from health care and manufacturing to smart driving, high-definition streaming and urban management, according to the commission.
The CSSC pavilion was renovated from the workshop of Shanghai's century-old Jiangnan Shipyard for the World Expo 2010. The yard has since moved to Changxing Island.
The former welding workshop forms the basis of the 7,000-square-meter pavilion built on the shipyard's original site along the Huangpu River.
Shen Jin, vice president of Qualcomm.
Editor: Cai Wenjun