Huawei released the "5G Applications Position Paper" on Tuesday at a forum on the sideline of the International Telecommunication Union (ITU) Telecom World 2019 in Budapest, Hungary, looking forward to 5G application scenarios in the areas of enhancing broadband, media and entertainment, industrial manufacturing, and intelligent transportation.

It also called on global industry organizations and regulators to actively promote standard coordination and spectrum in place, sufficient resource and good business environment be ready to guarantee the implementation of 5G commercial deployment and applications.

Yang Chaobin, president of the Huawei 5G product line, shared his view on 5G application scenarios at the forum "5G+Gigabit: Connecting an Intelligent Future." He said that 5G commercial deployment in large scale is in full swing.

Globally, 35 operators in 20 countries have released 5G. In addition, 33 countries have allocated 5G spectrum.

According to Huawei's prediction, 5G will open up trillions of market space and investment opportunities in the future. In 2035, 5G will generate 12.3 trillion U.S. dollars of economic output globally, and 80 percent of telecom revenues will be linked to 5G.

Over the past 10 years, Huawei has invested a total of 4 billion U.S. dollars in 5G, making it a leader in 5G chips, products and networks.

The ITU Telecom World 2019 runs from September 9 to 12.