big data industry and is willing to share opportunities of the digital economy’s development with other countries and jointly explore new
growth drivers and development paths by exploring new technologies, new business forms and new models, Xi added.
With increasingly wider applications of digital technologies in China, the country is expected to generate
and store 27.8 percent of global online data by 2025, up from 23.4 percent last year, according to a r
eport by market researcher International Data Corp and data storage firm Seagate.
In comparison, the US share will stand at 17.5 percent by 2025, a drop from its 21 percent share in 2018, the report added.
United Nations Secretary-General Antonio Guterres said th
at from medicine to transportation to farming, big data presents the world with a re
markable tool to advance global progress, but with that opportunity also comes risk.
that have struggled to stay afloat.In the 1990s China Record Group Co Ltd, the biggest and oldest re
cord company in the country, sold about 10 million records, such as pop, folk, and classical music by Chinese
singers and orchestras, says Hou Jun, the company’s vice-president. In the early 2000s the number dropped to no more
than 10,000 copies, and the huge change in the way music was consumed led to many Chinese record companies folding.
In the late 1990s China Record Group Co Ltd closed down its last vinyl prod
uction line because of the decline of the market for physical records.However, last year, as the
company celebrated the 110th anniversary of its founding, it launched a project to revive vinyl production. The com
pany has imported a production line from Germany that marks the start of the company’s
vinyl production, and it has set up a vinyl records factory in Shanghai that has a complete production line.
Firm likely to be largest smartphone vendor in the world by end of this year
Huawei Technologies Co said on Thursday that it aims to grow the revenue of its consumer business group, which chiefly includes
smartphones and personal computers, to $100 billion in three years and to $150 billion in five years.
The announcement came after the company’s consumer busin
ess group posted $52.5 billion in revenue last year, up 45 percent year-on-year. Th
at also marked Huawei achieving the target of $50 billion two years ahead of schedule.
Yu Chengdong, CEO of Huawei’s consumer business group, said five years later, smartphone
s will account for about two-thirds of its $150 billion revenue goal, and computers, smartwatches as well as oth
er internet of things devices are likely to account for about one-third or 40 percent of its CBG revenue.
According to Yu, Huawei is likely to become the largest smartphone vendor by the end of this year at the earliest, althoug
h its products are not available in the United States and South Korea due to “nonmarket factors”.