Sometime between October 2019 and October 2020, China will have the largest 5G network in the world. The three giants - Mobile, Telecom, & Unicom - will rapidly deploy 1,000,000 base stations each, probably by 2021 or 2022. They will keep going, possibly past 2,000,000. Consumer speeds will mostly be 100-700 meg down. That's already decided and carriers are publicly committed. The three companies are negotiating sharing towers, radios, and even backhaul/transit.
Minister Miao Wei in 2016 set the goal of 25 ms latency to 90% of the country in 2025. At the time, his plan seemed ambitious and far ahead of anyone I Europe or the U.S. To everyone's amazement, the technology has advanced so fast that will likely be achieved by 2023. The question now is whether China will reduce that to 15-20 ms. With URLLC, that can be reduced to less than 10 ms soon after.
China is planning a major push in automotive, which may support a low latency build. Latency is important for AR & VR; the Minister's 25 ms may not be adequate. AR & VR are so important to the Chinese, the Chairman has spoken up. See Chairman Xi Jinping on VR: Go Gamers!
5G air latency today is ~10 ms. No one outside of China is thinking of putting servers at every tower.