Precise point positioning (PPP) technology is one of the core technologies in the field of GNSS high-precision positioning. It is used widely because it can realize centimeter-level positioning in outdoor environments by using only a single receiver. However, its convergence is time-consuming, particularly in urban areas where satellite occlusion is more severe. A combined BeiDou Navigation Satellite System (BDS) and fifth generation mobile communication technology (5G) PPP observation model is proposed, in which the two kinds of observations are combined and solved at the original observation level. The impact of different numbers and geometries of 5G base stations on the convergence time of PPP is analyzed from both static and dynamic perspectives. The results confirm that PPP technology combining BDS and 5G can effectively accelerate convergence while improving the accuracy of positioning.