5G Contribution To China Economy To Reach $1 Trillion In 10 Years - Business Executive

5G Contribution to China Economy to Reach $1 Trillion in 10 Years - Business Executive

The direct and indirect contribution of 5G technology to China's economy by 2030 will amount to 6.5 trillion yuan ($915.4 billion), Wang Jianzhou, the former chairman of one the world's biggest mobile operator, China Mobile Limited, said on Saturday

BEIJING (Pakistan Point News / Sputnik - 07th September, 2019) The direct and indirect contribution of 5G technology to China's economy by 2030 will amount to 6.5 trillion Yuan ($915.4 billion), Wang Jianzhou, the former chairman of one the world's biggest mobile operator, China Mobile Limited, said on Saturday.

"What will receive the world from 5G? These technologies will bring an extremely great economic value, both direct and indirect. The direct economic value is associated with investments in equipment for 5G and the production of mobile devices. The indirect economic value is the contribution of 5G technologies in development of those industries, where they will be applied ... According to forecasts, 5G's direct contribution to China's economy will amount to 2.9 trillion yuan [$408.5 billion] by 2030, while the indirect one will amount to 3.6 trillion yuan [$507 billion]," Wang said at a forum in Beijing.

According to him, 5G is not only a technological issue, as these networks will bring benefits in both economic and social aspects, since they will provide a higher speed computing of huge amount of data, lower latency and higher data transfer density.

"The 4g technology was designed for connecting a person with a person, the 5G technology will help to connect a person with all things," Wang stressed.

The business executive added that the world is interested in 5G technologies as more advanced wireless networks are the key element of digital economy.