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Young people from different countries experience China’s digital economy

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BEIJING, July 8, 2023 /PRNewswire/ — During a friendly competition called “A Digital Day Tour of Beijing” on June 17, young participants from several countries vied to unlock their missions in Beijing via some of China’s most popular mobile apps, including hailing rides, learning about the ancient sage Confucius (551-479 B.C.), hopping on a shared bike, and posting pictures of their accomplished tasks on Weixin, China’s domestic version of the WeChat super app. Those most adroit at using the apps won the “race.”

 

They immersed themselves in China-style digital life and successfully completed the tasks on their checklists. But three days earlier, when they had just arrived in Shenzhen, a major tech hub in south China’s Guangdong Province, most of them had never heard of, let alone used, these Chinese apps.

“They” refer to 16 young people from 14 countries, including China, the United States, the United Kingdom, Spain, Brazil, South Africa and Pakistan, who joined in the 2023 Future Close-Up Program for a six-day journey, from June 15 to 20, taking them around Shenzhen and Beijing to gain an in-depth understanding of China’s achievements in developing its digital economy.

Participants, comprised of entrepreneurs, scholars and reporters, first spent two days in Shenzhen and then four days in Beijing, including a one-day closing forum. The program was hosted by China International Communications Group (CICG) and Chinese Internet tech giant Tencent, and coordinated by the CICG Center for Americas.

App life

“Chinese applications and economies are always evolving to offer residents a better, more convenient life,” said Jose Carlos Feliciano Nishikawa, a Peruvian participant and Deputy Director of the Center for China and Asia-Pacific Studies at his home country’s Pacific University.

In 2009, when he first came to China, he created a QQ account, an instant messaging software service and web portal. Later, he used Renren, a Chinese social networking service similar to Facebook and Weibo, China’s Twitter equivalent.

In 2013, he installed Weixin on his smartphone. “Every time I come to China, Weixin has new features,” Nishikawa said at the 2023 Future Close-Up Forum in Beijing on June 20. In his eyes, the continuous upgrading of the app mirrors the ever-swifter progress of China’s digitalization process.

At present, Weixin has become a multifunctional mobile application involving instant messaging, social media and mobile payment. Most people living in China use the app, together with other digital tools such as instant food delivery service apps, and Didi Chuxing (China’s Uber equivalent), to meet their daily needs.

China is a country where with just a smartphone in your hand, you can do everything,” Zhang Weiwei, Director of the China Institute at Shanghai’s Fudan University, told the forum. As a result, “Most people here haven’t had a physical wallet on them for five or six years,” he added.

Patrick Jack Robertson from Britain, CEO of Smart Air, a Beijing-based social enterprise tackling air pollution, echoed Zhang’s remarks. Ten years ago, when the Brit first set foot on Chinese soil, he still needed to use cash and had to stand in line at the train station for an hour just to get a ticket. Today, he buys a digital ticket online and takes his passport to check in at the station.

“What impressed me most is how convenient technology is to use here in China,” Luis Filipe de Souza Porto, a young 2023 Future Close-Up participant and a researcher of international relations at the Federal University of ABC in Brazil, told Beijing Review.

Digital economy

The closing forum of the program released a report on China and the world’s digital economy titled Global Youth Wisdom: Digital Economy Makes the World a Better Place. The report was based on in-depth interviews with about 100 Gen Zs from different countries on their lifestyles and digital preferences.

China has the world’s second largest digital economy in terms of value, the report read. In 2021, the combined value of the digital economy in 47 major countries accounted for 45 percent of their GDP, while last year, China’s digital economy accounted for 41 percent of the country’s GDP.

Ninety-five percent of surveyed Gen Zs said they engaged in digital activities every day and were fully aware of the enormous impact the digital economy has on people’s lives. Gen Zs “have a clear and dialectical understanding of the digital economy,” according to the report. They have a deep sense of the positive impact of the digital economy on personal life, global economic development and social progress, believe that the digital economy makes the world better, and are fully confident in the future development of the digital economy, the document further read.

Zhang Jun, General Manager of Tencent’s Marketing and Public Relations Department, said at the forum that through the Future Close-Up Program, Chinese and foreign youth came to realize they actually have a lot in common: their expectations for digital technology by large are high, and they brim with curiosity as well as a desire to uncover and understand the future.

Connecting

The participants, many of whom are social media influencers, shared their stories and experiences during the tour. Take Rida Hameed, a reporter for Pakistan’s K21 News, for example. Hameed shared a short video about her journey on Instagram which gained some 10,000 likes in a matter of minutes.

Long international flights and a packed schedule didn’t dampen participants’ enthusiasm. “I would like to learn more about the Chinese business landscape, meet like-minded businesspeople, explore ways to work with Chinese organizations and discover market trends in China,” Latvian Arthur Gopak, CEO and co-founder of AlphaGamma, a business portal for young professionals, told Beijing Review.

Igor Alexander Bello Tasic, founder and CEO of Meta Ventures, told Beijing Review that his company is a metaverse and technology research and development consulting firm based in Spain. During the tour, he said that this marked his very first visit to China, something he’d been looking forward to for years, and he joined the tour to gain a better grasp of how other young participants envision the future and how they might be able to work together to turn that vision into reality.

“As an entrepreneur, I hope to establish valuable business connections and understand China’s digital economy so that I can strive to promote the same in my country,” Jibran Ali Khan, CEO of JAK Education and Innovation Consultancy and Media Brick in Pakistan, told Beijing Review soon after his arrival in Shenzhen. Ali Khan, too, was a first-time China traveler and could hardly contain his excitement.

The trip did not disappoint. During their two-day stay in Shenzhen, they visited companies such as Tencent, Honor, a leading global provider of smart devices, and Ping An, one of China’s largest integrated financial groups. They had extensive in-person interactions with these companies’ employees to learn more about their latest tech endeavors. At the closing forum in Beijing, the program’s participants got the chance to talk with experts and other high-caliber young professionals to forge more new and interesting connections.

“Because of COVID-19, we lost the communication channels with overseas talents and high-caliber professionals and we must now reconnect to hear each other’s opinions,” Zhu Yuting, a participant of the program and an assistant professor of marketing at the National University of Singapore, told Beijing Review.

Li Yafang, President of the CICG Center for Americas, said in her speech at the forum that during this journey exploring China’s thriving tech industry, all young attendees had experienced and witnessed the development of China’s society, economy, technology and culture, while, at the same time, forging new bonds with people from different countries. “Every Chinese person you meet is a witness and participant in the development of contemporary China; their stories are a microcosm of the country’s development story in the new era,” she said.

Li said that as an “experienced youth,” she very much enjoys communication and interaction with young people, as well as looks forward to Chinese and foreign youths providing fresh perspectives on China and injecting new energy into the promotion of exchanges between China and other countries around the globe.

Participants shared their understanding about the country during their journey into its digital domain.

With the digital technologies, we are able to navigate both Beijing’s past and present, Tasic said after wrapping up the “digital day tour” of the capital city on June 17.

As China’s digital development is rapidly advancing, it’s important to assess how the use of artificial intelligence, the metaverse, virtual reality, etc. will affect people’s lives in the future. China is standing at the forefront of all these aspects and the lessons from China can be useful for emerging markets, Nishikawa said.

“As a Chinese citizen, I am proud of the developments in China’s digital economy over the past decade. I do feel that my life is becoming easier and easier thanks to technology,” Zhu said.

The 2023 Future Close-Up Program was only “the first step in a long journey,” Zhang Jun said. He believed that, in the future, we will all team up to build more bridges and platforms for communication, mutual trust and learning, and create more opportunities for everyone to communicate with each other.

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EPC Power Announces Sale to Flex for $4.4 Billion

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EPC Power’s Intelligent Power Conversion Solutions Directly Address the Fundamental Challenges of an Aging U.S. Power Grid Supporting the Energy Demand Supercycle and the AI Era

POWAY, Calif., Sept. 3, 2026 /PRNewswire/ — EPC Power Corp. (“EPC Power”), a leading North American designer and manufacturer of high-performance, software-defined power conversion solutions for data centers, utility-scale energy storage, and microgrids, today announced it has entered into a definitive agreement to be acquired by Flex (NASDAQ: FLEX) for $4.4 billion. The transaction is subject to customary closing conditions, including the receipt of required regulatory approvals, and is expected to close in the fourth quarter of 2026. Building on the two companies’ existing collaboration, EPC Power will become, upon closing, a business within Flex’s Cloud and Power Infrastructure segment.

The transaction brings EPC Power’s differentiated power conversion technology platform to Flex’s broad portfolio of power and thermal management technologies for mission-critical applications. EPC Power’s next-generation 800-volt data center power architectures, including digital rectifiers and solid-state transformers, enable more efficient power delivery for higher-density AI infrastructure and extend leadership with Flex into an integrated grid-to-chip portfolio. The combined company is positioned to help solve one of the most pressing challenges facing the technology and energy industries today: delivering the fast, resilient and secure power that AI data centers need while supporting stable grid operations amid a generational surge in power demand.

“What we accomplished over the last four years demonstrates the power of strong partnerships and a shared commitment to innovation. Together with Goldman Sachs Alternatives and Cleanhill Partners, EPC Power emerged as a U.S. technology leader in power conversion solutions that enable the next generation of data centers, AI computing, and grid modernization. We expanded our domestic manufacturing footprint nearly tenfold, strengthening America’s industrial base and reinforcing the critical role of U.S. innovation in powering the future economy. This is only the beginning of what EPC Power can accomplish,” said Jim Fusaro, Chief Executive Officer of EPC Power.

“This is a landmark moment for EPC Power and every colleague who helped build this company. When we founded EPC Power, we set out to solve the hardest problems in power electronics, and our partnership with Goldman Sachs Alternatives and Cleanhill Partners enabled us to solve those problems for mission-critical infrastructure globally,” added Devin Dilley, Co-Founder, President and Chief Innovation Officer of EPC Power.

Solving the Binding Constraint on AI Infrastructure

Power availability has become the gating factor for data center growth. As AI workloads drive unprecedented increases in power density, resilience and control requirements, operators must address speed-to-power and load volatility, where the rapid, large-swing power draw of AI training and inference clusters can destabilize the local grid.

EPC Power’s technology is purpose-built for these conditions. The company’s solutions, including its Agile Grid Forming™ technology, deliver performance and reliability that enables on-site energy storage, microgrid and grid-support configurations for data centers, which allow operators to energize capacity faster and ride through grid instability. Grid operators and utilities benefit from stronger reliability and power quality across their networks.

“We are immensely proud of our partnership with Jim, Devin and the EPC Power team that saw the company launch new product platforms, increase domestic U.S. manufacturing and partner with customers to solve novel challenges in AI power architecture. EPC Power plays a critical role in supporting grid reliability and speed to power during a period of growing concerns around energy security. We wish Flex and the EPC team continued success during their stage of growth,” said Alexander Mass, Global Co-Head of Energy Transition Investing within Private Equity at Goldman Sachs Alternatives.

“As grid resilience and data center power demand have converged into one of the defining challenges of the next decade, it has been a privilege to support EPC Power’s operational and commercial scale-up into a global platform positioned at the center of those megatrends,” added Eddie Sigman, Investor within Private Equity at Goldman Sachs Alternatives.

“We first invested in EPC Power in 2021 because we believed power conversion would become a critical enabling technology as renewable generation, grid modernization and digital infrastructure converged. That conviction came well before the extraordinary growth in power demand driven by AI. Since then, we have had the privilege of working closely with Jim, Devin and the EPC team as the company grew, expanded its U.S. manufacturing footprint and created high-quality jobs in the U.S. We are proud to have supported EPC from an early stage and, in its next phase, alongside Goldman Sachs Alternatives as the business entered a new period of growth. Seeing what the team has built over the past five years has been incredibly rewarding, and we believe Flex is the right partner for EPC’s next chapter,” said Ash Upadhyaya and Rakesh Wilson, Managing Partners at Cleanhill Partners.

Goldman Sachs & Co. LLC. and J.P. Morgan Securities LLC served as financial advisors, and Vinson & Elkins LLP served as legal counsel, to EPC Power and its controlling shareholders Goldman Sachs Alternatives and Cleanhill Partners.

About EPC Power

EPC Power Corp. (EPC Power) is a power solutions platform that develops high-performance power conversion systems for mission-critical applications, including data centers, utility-scale energy storage, and microgrids. EPC Power’s solutions are designed to deliver reliable, resilient, and secure energy for demanding applications, including AI-driven workloads and grid stability use cases supported by EPC Power’s Agile Grid Forming™ technology. Visit EPCPower.com for more information.

About Flex

Flex (Reg. No. 199002645H) is the manufacturing partner of choice that helps leading brands design, build, and manage products that improve the world. With a global footprint spanning 30 countries, Flex delivers advanced manufacturing and supply chain solutions, innovative products and technology, and lifecycle services that support customers from concept to scale. In the AI era, Flex is helping customers accelerate data center deployment by solving power, heat, and scale challenges through cutting-edge power and cooling technology and scalable IT infrastructure solutions. For information about Flex’s intent to spin off its Cloud and Power Infrastructure portfolio, visit: https://flex.com/transaction-resources 

About Private Equity at Goldman Sachs Alternatives

Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $706 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, venture capital, private credit, real estate, infrastructure, sustainability, and hedge funds. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs.

The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets.

The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has more than $4.0 trillion in assets under supervision globally as of June 30, 2026.

Established in 1986, Private Equity at Goldman Sachs Alternatives has invested over $75 billion since inception. The business combines a global network of relationships, unique insight across markets, industries and regions, and the worldwide resources of Goldman Sachs to build businesses and accelerate value creation across its portfolios.

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About Cleanhill Partners

Cleanhill Partners is a private equity firm focused on energy transition and digital infrastructure. The firm invests in companies across power generation, energy storage, grid modernization, domestic manufacturing and related technologies that support the growing demand for reliable power.

Cleanhill works closely with management teams to help companies scale and build long-term value. The firm is led by investors and operators with more than two decades of experience across. For more information, visit www.cleanhillpartners.com.

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SOURCE EPC Power

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VeriPark selected by Queensland Country Bank to support major technology transformation

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LONDON, Sept. 4, 2026 /PRNewswire/ — VeriPark, a global financial services technology provider, announced that Queensland Country Bank has selected its customer experience solutions as part of a major transformation program designed to deliver more connected, and member-focused banking experiences.

Queensland Country Bank will implement VeriPark’s VeriChannel digital banking platform, VeriTouch CRM platform and VeriLoan loan origination system. Together, the solutions will support digital banking, onboarding, lending and customer engagement across digital and assisted channels.

The broader transformation also includes Fiserv’s Finxact core banking platform and Vision Next card management solution. By bringing these technologies together, Queensland Country Bank is creating a future-ready environment spanning core banking, cards, lending, customer relationship management and digital channels.

The program will help the bank progressively modernize its platforms, reduce technology complexity and create more integrated experiences across member touchpoints, while preserving its community and member-owned focus.

“This is an important step in the next chapter of Queensland Country Bank,” said Shawn Anderson, Chief Transformation Officer of Queensland Country Bank. “Our Members expect banking to be simple, reliable and personal. By partnering with Fiserv and VeriPark, we are investing in the foundations that will help us deliver better experiences, support our people and continue serving Queensland communities well into the future.”

“We are proud to partner with Queensland Country Bank as it builds the foundations for its next generation of Member experiences,” said David Dervish, Chief Revenue Officer at VeriPark. “By connecting digital banking, lending and customer engagement, our platform will help the bank deliver more personalised and seamless journeys while giving its teams a more unified view of every Member. We look forward to turning this transformation vision into tangible value for Members and employees.”

QCB (www.queenslandcountry.bank)
Queensland Country Bank is a member-owned bank committed to helping Queenslanders live better lives through better financial wellbeing achieved through personal service, local understanding and community-focused banking. With roots across regional Queensland, the bank provides a range of banking products and services for Members across the state.

VeriPark (veripark.com) 
VeriPark is a global solutions provider enabling financial institutions to become digital leaders by placing Customer Experience at the core of digital transformation. From Omnichannel Delivery and Customer Engagement to Branch Automation and Loan Origination, VeriPark helps financial institutions accelerate digital transformation, increase productivity, and achieve tangible business outcomes.

 

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Intouch Insight to Unveil Annual Drive-Thru Study at QSR Evolution Conference

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Intouch Insight (INX: CA) to reveal the results of its annual Drive-Thru Study during the main stage session at the QSR Evolution Conference in AtlantaMain stage reveal to be delivered by VP Sales, Marketing & Product Strategy Sarah Beckett and Chief Revenue Officer Laura Livers on Thursday, September 10, 2026, ahead of the day’s keynoteBeckett and Livers will also moderate a panel of quick service restaurant operators on the technologies shaping the drive-thru of the future

OTTAWA, ON, Sept. 3, 2026 /CNW/ — Intouch Insight Ltd. (OTCQX: INXSF) (“Intouch” or the “Company”), a provider of customer experience measurement solutions, today announced that it will present the findings of its annual Drive-Thru Study on the main stage at the QSR Evolution Conference, taking place September 8-10, 2026, at the Hyatt Regency Atlanta. This marks the fourth consecutive year Intouch has partnered with QSR Magazine and Arrowfly, formerly WTWH Media, to bring the study’s results to the conference stage.

The main stage session, “Intouch Insight Drive-Thru Report Reveal,” is scheduled for Thursday, September 10, 2026, at 8:45 a.m. Eastern Time, immediately ahead of the day’s keynote. Sarah Beckett, VP Sales,Marketing & Product Strategy, and Laura Livers, Chief Revenue Officer, will give attendees an early, exclusive look at the fastest, most accurate, and best customer service drive-thrus in America.

Beckett and Livers will also moderate a panel session, “Unveiling the Drive-Thru of the Future,” which goes deeper into the technologies and innovations separating winning brands, and what it takes to run a modern drive-thru that delivers consistency and experience at scale. Panelists include Taylor Crookston-Grace, Director, Brand Standard, BK US&C Operations; Michael MacLennan, Cofounder and Co-CEO, Tryarc; Chris Cheek, Chief Development Officer, Newk’s Eatery; Trace Miller, Founder & CEO, Konala; and Tim Sharpe, COO, Oliver’s Real Food.

Now in its fourth year, the QSR Evolution Conference brings together senior leaders from across the quick service restaurant industry for practitioner-led sessions on operations, technology, and customer experience. Intouch’s participation on the main stage reflects its continued work in customer experience measurement and operational audits for restaurant operators and other multi-location brands.

Cameron Watt, President and Chief Executive Officer of Intouch Insight, said:

“The drive-thru study has become one of the most anticipated benchmarks in the industry, and the main stage at QSR Evolution is the right place to reveal it. Our research shows where brands are winning on speed, accuracy, and service, and where the gaps still are. We are looking forward to putting that data in front of the operators who can act on it, and to a fourth year of partnering with QSR Magazine and Arrowfly to make it happen.”

About Intouch Insight

Intouch Insight offers a complete portfolio of customer experience management (CEM) products and services that help global brands delight their customers, strengthen brand reputation and improve financial performance. Intouch helps clients collect and centralize data from multiple customer touch points, gives them actionable, real-time insights, and provides them with the tools to continuously improve customer experience. Founded in 1992, Intouch is trusted by over 300 of North America’s most-loved brands for their customer experience management, customer survey, mystery shopping, mobile forms, operational and compliance audits, geolocation data capture and event marketing automation solutions. For more information, visit intouchinsight.com.

Certain statements included in this news release including those related to the Company’s quarterly results, future products, opportunities and cost initiatives, strategies, and other statements that are predictive in nature that depend upon or refer to future events or conditions, or that include words such as “expects”, “anticipates”, “intends”, “plans”, “believes”, “estimates”, or similar expressions, are forward-looking statements within the meaning of applicable Canadian securities laws. Forward-looking statements that are made as of the date hereof, which by their nature are necessarily subject to risks and uncertainties and other factors that may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such statements reflect the Company’s current views with respect to future events, and are based on information currently available to the Company and on hypotheses which it considers to be reasonable; however, management cautions the reader that hypotheses relative to future events which are beyond the control of management could prove to be false, given that they are subject to certain risks and uncertainties. Please refer to the risks set forth in the Company’s most recent annual MD&A and the Company’s continuous disclosure documents that can be found on SEDAR+ at www.sedarplus.ca. The Company does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

SOURCE Intouch Insight Ltd.

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