China Mobile, the nation's largest mobile carrier, said on Friday that it aims to attract 70 million 5G subscribers, and sell 100 million 5G smartphones next year.

Meanwhile, the State-owned company said it will invest 20 billion yuan ($2.8 billion) next year to build a robust ecosystem for the commercialization of 5G technologies. It is part of China Mobile's broader promise to invest at least 100 billion yuan into key areas of 5G cooperation over the next five years.

Yang Jie, chairman of China Mobile, said, "The butterfly of 5G has already fanned its wings, which will have a broader economic and social impact."

China kicked off the commercialization of 5G services on Oct 31, with China Mobile and two of its smaller rivals rolling out their 5G data plans.

China Mobile said 50,000 of its 5G base stations have already entered services so far, with 5G services available in 50 cities.

Yang said the company will focus on building standalone 5G network, and integrate 5G with artificial intelligence, blockchain and other cutting-edge technologies.