The SCMP reports that Hong Kong has the highest Internet speeds of the world.
The top recorded speed of 54.1 megabits per second was documented in Hong Kong in the third quarter of 2012. The article mentions China averages about 1.6 Mbps

China: what peaks are you talking about? I already become dizzy if I read people complain they have only speeds like 3 Mbps, too slow, as others have 15 Mbps in some countries. In Beijing, despite all our complaints and “upgrading” my download speeds going “straight” are typically 100 kbs if all is well (if not, 20 kbs). Sometimes speeds using one VPN go higher, like 500 kbs, a reason to celebrate. Internet infrastructure in China is still lousy, not even to talk about the censorship. Some of my friends, in newer compounds with less kids surfing for movies and games, report better speeds. Still, feels like being in the Internet Stone Age.
See SCMP “Hong Kong has fastest peak internet speed in world”:
http://www.scmp.com/news/hong-kong/article/1135480/hong-kong-has-fastest-peak-internet-speed-world