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Digital Twins: A New Model for Urban Governance

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BEIJING, March 6, 2024 /PRNewswire/ – By China Report ASEAN

A vivid three-dimensional rendering of a bridge appeared on the intelligent monitor and evaluation platform at Beijing Yunlu Technology Co., Ltd., pointing to key factors of bridge health. Real-time status, events, transportation navigation, and traffic conditions were all tracked on the screen.

Numerous sensors installed on bridge track every minor dynamic change on the bridge surface and perform digital analysis, according to Gao Fengyong, a regional chief with the tech firm. When a large vehicle approaches, the system checks its weight and produces an early warning if the vehicle and its load is heavier than the bridge was designed to support. The vehicle is then immediately intercepted from crossing the bridge as an emergency response. The screen of the monitor platform shows a digital twin replica of the bridge.

A key method to realize bidirectional mapping and dynamic interaction between virtual and reality, the digital twin (DT) technology provides another effective approach for observing, understanding, controlling, and transforming the physical world. It was originally designed to improve local public services, but has since been more widely used to develop tailored applications for different scenarios involving urban planning and management, demonstrating enormous potential for solving problems in urban governance.

Lifecycle Management

A digital twin is a digital representation of a physical object, person, or system powered by utilizing physical models, sensor updates, operating history, and other data, which reflects the whole life cycle of the corresponding physical entities in the virtual space.

The earliest application of DT technology was in the 1970s when NASA engineers used simulations of a space vehicle to monitor and predict the performance of the real vehicle and assist ground command to make the best decisions to ensure safe flight and prolonged operational life of the vehicle. In 2003, Professor Michael Grieves at the University of Michigan first introduced the concept of DT by proposing an “Information Mirroring Model,” a vision in the context of product lifecycle management consisting of three components: real space, virtual space, and data flow connection between the two. Since then, DT technology has been developed and applied in aerospace, industrial manufacturing, and other fields.

“Simply put, a digital twin is a virtual replica of a physical entity,” said Yang Tao, an associate professor at the School of Architecture at Tsinghua University. “Supported by constantly-updated algorithms using real-time information from the virtual model synchronized with the corresponding physical system, more accurate predictions and decisions can be delivered for future operation and improvement of the physical entity.”

DT technology covers every link of the entire product life cycle from design to development, manufacturing, maintenance, and even recycling, enabling product information to remain consistent even when changes occur in any of the links. Not only can it help companies develop better products, it can also help users use the product in an optimal way.

In recent years, the rise of the meta-universe and emergence of the Internet of Things, cloud computing, and artificial intelligence (AI) have fueled the DT market, with the technology widely available in areas such as urban management, industrial manufacturing, water conservancy, and security and emergency response.

Statistics from the China Academy of Information and Communications Technology (CAICT) showed that the global digital twin market size was valued at US$7.7 billion in 2022, year-on-year growth of 57.1 percent, and is expected to reach US$30.5 billion by 2025. The figure in China was 10.4 billion yuan (US$1.45 billion) in 2022, year-on-year growth of 35 percent, and is poised to soar to 37.5 billion yuan (US$5.2 billion) by 2025.

More and more businesses, investors, and governmental agencies are considering how to leverage the emerging technology to address public service challenges and improve urban governance. Qiu Baoxing, IEAS (International Eurasian Academy of Sciences) Academician and former vice minister of China’s Ministry of Housing and Urban-Rural Development, remarked at the 12th World Geospatial Developers Conference (WGDC 2023) that the explosion of the meta-universe in 2022 propelled the transition of DT from local adoption to applications in urban scenarios.

Also at WGDC 2023, Li Deren, an academician with the Chinese Academy of Sciences and the Chinese Academy of Engineering and a professor at Wuhan University, said that compared to the product life cycle in industrial manufacturing, a digital city has an extended and more beneficial life cycle thanks to its deep learning capabilities, virtual-reality integration, and iterative evolution. The pinnacle of digital city development is smart cities based on digital twins, he asserted.

Virtual-Reality Mapping to Virtual-Reality Linkage

China first introduced the concept of a “digital twin city” in 2018 when a master plan for the development of Xiongan New Area was formulated that required synchronized planning and construction of both a digital and physical New Area with an aim for a world-class digital city with deep learning capabilities.

As project leader for Xiongan digital planning and construction based on City Information Modelling (CIM), Yang Tao considers the project an unprecedented challenge that requires trial and error. Unlike conventional model and experience-based plans, he explained, this project focuses on tackling urban issues such as urban planning, energy consumption management, waste treatment, and traffic congestion by recording and monitoring the whole process of construction of Xiongan New Area.

In transportation construction, for example, they established the world’s first large-scale regional-level digital road network to simulate real-world scenarios. The project can collect all kinds of data on the roads including pedestrians, vehicles, traffic lights, buildings, weather, and environment and detect traffic status under all kinds of weather conditions around the clock, thus providing diverse services for businesses, the government, and the public such as road operation and maintenance, emergency management, and autonomous driving tests.

Xiongan New Area’s CIM platform set the standard for subsequent digital twin city planning and construction in other parts of the country. In 2022, China rolled out a plan to facilitate development of the digital economy in the 14th Five-Year Plan period (2021-2025), calling for building digital twin cities with well-established city information modeling platforms and improved operation and management service platforms. To this end, the Ministry of Housing and Urban-Rural Development, the Ministry of Housing and Construction, the Ministry of Natural Resources, the Ministry of Water Resources, and other relevant authorities have scaled up policy support for digital twin technology development, talent, and application to promote the construction of digital twin cities.

CAICT counted 30 new enterprises involved in digital twin city construction in China every year before 2014 and between 50 and 60 from 2015 to 2018, but the number skyrocketed to over 100 from 2019 to 2021, suggesting a continuously growing market with huge potential.

DT technology is more than simply digitalizing and visualizing physical assets. The core goal is to convert data resources into data capital by linking the virtual and physical worlds while optimizing the parameters and sharing information with all parties involved in the interaction process, Yang Tao illustrated.

According to Gao Fengyong, the digital urban flood forecasting platform developed by Yunlu Technology achieved near real-time simulation of the urban flood process involving rainfall, ground water accumulation, and pipeline drainage, allowing it to provide decision-making support and flood prevention and response guidance for government authorities through simulated pre-flood analysis, real-time early warning, and post-flood summary and analysis. Last summer, the platform had already contributed to flood control in Beijing, Ningbo, Jinan, and other cities.

“Alongside visualization and simulation, a digital twin system is also intended to serve the physical entity through a digital replica to enhance the efficiency of physical production,” Gao said. By collecting real-world information on the Internet of Things for the virtual world before analysis and simulation, the system can predict risks and achieve real-time mobilization of resources, offering scientific support for decision-making in a timely manner.

However, excessive pursuit of digital technology and AI could lead to less focus on practical applications, resulting in insufficient integration of business rules and geometric models. “Application matters most, but 80 percent of digital twins are useless,” Qiu Baoxing revealed, noting that for DT technology, application scenarios including smart governance, urban construction management, general urban management, and emergency management are of paramount importance.

Yang Tao echoes that view. “A fancy model does not necessarily work well,” he said. Digital twin cities must be tailored to solve specific problems in different scenarios, he added, and optimization of urban governance cannot rely solely on technological improvements, but requires corresponding changes made in the objects and systems served or affected, so that social and technical systems will interact with each other and evolve together.

Collaborative Governance Model

CAICT’s Digital Twin City Research Report (2022) designated the period 2020-2030 as a stage of fast growth for China’s digital twin industry during which both the DT market and technology are developing in full swing.

However, cities represent a system far more complex than a space vehicle, an industrial product, or a building. They involve social, economic, environmental, and cultural factors as well as many other aspects. Humans are the main component of a city, and their different goals and behaviors can lead to various uncertainties in the process of urban governance. Application scenarios for digital twins are complex, involving multiple factors and requiring multi-sectoral collaboration. Currently, one major challenge faced by all fields is a lack of collaboration among the government, high-tech firms, and relevant entities.

In 2015, Singapore launched the “Virtual Singapore” project to build a 1:1 scale model of 3D Singapore. Alongside improving relevant policies and regulations, the city-state placed an emphasis on enhancing public participation in digital governance, encouraging citizens to transform from consumers of smart city services to creators and contributors. The government rolled out incentives for the market to provide cutting-edge technology, effective productivity, and adequate financial support to inspire all parties to collaborate while enabling their full potential. By embedding technology in policies, products, and services, Singapore’s model of collaborative digital governance reshaped the value chains for the government, businesses, and the public and improved urban governance.

In contrast, DT technology is still in its early stages of development in most other ASEAN countries. According to Shi Le from the International Logistics Division of JD Logistics, ASEAN countries vary in the development of DT technology despite the rising trend of global digitalization as well as strong domestic demand for digital management in each country. Seeking to tackle the issue, the ASEAN Plus Three (APT) Cooperation Work Plan 2023-2027 pledged to “enhance cooperation on smart and sustainable cities development in the region through ASEAN Smart Cities Network (ASCN) and ASEAN Sustainable Urbanisation Strategy (ASUS).”

DT technology represents a new model of development driving profound changes in industries. Yang Tao suggested ASEAN countries enhance collaboration, strengthen top-level design, promote institutional innovation, and gradually integrate digital twins into national overall development by starting from transportation infrastructure, green energy, and integration of industrial and supply chains.

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SOURCE China Report ASEAN

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Manufacturing Category at 139th Canton Fair Presents Smarter, Lighter and More Connected Solutions

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GUANGZHOU, China, April 24, 2026 /PRNewswire/ — At the 139th Canton Fair, Manufacturing category presented a clear view of how industrial equipment is evolving to address efficiency, labor shortages, and sustainability goals. Across power equipment, machinery, automation systems, and industrial robots, exhibitors pointed to a common direction: smarter operation, stronger engineering performance, and deeper integration with digital manufacturing systems.

Industrial equipment is advancing towards intelligence with products emphasizing built-in sensing and automatic adjustment to enhance reliability and efficiency. Silent inverter generators, for example, can detect operating conditions and ambient temperature to regulate cooling for better fuel use and stability. Pumps and cleaning equipment with variable-frequency drives and integrated protection systems follow the same approach, prioritizing smooth operation, longer service life, and consistent output.

Lightweight, high-performance design has also become a priority across categories. Advances in materials and structural engineering are enabling major weight reductions without compromising power or durability. Aluminum-extrusion housings in three-phase asynchronous motors cut weight by up to 40% while improving heat dissipation and installation efficiency. Lightweight permanent-magnet submersible pumps delivered stronger flow stability despite smaller size and reduced weight.

AI-based visual inspection and quality control are also becoming essential. AI-powered optical inspection stations demonstrated full-process, high-speed inspection without relying on manual sampling. By turning experience-based judgment into standardized, repeatable rules, these systems help manufacturers improve scalability and consistency.

Industrial robots are taking on more active roles as well. Security patrol robot dogs and inspection robots are moving beyond monitoring to direct intervention, such as carrying fire-suppression modules for emergency response. This shift marks a broader move from passive observation to active execution in high-risk or labor-intensive environments.

Finally, more industrial devices are being designed as system nodes rather than standalone machines. Intelligent industrial gateways that combine data collection, protocol conversion, edge computing, and secure transmission show how equipment value increasingly depends on its ability to connect with enterprise-level digital systems.

The 139th Canton Fair vividly showcased the accelerated shift of industrial equipment toward intelligent and system-level development.

For pre-registration, please click: https://buyer.cantonfair.org.cn/register/buyer/email?source_type=16

 

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SOURCE Canton Fair

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Zhejiang unicorn ranks grow to 58 as Hangzhou tightens lead, top ranking shows

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Province adds three unicorns, expands high-growth pipeline
Hangzhou accounts for 83% as new entrants and startups scale up

HANGZHOU, China, April 24, 2026 /PRNewswire/ — Zhejiang’s roster of unicorn companies has expanded to 58 as of April 2026, highlighting the province’s growing role as a hub for emerging technologies and industrial upgrading.

The latest rankings, released at the 10th All Blossom Conference in Hangzhou on April 23, show companies spread across seven cities, including Hangzhou, Ningbo, Jiaxing, Jinhua, Shaoxing, Taizhou and Wenzhou.

While Hangzhou, Ningbo and Jiaxing remain the top three hubs, the broader distribution points to a more geographically balanced innovation landscape. The province’s unicorn count rose by three from a year earlier.

Hangzhou continues to dominate the landscape, home to 48 of Zhejiang’s unicorns, up from 44 last year—when it already accounted for roughly four out of every five such startups.

The annual rankings also include tiered lists of “future unicorns,” valued between $100 million and $1 billion, and early-stage “seed unicorns” worth $10 million to $100 million.

Together, they map a full pipeline of high-growth companies across sectors such as artificial intelligence, embodied intelligence, life sciences, new energy, semiconductors, advanced manufacturing and aerospace, and have become a key barometer of Zhejiang’s startup ecosystem.

Among the top 100 future unicorns, integrated circuits lead with 22 companies, followed by artificial intelligence and life sciences with 19 each. Advanced manufacturing accounts for 16 firms, new energy and materials 15, and next-generation information technology nine.

In the seed unicorn category, new energy and life sciences each count 22 companies, ahead of advanced manufacturing with 19, while AI, next-generation IT and semiconductors each have 11 firms, and aerospace-related companies total four.

Against that provincial backdrop, Hangzhou remains the clear center of gravity—continuing to generate both the largest share of unicorns and the deepest pipeline of emerging startups.

The city added eight companies to its unicorn ranks on April 23, bringing the total to 48, according to the same conference ranking.

The new entrants—Hailiang Technology Services, Geener Microelectronics, Spirit AI, Geespace, Sunrise, Seepin, DEEP Robotics and Simplexity Robotics—span sectors from semiconductors and robotics to commercial aerospace.

As of April, Hangzhou accounted for 83% of Zhejiang’s unicorns, up from 80% a year earlier, underscoring its outsized role in the province’s innovation economy.

The conference also released a list of 413 quasi-unicorns—companies typically valued between $100 million and $1 billion—including 50 new additions.

Several firms, such as Diagens Biotechnology, Manycore Tech, Mirxes, Promisemed, Saint Bella, Tide Pharmaceutical, Tongshifu and ISV, exited the list after scaling into unicorn status or completing initial public offerings.

Quasi-unicorns are concentrated in sectors aligned with Hangzhou’s broader “296X” industrial strategy. Life sciences lead with 118 firms, followed by next-generation information technology with 78 and AI and embodied intelligence with 50—together accounting for about 60% of the total.

The “296X” is an industrial cluster blueprint the city introduced in October 2025 in an effort to speed up the integration of technological and industrial innovation.

More than half of both unicorns and quasi-unicorns—255 companies—are classified as nationally recognized “specialized and refined” enterprises, including 20 unicorns and 235 quasi-unicorns, reflecting a structured pipeline of high-growth firms.

Since 2018, Hangzhou’s unicorn count has risen from 26 to 48, while quasi-unicorns have expanded from 105 to 413, underscoring sustained growth in its innovation-driven economy.

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SOURCE All Blossom Conference

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KUN Unveils AI Intelligent Strategy at Money20/20 Asia: Reconstructing Global Commercial Efficiency with “1-1-4-6” Layout

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BANGKOK, April 24, 2026 /PRNewswire/ — At the prestigious Money20/20 Asia held at QSNCC, KUN showcased its upgraded brand identity and launched the “1-1-4-6” Intelligent Strategic Blueprint. This milestone marks KUN’s comprehensive transition toward a globalized, full-stack, and intelligent ecosystem.

Dr. Louis Liu, Founder & Group CEO of KUN, stated at the launch: “While the convergence of Web2 and Web3 defines the current era, we believe the embedded ecosystem synergy of AI and Web3 is the inevitable future of commerce. Our evolution is an intelligent reconstruction of commercial efficiency. By leveraging decades of vertical payment expertise, we provide enterprise clients with full-stack, end-to-end payment and financial solutions. Through digital orchestration and operations, we deliver secure, compliant, and high-velocity transaction safeguards to empower global business growth.”

Money20/20 Roundtable: Compliance as the “Scaling Layer” for Institutional Adoption

At the “Bridging TradFi and DeFi” roundtable, Dr. Liu shared three key insights on the future of cross-border finance:

Asia as the Hub for Real-World Stablecoin Settlement: Asia has emerged as a critical hub for cross-border trade flows and stablecoin settlement, connecting high-growth emerging markets. Currently, 60% of the world’s on-chain stablecoin trade volume is centered in Asia, making it a primary corridor for capital flows between Asia, LATAM, Africa, and the Middle East.

Compliance as the “Scaling Layer”: The bottleneck for scaling digital payments is not technology or licensing, but the ability to embed jurisdictional compliance frameworks into business logic. Integrating AML and risk controls directly into the payment flow is the prerequisite for the explosion of global institutional applications.

Accelerating AI and Web3 Ecosystem Convergence: As AI agents increasingly enter commercial decision-making, payments are shifting from human-controlled to autonomous. Blockchain and stablecoins will serve as the default infrastructure for Agent-to-Agent (A2A) transactions.

Exhibition Interaction: From Platform Governance to Vertical Efficiency

At the main exhibition area, KUN demonstrated its dual-brand synergy through a new visual identity:

KUN: Positioned as the Trusted Vertical Digital Payments Platform for Real Economy, providing one-stop digital payments and scenario-based on-chain financial solutions.

YeeZ: A KUN Group brand specializing in 2B2C Global Corporate Card Issuance for global enterprises.

The “1-1-4-6” Strategic Blueprint: Driving Global Growth

KUN decoded its “1-1-4-6” strategy—an AI-powered blueprint designed for seamless asset mobility. The ecosystem integrates KUN Space™ (the digital payments & financial services platform) with KUN Nexus™ (the AI-orchestrated liquidity network). Driven by four core engines—KUN | Pay, KUN | Cards, KUN | Money, and KUN | Agent—the strategy empowers liquidity for six vertical sectors: Bulk Commodity, General Trade, B2B Cross-border E-Commerce, Service Trade, Web3 Ecosystems, and AI Applications.

Future Vision: The Era of “Driverless” Intelligent Payments

The launch highlighted KUN | Agent as the pioneer of the “driverless” era of intelligent global payments.

KUNClaw.AI: Orchestrates autonomous financial workflows to drive intelligent cost reduction and efficiency.

AI Agent Wallet: Features programmable KYC and authorization fences to ensure secure, compliant execution where “decision is payment”.

Seamless Network, Borderless Payments.

KUN remains dedicated to serving as the engine for the real economy, providing secure, compliant, and efficient one-stop cross-border payment solutions in an uncertain global environment.

About KUN

KUN is an innovative financial infrastructure company centered on digital payments and embedded finance. Built on a globally distributed licensing framework and a robust compliance and risk-management system, KUN connects Asia with high-growth emerging markets across Africa, Latin America, and the Middle East.

Positioned as a trusted vertical digital payments platform for real economies, the company operates across four core pillars—Cross-Border Digital Payments, On-Chain Finance, Card Issuing, and AI Agentic Payments. By integrating artificial intelligence and blockchain technologies, KUN delivers secure, compliant, and efficient one-stop payment and transaction services for enterprise clients across industries including commodity trade, B2B cross-border e-commerce, service trade, Web3 ecosystems, and AI applications.

Through this integrated infrastructure, KUN serves as a growth engine enabling enterprises to expand globally with speed, trust, and financial connectivity.

Learn more about KUN → www.kun.global

Contact: KUN: brandmkt@kun.global  

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SOURCE KUN

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