BEIJING -- The gross output value of China's information and communication technology (ICT) industry hit 20 trillion yuan ($3 trillion) in 2017.

The output value of internet firms exceeded that of the telecom industry for the first time in 2017, said the China Academy of Information and Communications Technology (CAICT).

The number of wired broadband subscribers in China is currently at 340 million, while the number of mobile broadband users is 1.1 billion.

China has the world's largest 4G network, with 4G users surging to 770 million as of the end of 2016, double the number from a year earlier.

The country is also researching and testing 5G technology, with a goal to commercialize it by 2020.