Integration to give Internet a boost
Print Edition
INTEGRATION with other industries such as media, finance and manufacturing, along with improved information technology infrastructure, will continue to boost development of China’s Internet industry, speakers told the World Internet Conference in Wuzhen yesterday.
Alibaba, Foxconn and Hunan TV were among the companies talking about the opportunities and changes in people’s daily lives brought about by the Internet.
Speakers told of China’s upgrading of mobile networks, expanded broadband coverage and improving national logistics networks to offer better infrastructure for Internet development.
“Users get used to obtaining customized content today,” Liu Shuang, president of the Feng Phoenix New Media, said. “Media firms have to embrace the Internet and new technologies to meet the demand.”
Hunan TV said its online advertising revenue reached 700 million yuan (US$109.4 million) as of late August this year, 10 times the amount in the same period in 2014.
Speakers also talked about the booming development of online finance and its regulation.
More than 500 billion yuan has been lent to more than 2 million small and medium sized enterprises, an active part of China’s economic development, through Alibaba’s online finance platform Ant Financial.
More loans will be poured into enterprises in rural areas through online finance tools, where it is difficult to get loans from banks, Peng Lei, chief executive of Ant Financial, told the forum.
Lei Jun, Xiaomi’s CEO, and Terry Gou, chairman of Foxconn, spoke of a promising future for robots in China’s manufacturing industry
Liu Qiangdong, JD.com’s CEO, said the e-commerce giant is establishing a self-operated delivery network nationwide, capable of delivering all kind of products including fresh food.
ZTE and China Telecom are demonstrating 5G applications in Wuzhen with claims that 5G models offer 5 times the download speed of with current 4G network.
By 2020, it is estimated that broadband will cover around 90 percent of rural regions across the world, which is expected to boost Internet development and various online services, Zhao Houlin, secretary-general of the International Telecommunication Union, told the forum.
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