China’s “5G Application Sailing Action Plan 2021-2023” jointly issued by China’s MIIT (Ministry of Industry and Information Technology) and other ten departments revealed that China plans to boost its 5G user penetration rate to over 40% by 2023, Sina.net reported on July 14. By then, the number of users is estimated to exceed 560 million. The penetration rate of 5G applications in large-scale enterprises has reached 35%. In addition to telecom and IT industries, more applications will be applied to education, healthcare, and tourism sectors. Global 5G smartphone shipment volume is estimated to see a whopping 125.3% growth and reach 538.2 million units in 2021, according to MIC (Market Intelligence & Consulting Institute), a major government think tank and leading IT research institute in Taiwan. MIC further predicts global 5G smartphone shipment volume will top 1.1 billion units in 2025, representing a 29.4% CAGR (Compound Annual Growth Rate) for the period 2020-2025.