(Yicai Global) Sept. 27 -- The fifth-generation wireless standard should be developed in China in less than three years, according to a chief scientist at a state-owned communications equipment maker. The super-fast internet infrastructure should create millions of jobs in the country. 

"By 2020, China will launch the commercial use of 5G," Song Zhiqun, chief scientist of communications and transmission department at China Electronics Technology Group, said in an interview with Yicai Global yesterday. The upgraded network will be hundreds of times faster than the current standard 4G, and it will also be more secure and reliable. 

By 2030, 5G will create about 8 million jobs, and contribute about CNY2.9 trillion (USD421.5 billion) in economic added value, according to a report released by a research arm of the Ministry of Industry and Information Technology in June last year. 

5G ups the ante to meet the requirements of virtual reality and ultra-high definition video, Gu Yongcheng, vice president of connected security products firm Gosuncn Technology Group, said. The fifth-generation network will also be able to link the Internet of Things devices with control systems and the Internet of Vehicles, he added.

The construction of 5G infrastructure is likely to take place in the period from 2019 to 2025, market insiders said. The demand for core hardware like base stations and antennae will be great with the investment of CNY200 billion (USD29.6 billion), they added.

Many companies have begun to build foundations on what will become the 5G industry, analysts said. Guangzhou-based internet service provider Gci Science & Technology revealed last week that the company has set up a related research center. 

Editor: Emmi Laine