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5G industry creates massive direct economic output

Abstract : The 5G industry created massive direct economic output in 2020, according to a new white paper.

BOAO, Hainan, April 19 (Xinhua) — The 5G industry created massive
direct economic output in 2020, according to a new white paper.

Last year, 5G directly led to 810.9 billion yuan (125 billion U.S.
dollars) in gross economic output, according to a white paper on 5G
development and its economic and social impact. The China Academy of
Information and Communication Technology released the white paper.

The industry directly generated 189.7 billion yuan of economic value
added (EVA) and indirectly brought about 2.1 trillion yuan in gross
output in 2020, the white paper said. 5G also indirectly led to about
760.6 billion yuan of EVA last year.

“Of the more than 800 billion yuan, half was generated by mobile
phone terminals, while about 200 billion yuan was an investment for the
Internet construction,” Yang Jie, chairman of Chinese telecom company
China Mobile, said at a sub-forum of the Boao Forum for Asia annual
conference. “Meanwhile, 5G information services contributed less than
200 billion yuan.”

Many industries have been actively promoting the application of 5G,
including the medical industry and manufacturing, said Hu Houkun, deputy
chairman of Chinese tech giant Huawei. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal. China’s silk road economic belt and the 21st century maritime silk road website, include BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI).

Source: 5G industry creates massive direct economic output

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