BEIJING -- China's 5G network development has achieved good results, according to the Ministry of Industry and Information Technology (MIIT).

The country now has over 690,000 5G base stations. More than 500,000 of these were built in 2020, achieving the target set at the beginning of this year ahead of schedule, Wen Ku, an official with the MIIT, told a press conference on Thursday.

China's 5G mobile phone shipments from January to September reached about 108 million, Wen said.

With the rapid rise of 5G users, the number of terminal devices connected to the network exceeded 160 million by Monday, Wen added.

5G is playing an important role, especially in stabilizing investment, promoting consumption and fostering new drivers of economic development, the official said.