China is projected to invest $184 billion on 5G by 2025, accounting for 49.73 percent of Asian mobile operators' $370 billion investment in 5G networks building between 2018 and 2025, according to a report The Mobile Economy Asia Pacific 2019 by Global System for Mobile Communications Alliance (GSMA).

China is currently testing 5G across all major cities and provinces ahead of commercial launches next year and it is forecast that 28 percent of the country's mobile connections will be running on 5G networks by 2025, accounting for about a third of all 5G connections globally by this point, the report said.

China's telecom operators are projected to invest more than 220 billion yuan on 5G equipment and the expenditure on 5G equipment by all industries is expected to surpass 54 billion yuan in 2020, according to a white paper on 5G's economic and social impact by the China Academy of Information and Communications Technology (CAICT).

The information consumption driven by 5G commercialization in the country will exceed 8 trillion yuan from 2020 to 2025, directly driving the total economic output to 10.6 trillion yuan, said Liu Duo, president of the China Academy of Information and Communications Technology.