BEIJING - A telecom academy has predicted that 5G technology in China will drive 6.3 trillion yuan ($930 billion) of economic output by 2030.

Beijing's China Academy of Information and Communication Technology said Tuesday in a report that the new generation of mobile networks will help digital industries and reshape the landscape of economic development.

China's digitization drive will be made easier, with more investment into internet sectors, stimulating data consumption and improving national competitiveness.

By 2030, 5G-related sectors will generate around 2.9 trillion yuan of economic value added and 8 million new jobs.

The world is in a "crucial period" of standards development for 5G and its application, the report said, calling for the government to help build internet infrastructure and create a better business environment.

China has worked hard in research and development of new networks. The world's largest 5G test field has been built in Huairou district, Beijing, with the participation of industry giants including Ericsson, Huawei and Nokia.

The country's major telecom operators plan to commercialize 5G mobile networks as early as 2020.