5G is not 5G is not 5G. 85+% of 5G will be mid and low bands, below 6 GHz. Typical speeds will be 100-400 megabits. In the U.S. Sprint holds a huge chunk, well over 100 MHz. China Mobile has 160 MHz. They can, and probably will, have better 5G than all but a handful of carriers who are doing mmWave. Huawei is ready to deliver equipment for maximum performance at 2.6 GHz.
Europe and Japan will do almost all of their early 5G in 100 MHz or less of 3.5 GHz spectrum. Higher signals, such as 3.5 GHz, fade so rapidly that until recently this band was unusable for broadband. With Massive MIMO, 100 MHz of 3.5 has the performance of 20-40 MHz in lower spectrum - with a spectrum cost of a quarter or less most places.
2.5 GHz has much greater reach, especially with Massive MIMO antennas.
The 5G standard is likely to be expanded from the current 100 MHz maximum. I believe Huawei has already developed that capability for China Mobile and its 900 million subscribers. Sprint can't buy from Huawei, of course, but Samsung and Ericsson should be able to develop a similar capability.
5G is more about capacity than raw speed. China Mobile's 160 MHz at 2.5 will allow it to serve many more customers than Telecom & Unicom, using higher frequencies. Each of the carriers has access to the 1,800,000 masts of China Tower and additional cells they own. Even adjusting for China's population, that's 3 or 4 times as many cells as Verizon or AT&T. It will be one heck of a network, on average probably the best in the world. China Mobile should be able to deliver millimetre wave-like capacity using the 2.5 GHz.
Sprint isn't as lucky, but their 2.5 GHz spectrum will put them far ahead of T-Mobile. A year ago, Verizon CEO Lowell McAdam said he would bring mmWave to the whole of the U.S., which Sprint couldn't match. Since then, both AT&T and Verizon have backed off the high-performance mmWave for much of the country.