Technology

CGTN: China’s economy shows vitality with innovative growth, booming market

Published

3 years ago

February 25, 2024

BEIJING, Feb. 25, 2024 /CNW/ — China’s provincial-level regions have set their economic growth targets for 2024, with figures ranging from 4.5 to 8 percent. Among them, over 20 regions are aiming to exceed 5 percent GDP growth.

Notably, these provinces share key priorities such as “new productive forces,” “boosting consumption” and “improving the business environment”.

The concept of “new productive forces” refers to a new form of productive forces, derived from continuous science and technology breakthroughs and innovation, that propel strategic emerging industries and future industries in an increasingly intelligent and information era.

Provinces have identified specific sectors to anchor new productive forces, including bio-manufacturing, the low-altitude economy, and emerging areas such as quantum technology and life sciences.

Efforts to integrate data with practical applications are also being made to bolster the digital economy. Zhejiang Province, for instance, is targeting a 9 percent increase in the added value of its core digital industries, and is seeking to ensure that 85 percent of major enterprises undergo digital transformation.

Likewise, several western inland provinces are looking to capitalize on their advantages in computing power to further industry digitization. For example, the Ningxia Hui Autonomous Region aims to intelligently upgrade traditional industries and empower small- and medium-sized enterprises digitally, aspiring for the digital economy to comprise over 36 percent of its regional GDP.

Additionally, fostering the development of the private sector has become a key focus. Several provinces plan to leverage financial policies to support private enterprises in major tech innovations, encourage their participation in key scientific projects, and direct private investment towards infrastructure.

This year, Jiangsu plans to roll out specialized policies to stimulate private investment, while Guangxi is set to guide financial institutions to enhance support for first-time credit loans to private businesses. Also, Hainan will create a fund pool to assist companies with good credit but temporary financial difficulties.

Meanwhile, provinces and municipalities like Jiangxi, Liaoning, Chongqing and Shanxi are improving their regulatory frameworks to protect investment rights. They aim to eliminate indirect barriers to market entry, ensuring a level playing field for businesses of all types.

Drawn by the improving and welcoming business environment, along with the vast consumer market, foreign-funded enterprises are confident in their long-term investment prospects in China.

Major multinational corporations from various sectors, including KFC and Standard Chartered, have recently boosted their investments in China. The country continues to be a prime investment destination due to offering promising innovation opportunities, comprehensive industrial support and creating a conducive business environment.

In 2023, German direct investment in China increased by 4.3 percent, reaching a record high of 11.9 billion euros ($12.7 billion), according to official Bundesbank data analyzed by the IW institute. Additionally, China’s share of Germany’s total overseas investments climbed to 10.3 percent last year, marking the highest level since 2014.

Booming consumer market

Since 2023, China’s consumer market has shown a robust recovery. Last year, total retail sales of consumer goods reached 47.15 trillion yuan (about 6.63 trillion U.S. dollars), up 7.2 percent from the previous year, according to the National Bureau of Statistics. Online retail sales saw an 11 percent increase, with physical goods’ online sales constituting 27.6 percent of the total retail sales.

The rise of new consumer models, such as e-commerce, has expanded the range of sales channels available in the consumer market, offering users a more varied experience, observed Pan Helin, a researcher at Zhejiang University.

The revitalization of the consumer market has also been reflected in the travel sector. During this year’s Spring Festival holiday, there was a high level of enthusiasm for travel. Data shows that the number of visitors to major cultural and tourism sites nationwide reached 123 million, marking a 22.8 percent increase compared with the same period in 2023.

The increased travel and cultural activities during the Spring Festival also fueled an uptick in entertainment spending, especially in the film industry. As of 1:15 p.m. Friday, box office revenue in China from the Spring Festival holiday (including pre-sale) has surpassed 7 billion yuan (approximately $983.3 million), according to Dengta Pro, the data analysis arm of China’s leading film-ticketing platform Taopiaopiao.

Pan noted that the increasing consumer demand for a higher quality of life and richer experiences signifies a shift in consumption patterns. This trend, coupled with a growing enthusiasm for shopping and leisure activities, indicates a steady recovery in China’s consumer market.

https://news.cgtn.com/news/2024-02-16/China-s-economy-shows-vitality-with-innovative-growth-booming-market-1rfaQqARiCI/p.html

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SOURCE CGTN

Technology

DBS named World’s Best Digital Bank

Published

7 minutes ago

October 30, 2026

First time DBS has clinched Global Finance’s top digital banking accolade

SINGAPORE, Oct. 30, 2026 /PRNewswire/ — DBS today announced that it has been named World’s Best Digital Bank 2026 by Global Finance, becoming the first Asia-headquartered bank to receive the publication’s top global digital banking accolade in the programme’s 27-year history. The recognition underscores DBS’ continued leadership in digital banking and its focus on harnessing technology and innovation to deliver seamless and meaningful experiences for its customers.

DBS also retained its title as the World’s Best Corporate/ Institutional Digital Bank for the third consecutive year, alongside other global accolades spanning digital assets, digital payments, digital advisory, consumer banking and thought leadership. At the same awards ceremony held in Singapore, DBS was also awarded the World’s Best Bank for AI in Finance – Corporate for the second consecutive year and secured the global win for Best AI in Fraud Detection/ Prevention – Corporate/ Institutional AI Bank.

“DBS continues to lead the global banking industry by marrying digital ecosystem strength with sophisticated artificial intelligence. In naming DBS the World’s Best Digital Bank, Global Finance recognises its end-to-end digital transformation, superior digital infrastructure and ability to turn complex digital ecosystems into frictionless customer journeys. Its recognition as the World’s Best Bank for AI in Finance – Corporate further underscores DBS’ market leadership in embedding enterprise-grade artificial intelligence and predictive analytics across its business,” said Joseph Giarraputo, Founder & Editorial Director of Global Finance.

Tan Su Shan, CEO of DBS, said: “We are honoured to be recognised as the World’s Best Digital Bank and World’s Best Bank for AI in Finance – Corporate by Global Finance. These recognitions are a testament to the strides we have made in harnessing technology and AI, bringing together the strengths of our people and technology at scale. As we advance our ambition of being an AI-enabled Bank with a Heart, we will continue to build our capabilities with a clear purpose: to create better, more trusted experiences for our customers.”

These awards build on DBS’ longstanding track record of global recognition for its digital banking capabilities. Most recently, the bank was this year named the World’s Best for Digital Assets at the Euromoney Private Banking Awards and the global winner of the Digital Assets category at The Banker Technology Awards. In 2025, DBS was named the inaugural World’s Best AI Bank by Global Finance, underscoring the bank’s continued leadership across digital banking and emerging technologies.

About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank’s “AA-” and “Aa1” credit ratings are among the highest in the world.

Recognised for its global leadership, DBS has been named “World’s Best Bank” by Global Finance, “World’s Best Bank” by Euromoney and “Global Bank of the Year” by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named “World’s Best AI Bank” by Global Finance as well as the winner of multiple digital assets awards. In addition, DBS has been accorded the “Safest Bank in Asia” award by Global Finance for 18 consecutive years from 2009 to 2026.

DBS provides a full range of services in consumer, Wealth, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.

DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by uplifting lives and livelihoods of those in need. It provides essential needs to the underprivileged, and fosters inclusion by equipping the underserved with financial and digital literacy skills. It also nurtures innovative social enterprises that create positive impact.

With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit www.dbs.com.

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Technology

Huawei Releases Industry O&M Solutions

Published

7 minutes ago

October 30, 2026

—Agentic AI Redefining the New O&M Paradigm

SHANGHAI, Oct. 30, 2026 /PRNewswire/ — The Industry O&M Session of HUAWEI CONNECT 2026 was held at the Shanghai Expo Center under the theme “Agentic AI Redefining the New O&M Paradigm.” At the event, Huawei released its latest 2026 industry O&M solutions and launched the initiative for developing the O&M Agent Research Report (2026), aiming to accelerate digital and intelligent O&M transformation, foster ecosystem co-construction, and drive high-quality industry development.

MindOps Platform Upgrade and New Industry O&M Solutions

Leveraging digital twins and the domain-specific model, Huawei has built full-cycle O&M capabilities spanning pre-event, in-process, and post-event stages through human–agent collaboration. Four enhanced solutions were introduced to help enterprises strengthen business assurance and boost operational efficiency.

Based on the MindOps platform, Huawei officially released a suite of industry O&M solutions: Smart NOS 5.0, Exclusive Government Service 3.0, Power Specific Service 3.0, and Transportation Specific Service 3.0.

Smart NOS 5.0: Built on the domain-specific O&M model, this solution enhances network emergency repair with risk identification and fault governance agents. Knowledge extraction and service-aware troubleshooting agents autonomously resolve 80% of deterministic faults. The financial fault diagnosis operational room facilitates collaborative consultation, cutting incident rates from hidden risks by 50% and improving cross-domain fault demarcation efficiency by 30%.

Exclusive Government Service 3.0: Designed to tackle e-Government cloud challenges such as limited service awareness, complex cross-layer troubleshooting, and underutilized resources, this solution upgrades AI-assisted integrated O&M capabilities. Intelligent resource query and emergency troubleshooting agents increase resource visibility and fault locating efficiency, while the unified digital resource management platform streamlines approval workflows and duplicate project checks, raising resource usage by 17%.

Power Specific Service 3.0 and Transportation Specific Service 3.0: Fault diagnosis and FME Mate agents are integrated into MindOps. The power solution strengthens risk prevention and intelligent troubleshooting, reducing fault demarcation time from one hour to just 15 minutes. Meanwhile, the transportation solution enhances cross-domain fault analysis to boost O&M efficiency by 40%, while integrated O&M services further improve the availability and operational efficiency of smart highway systems.

Looking ahead, Huawei will remain committed to its customer-centric approach, working closely with industry customers and partners to continuously innovate ICT O&M services, deepen scenario-specific applications, and build a robust ecosystem that underpins digital and intelligent transformation across all sectors.

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SOURCE Huawei

Technology

Tongwei’s 500 W TNC 2.0 FULLX: More Power, More Value for Australian Rooftops

Published

7 minutes ago

October 30, 2026

MELBOURNE, Australia, Oct. 29, 2026 /PRNewswire/ — Tongwei Solar has introduced a new 500 W configuration of its TNC 2.0 FULLX G12R-48 for the Australian market. Delivering up to 25.02% efficiency in a compact 1,762 × 1,134 × 30 mm format, the module combines high power output, strong energy generation and installation flexibility. Zander Yuan, Director of Product & Technology at Tongwei Solar, explains how the new configuration brings greater value to Australian homeowners.

What makes the TNC 2.0 FULLX G12R-48 particularly suited to Australian rooftops?

Australian homes often have limited usable roof space, with different roof shapes, orientations and installation requirements. Getting more power from each module can make a real difference.

Our new 500 W configuration delivers 25.02% efficiency, providing 25 W more power than a conventional 475 W TOPCon reference module of a comparable format. This allows homeowners to install more capacity without increasing the number of panels.

For example, a 14-module rooftop system using TNC 2.0 FULLX reaches 7 kW, compared with 6.65 kW using 475 W modules. That’s an additional 350 W from the same number of panels, making better use of available roof space.

Beyond higher power output, what financial benefits does the module offer Australian homeowners?

In Australia, higher system capacity can also mean greater upfront savings through the Small-scale Renewable Energy Scheme (SRES), which provides incentives for eligible rooftop solar installations.

For a typical 14-module system, the 500 W TNC configuration could provide approximately AUD 80–120 in additional upfront STC incentives compared with conventional 475 W TOPCon modules, based on Tongwei’s 2026 calculations. This estimate assumes a stable STC price and standard zone eligibility. The exact benefit depends on the installation location, eligibility and certificate prices.

And the benefits don’t stop at installation. Higher installed capacity, combined with strong energy-generation performance, can help homeowners get more electricity from their rooftops over time, improving the overall value of their solar investment.

How does TNC technology help deliver more energy under real-world conditions?

A module’s rated power is only part of the story. What matters just as much is how efficiently it uses available sunlight throughout the day.

Our TNC technology features lower leakage current and enhanced low-light performance, helping maintain energy generation during early morning, late afternoon and other periods of weaker sunlight.

Field testing at Tongwei’s Yancheng Test Base showed an average 3.3% higher per-watt energy yield compared with the tested copper-plated back-contact (BC) reference modules, with gains reaching up to 12.32% during low-light periods.

This means the technology can make more effective use of available sunlight, supporting higher energy generation even when conditions are less than ideal.

How does the module balance performance, appearance and long-term reliability?

Australian rooftops vary widely in size, orientation and design. Our compact 48-cell format offers flexibility for different residential installations, while strong low-light performance helps maintain energy generation under changing sunlight conditions.

Appearance matters too. TNC 2.0 FULLX G12R-48 is available in Full Black and Black Frame designs, giving homeowners options to suit different architectural styles. Its zero-cell-gap layout and concealed current-collection features create a clean, uniform appearance.

The module also features dual-glass construction and protective sealing designed to support long-term reliability in outdoor environments.

Ultimately, our goal is to help Australian homeowners get more from every rooftop, combining higher power output, strong energy performance and greater long-term value.

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SOURCE Tongwei Solar