A positioning information processing method, comprising: receiving, by a test terminal, a cell-specific reference signal sent by a base station and a configuration of the cell-specific reference signal sent by the base station, and obtaining an original cell-specific reference signal, wherein the obtaining the original cell-specific reference signal comprises generating the original cell-specific reference signal according to the configuration; obtaining, by the test terminal, a multipath characteristic quantity according to the received cell-specific reference signal and the original cell-specific reference signal, wherein the multipath characteristic quantity refers to characteristic information of a time-domain correlation spectrum that is corresponding to the cell-specific reference signal received by the test terminal and the original cell-specific reference signal, wherein the multipath characteristic quantity comprises a quantity of main-path sampling points on the time-domain correlation spectrum and a quantity of secondary paths on the time-domain correlation spectrum, wherein on the time-domain correlation spectrum, a discrete time point or a sampling point is used as a horizontal coordinate, and an amplitude is used as a vertical coordinate and the quantity of main-path sampling points is a quantity of discrete time points or sampling points whose amplitudes are greater than a preset main-path amplitude on the time-domain correlation spectrum, and the quantity of secondary paths is a quantity of peaks, except a peak of the main path, whose peak values are greater than a preset secondary-path amplitude on the time-domain correlation spectrum; and sending, by the test terminal to a server, reference signal received power, RSRP, and timing information, and the obtained multipath characteristic quantity that are corresponding to each test site, so that the server obtains location information corresponding to a user terminal by using a correspondence among the RSRP, the timing information, the multipath characteristic quantity, and test site location information. receiving, by a test terminal, a cell-specific reference signal sent by a base station and a configuration of the cell-specific reference signal sent by the base station, and obtaining an original cell-specific reference signal, wherein the obtaining the original cell-specific reference signal comprises generating the original cell-specific reference signal according to the configuration; obtaining, by the test terminal, a multipath characteristic quantity according to the received cell-specific reference signal and the original cell-specific reference signal, wherein the multipath characteristic quantity refers to characteristic information of a time-domain correlation spectrum that is corresponding to the cell-specific reference signal received by the test terminal and the original cell-specific reference signal, wherein the multipath characteristic quantity comprises a quantity of main-path sampling points on the time-domain correlation spectrum and a quantity of secondary paths on the time-domain correlation spectrum, wherein on the time-domain correlation spectrum, a discrete time point or a sampling point is used as a horizontal coordinate, and an amplitude is used as a vertical coordinate and the quantity of main-path sampling points is a quantity of discrete time points or sampling points whose amplitudes are greater than a preset main-path amplitude on the time-domain correlation spectrum, and the quantity of secondary paths is a quantity of peaks, except a peak of the main path, whose peak values are greater than a preset secondary-path amplitude on the time-domain correlation spectrum; and sending, by the test terminal to a server, reference signal received power, RSRP, and timing information, and the obtained multipath characteristic quantity that are corresponding to each test site, so that the server obtains location information corresponding to a user terminal by using a correspondence among the RSRP, the timing information, the multipath characteristic quantity, and test site location information.