Mobility driving China’s economic growth

China’s mobile ecosystem added 5.2 trillion yuan ($750 billion) in value to the country’s economy in 2018, according to a new GSMA report.

Mats Granryd, director general of the GSMA says the report confirms how China’s mobile industry has been a key driver of economic growth, inclusion and modernization – creating a new generation of digital consumers and transforming industry and society.

Grandryd says China’s mobile operators will invest a further 401 million yuan with the rollout of 5G.

Numbers speak volumes

• China is the largest mobile market in the world with 1.2 billion unique mobile subscribers at the end of 2018, about 82% of the country’s population;
• 69% of mobile connections in China are smartphones, with smartphone adoption expected to reach 88% by 2025;
• 4G networks cover 77% of China’s connections peaking in the coming years before falling as consumers migrate to 5G services;
• By 2025, there will be 460 million 5G connections – this will, however, only account for 28% of China’s total network connection;
• By 2023, mobile connection will contribute 6 trillion yuan to the economy, up from 5.2 trillion yuan in 2018;
• China’s mobile ecosystem directly and indirectly supported 8.5 million jobs in 2018 and contributed 583 yuan in tax revenue;
• The number of licensed cellular IoT connections in China stood at 672 million at the end of 2018, supporting various industrial and smart cities applications.