5G Pilot Projects to Be Launched

The development and use of 5G technology in China will drive RMB 6.3 trillion of economic output by 2030. Sectors related to 5G will generate around RMB 2.9 trillion of economic value added and eight million new jobs by 2030， according to a white paper released by the China Academy of Information and Communication Technology in mid-June.

The white paper pointed out that the new generation of mobile networks will accelerate the digitization of the countrys economy， and reshape the picture of economic development.

In the second half of 2017， pilot projects are planned to be carried out in cities including Beijing， Shanghai， Chongqing， Guangzhou， Nanjing， Suzhou， and Ningbo by three telecom giants， namely China Mobile， China Unicom， and China Telecom.

The companies will test 5G technology and launch applications such as autonomous driving， smart cities， and smart homes based on the network.

Chinas digitization drive will be made easier with more investment in Internet sectors， boosting digital consumption， and increasing national competitiveness.

The world is in a “crucial period” in terms of making standards for development of 5G technology and its application， the white paper said， calling for the government to help build Internet infrastructure and create better business environments.

China has worked hard to research and develop 5G networks. The worlds largest 5G test field has been built in Huairou District in Beijing， with the participation of industry giants including Ericsson， Huawei， and Nokia.

The countrys major telecom operators plan to commercialize 5G mobile networks by 2020.

Boost Green Finance

The State Council decided in June during an executive meeting to set up pilot zones for developing green finance， with an aim to support its industrial upgrading and green development.

The pilot zones will be in Zhejiang， Jiangxi， Guangdong and Guizhou provinces， and Xinjiang Uygur Autonomous Region. The zones will explore replicable ways to boost green finance.

While countries around the globe compete to develop green economies and seek sustainable development， it has become the consensus to establish and improve the mechanism for the development of green finance.

China will support financial institutions to set up green finance departments and welcome foreign capital to participate in green investments.

The State Council will also encourage the development of “green credit.” The country will roll out pilot markets for trading the right to use water and energy and the right to discharge pollutants.

The central government will provide supportive fiscal， tax， and land policies for green industries and projects. A risk prevention mechanism will also be established for the healthy development of green finance.

“In the pilot zones， small loans， financial lease， venture capital， private equity， and insurance will be encouraged for green investment， which will further boost the development of green finance，” said Lian Ping， chief economist of the Bank of Communications.

Growing Sale of Industrial Robots

China remained the largest market for industrial robots in 2016， with sales rising by 26.6 percent year on year to about 88，900， according to data released by China Robot Industry Alliance.

The advanced robots， represented by multi-joint robots， account for 61.5 percent of total sales. The domestically produced robots occupied a market share of 33 percent.

China is also spreading the use of industrial robots to sectors including car manufacturing， aviation， and home appliances.

According to the alliance， the 3C industry（computers， communications， and consumer electronics） will hopefully surpass the auto industry and become the largest application field of industrial robots in the next three to five years.

Chinas robot density – measured by the number of robots per 10，000 manufacturing workers – was 49 in 2015， compared with the world average of 69. There is still plenty of room for growth.

China unveiled a national plan， dubbed“Made in China 2025” in May of 2015， which is a 10-year action plan designed to transform China from a manufacturing giant into a world manufacturing power featuring intelligent manufacturing.

Qu Daokui， president of the alliance， pointed out that the development of robotics industry has become a major aspect in transforming and upgrading Chinas manufacturing industry.

E-commerce Market to Grow 19 Percent in 2017

The e-commerce market in China is expected to grow by about 19 percent in 2017， according to a report released by the global management consulting firm McKinsey & Company at the end of June.

China has entered “a new retail era” characterized by the blurred boundaries between online and offline retail， as well as huge potential and demand for customized products.

After years of explosive growth， China has emerged as the worlds largest e-commerce retail market， equaling the combined size of the six other major markets including the U.S.， the U.K.， Japan， Germany， South Korea， and France.

The popularity of social media also spurs online buying， the report said. Many e-commerce traders are expanding into online social networks， however， the service offered via social networks still cant compare with that provided by major online shopping sites. There is huge market potential if they can improve their services and logistics， the report pointed out.

Last year， Chinas e-commerce market expanded 19.8 percent year on year to RMB 26.1 trillion， accounting for 39.2 percent of the worlds total， according to the Chinese Ministry of Commerce.