China started the five-year plan on implementing 5G technology from 2015 to 2020. According to the China Academy of Information and Communications Technology (CAICT), eight (8) million new jobs are set by 2030.
It was also released that China spent a total of nine hundred billion US dollars ($900 billion) so far which exceeded the United States’ overall output on 5G investment by twenty-four billion US dollars ($24 billion).
A Chinese tech giant, Huawei, joined the innovation of 5G space when it set up a research center in Hefei, Anhui.
Another tech company from Finland, Nokia, has partnered with Tencent to lend a hand on building 5G applications as well as testing its capabilities.
Enacting 5G and its changes
China’s 5G investment begins to transform on a few cities of the country. One of them is Wuhan – the Hubei province capital of Central China and the home of 5G space.
The production line of the area is powered by 5G which was opened by China Information Communication Technology (CICT). The new tech was reported to boost thirty (30) percent of productivity when robotic automation was put into effect.
Being the first 5G-powered smart city, Wuhan aims to reduce energy consumption by putting the first 5G smart street post which has flexible adaptability corresponding to weather conditions and road usage.
Baidu in Xiong’an city, uses 5G test networks for virtual reality (VR) live streams. While in Fangshan, the 5G ecosystem facilitates easier data transaction on autonomous vehicles. A Chinese transportation company, Yutong, also put into the test the first 5G autonomous buses in one of the central cities of the country, Zhengzhou.
With all these few steps enacted as ways to empower 5G, it was reported by IHS Markit, a leading global information provider, that China could gain nine hundred and eighty-four billion US dollars ($984 billion) in economic value which can provide nine point five (9.5) million new jobs by 2035.
Passing through limitations
Even though 5G tech isn’t fully developed yet, it has shown a massive positive spill-over impact in China. The real estate businesses and investors see that 5G can revolutionize the current limitations of the real-estate properties and its technology.
This can result in arising new demand for house leasing as well as to increase the growth of new tech in its property.
Today, 5G presents numerous paths for China that may uncover to be the new lead on technological advancement globally against the United States.
