Daily News-20191009

 |  Xinhua / China Daily

Today's point

1.Macro: 

China to improve business environment through gov't legislation

2.Industries:

Chinese consumers boost smart TV industry

3.Trade:

China Focus: Six years on, Shanghai FTZ bears fruit amid bolder reform

4.Companies:

Google may acquire Firework to rival TikTok

 

 

Quick view

1. China to improve business environment through gov't legislation

[Photo/IC]

BEIJING -- The State Council, China's cabinet, on Tuesday passed a draft of regulations on improving business environment, offering market entities institutional guarantee when they invest and develop business in China.

The draft focuses on the demand from market players, and establishes basic institutional norms in business environment that give equal treatment to domestic and foreign enterprises, according to a statement released after a State Council executive meeting chaired by Premier Li Keqiang.

(source: Xinhua)

 

2. Chinese consumers boost smart TV industry


Honor, a smartphone brand of Huawei Technologies Co, launches its first smart TV called Honor Vision powered by its HarmonyOS in August in Dongguan, Guangdong province. [Photo provided to China Daily]

Products offer interactive scenarios, enhance integration with mobile phones, and connect with various home devices

Increasingly affluent Chinese consumers are giving a powerful boost to smart TVs in their pursuit of a high-end lifestyle. In an era of artificial intelligence, this has become a lot easier.

Data from market research firm International Data Corporation forecast the shipment of smart TVs in China will soar to 49.38 million units in 2023, having reached 10.84 million units in the first quarter of this year.

Chinese home appliance manufacturers are pressing ahead with smart TV products which offer interactive scenarios, enhance their interaction with mobile phones, and connect with various smart home devices, to attract customers despite a slowdown in the domestic TV sector.

Hisense Group, a leading television and appliance manufacturer, launched its brand-new social TV with a Hi Table interactive system for large-screen social viewing in the Chinese market.

The TV will provide users with interactive experiences, including six-party video chat, cinema sharing, 3D karaoke, artificial intelligence-powered visual recognition and fitness, and multi-screen communication.

Wang Wei, deputy general manager of Qingdao Hisense Electric Co Ltd, the listed arm of Hisense Group, said the TV has become the intelligent center for family entertainment and interaction.

"The large-sized screen has entered the era of social interaction," Wang said.

(source: China Daily)

 

3. China Focus: Six years on, Shanghai FTZ bears fruit amid bolder reform

SHANGHAI, Oct. 8 (Xinhua) -- From the first batch of made-in-China Tesla to the first foreign-owned comprehensive hospital, the Shanghai free trade zone (FTZ) is advancing towards a higher level of openness since its establishment six years ago.

The Lingang area, the newly-launched section of the Shanghai FTZ, is "Tesla's dream city" in the eyes of Tao Lin, Tesla's Global Vice President.

Since the world-leading electric carmaker acquired a plot of land in Lingang last October, it has accomplished plant construction, equipment installation and testing within a year, heading towards the final stage of production and delivery.

The main body of the Tesla Shanghai gigafactory has been completed, and key workshops such as the stamping, spray-painting and final assembly workshops are already capable of production, said Yuan Guohua, president of the Lingang Group. The first batch of Body-in-White of test vehicles have rolled off assembly lines, and the China-made Tesla Model 3 will be delivered by the end of the year.

(source: Xinhua)

 

4. Google may acquire Firework to rival TikTok

Google is reportedly considering buying Firework, a US-based video sharing platform, in an apparent move to counter competition from TikTok – known in China as Douyin – in the exploding short video market.

The Wall Street Journal cited insiders saying Google held talks with the video sharing startup, although these talks may lead to a partnership rather than acquisition. Sources said Chinese Twitter-like platform Sina Weibo also expressed interest in a Firework acquisition, but talks with Google are "further along", according to The Wall Street Journal.

Valued at over $100 million in a fundraising campaign earlier this year, Firework is owned by Loop Now Technologies in Redwood City, California.

In spite of some similarities, the US video platform differs to TikTok, owned by the Chinese company Bytedance, in key areas.

(source: China Daily)

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