A staff member demonstrates a VR device supported by the 5G network at the booth of telecom giant China Mobile during the 22nd China Hi-Tech Fair in Shenzhen, south China's Guangdong Province, Nov. 12, 2020. (Xinhua/Mao Siqian)

It is estimated that China's 5G communications industry will reach a value of 503.6 billion yuan (about 76.75 billion dollars) in 2020, an increase of 128 percent over the same period last year.

China's 5G communications industry reached a value of 225 billion yuan in 2019, an increase of 133.2 percent over the same period last year, according to a White Paper recently released by China Center for Information Industry Development (CCID).

The White Paper predicts that by 2030, the number of 5G base stations in China will reach 15 million, the cumulative direct investment in 5G infrastructure will reach 4 trillion yuan, and the cumulative GDP driven by 5G infrastructure construction will reach 1.7 trillion yuan.

According to data from the Ministry of Industry and Information Technology, it is expected that by the end of 2020, the total number of 5G base stations in China will exceed 600,000. It is estimated that China's 5G communications industry will reach a value of 503.6 billion yuan in 2020, an increase of 128 percent over the same period last year.