(Yicai Global) Nov. 21 -- China will build the world's best fifth-generation wireless network industry so long as it fully leverages its advantages, according to the rotating chairman of telecoms equipment giant Huawei Technologies.

The nation tops the world in terms of spectrum resources, base station numbers, construction capabilities, consumer awareness and demand, industry and corporate participation and government support in the 5G sector, the Beijing News reported, citing Xu Zhijun.

China has the most complete devices industry chain, accounts for more than half of the world's smartphone shipments and is a world leader in 5G technology, Xu added from the ongoing World 5G Convention in Beijing. The country is expected to have more than 200 million users by next year.

The world is sharing the dividends brought about by China's massive 5G network construction drives and licensing, increasing demand for 5G network equipment from suppliers in China, Europe and the rest of world, Xu said. It has pushed the global semiconductor industry back to stable growth in the third quarter and other equipment manufacturers will also benefit. The growth of 5G will encourage consumers to upgrade their handsets which will in turn benefit the terminal industry chain.

We must have an objective understanding of 5G and jointly develop it, said Xu. Cross-industry collaboration requires persistent effort in order for 5G to become the digital infrastructure used in different sectors. Whether 5G base stations and the core network are physically closely deployed or not will not affect the independence of the two parts.

The development of 5G will bring innovation and growth opportunities to fields like high-definition video, virtual reality and cloud gaming. We must coordinate with artificial intelligence, Big Data and cloud computing technologies to create greater value, Xu added.