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E-rickshaw Market Set to Total USD 38360.8 Million by 2034 Amid Rising Need for Last-mile Travel Options | Future Market Insights Inc.

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India and China are projected to dominate the electric rickshaw sector from 2024 to 2034. Spain, France, and Italy are also expected to experience significant growth in this market, with anticipated growth rates of 23.9%, 22.3%, and 20.7%, respectively.

NEWARK, Del., June 26, 2024 /PRNewswire/ — The projected market size for global e-rickshaws is expected to reach USD 2425.1 million by 2024 and is predicted to grow at a CAGR of 31.8% from 2024 to 2034. It is estimated that the worldwide sales of e-rickshaws will total USD 38360.8 million by 2034, driven by increasing demand for sustainable transportation solutions.

The e-rickshaw market is anticipated to show promising growth prospects during the forecast period as a result of growing competition. New competitors are offering a variety of options at reasonable pricing to fulfill the demand for e-rickshaw, making them more accessible to customers in the global e-rickshaw market.

In 2024, passenger carrier e-rickshaws are anticipated to dominate the market with a 64.4% share, making it the leading vehicle type in the electric rickshaw industry. Additionally, the segment of 1,000 to 1,500 motor power is expected to hold a 57.4% value share in 2024.

The entry of various automotive manufacturers into the e-rickshaw industry, along with the introduction of new models, is contributing to the growth of the market. Opportunities are arising from smart city projects that prioritize urban mobility solutions and create a conducive environment for the integration of e-rickshaws in public transport networks. Localized production of lithium-ion-battery-based e-rickshaws is also encouraging high adoption rates.

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Challenges in the electric rickshaw sector include the lack of standardization in terms of quality, safety, and performance, which may lead to an influx of low-quality e-rickshaws. Furthermore, the reliance on imported key components for e-rickshaw production poses a significant challenge for manufacturers.

Key players in the industry are focusing on introducing cost-effective 3W EVs with advanced technology, aiming to offer consumers the benefits of both affordability and advanced features. These companies are presenting a compelling value proposition in the rapidly evolving industry.

The e-rickshaw market’s leading manufacturers are concentrating their efforts on the introduction of fiber-reinforced plastic (FRP) technology, which is a composite material composed of a polymer matrix reinforced with glass fibers. FRP enables plastic fibers to be shaped to fit specific designs, and the orientation of the fibers increases strength and resistance to deformation.

Key Takeaways from the Market Report:

The e-rickshaw market is set to reach USD 38360.8 million by 2034 with a CAGR of 31.8%.By vehicle type, passenger carriers are leading the e-rickshaw market with a value share of 64.4% in 2024.Based on motor power, 1000 to 1500 W accounted for a market share of 57.4% in 2024.India is estimated to record a CAGR of 47.4% between 2024 and 2034.China will hold its dominant position in the e-rickshaw market and show steady growth at a CAGR of 35.6% by 2034.

Which is the Leading Region in the E-Rickshaw Market?

According to geographies, the Asia Pacific area, particularly India and ASEAN nations such as Thailand, Vietnam, and the Philippines, is expected to lead the sales of the e-rickshaw industry. India has a sizable e-rickshaw market share in terms of revenue and sales, owing to the growing manufacturing to fulfill the demand for e-rickshaw.

Following India, China, and ASEAN nations account for the second and third largest e-rickshaw market shares, respectively, in terms of production and sales. In the future years, the Middle East and Africa area is predicted to have moderate development. The European region’s sales in the e-rickshaw industry are predicted to increase steadily.

North America’s sales in the e-rickshaw industry are low, as the majority of countries in this region have developed and acquired modern public transportation systems, such as metros, taxis, and electric buses, among others. As a result, demand for e-rickshaw is declining in this region, and thus the e-rickshaw market share is decreasing as well.

Asia Pacific is emerging as the dominant region for the electric automotive industry. Leading countries in the region are poised for substantial growth in the coming decade,” says Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.).

Who’s winning?

The electric rickshaw industry is poised for growth, leading to growing competition among manufacturers. Key players, such as How Care Products Pvt. Ltd., Charuvikram Automobiles Pvt. Ltd., A G International Pvt. Ltd., Saera Electric Auto Pvt. Ltd., Gauri Auto India Pvt. Ltd., Yuva E Rickshaw, and Xuzhou Hongsengmeng Group Co., Ltd., will need to prioritize offering affordable models to meet the needs of price-conscious consumers in developing countries.

 The introduction of new technological advancements will provide a competitive advantage. Manufacturers who provide improved battery range and efficiency, e-rickshaw battery swapping facilities, and features like GPS tracking, entertainment systems, or digital payment options are expected to experience increased sales.

Competitive factors in the e-rickshaw market include pricing pressures and industry consolidation, which will drive the development of new innovations aimed at enhancing the efficiency, user-friendliness, and features of electric rickshaws. With intense competition, the e-rickshaw sector is anticipated to undergo consolidation, with only the leading players dominating the industry.

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Leading E-rickshaw Brands:

How Care Products Pvt. Ltd.Charuvikram Automobiles Pvt. Ltd.A G International Pvt. Ltd.Saera Electric Auto Pvt. Ltd.Gauri Auto India Pvt. Ltd.Yuva E RickshawXuzhou Hongsengmeng Group Co., Ltd.Wuxi Weiyun Motor Co. Ltd.Wuxi Berang International Trading Co., Ltd.Udaan E RickshawGoenka Electric Motor Vehicles Pvt. Ltd.Mini Metro EV LLPAditya AutomobileDilli Electric Auto Pvt. Ltd

Industry Updates

Rajiv Bajaj, the managing director of Bajaj Auto, headquartered in Pune, India, in an interview with CNBC TV18 in May 2024, announced the company’s plans to launch an affordable electric 3W vehicle.Piaggio, headquartered in Pontedera, Italy, in May 2024, launched the new Battery Subscription Model, making 3W EV ownership affordable and attractive by eliminating battery costs.

Get More Insights into the E-rickshaw Market Report

In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the e-rickshaw market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034. To understand the industry potential, growth, and scope, the industry is segmented based on vehicle type (passenger carrier and load carrier), battery capacity (>101 Ah and <101 Ah), motor power (up to 1000 W, 1000 to 1500 W, and more than 1500 W), end-user (original equipment and aftermarket), and regions.

Preview Report: https://www.futuremarketinsights.com/reports/e-rickshaw-market

About the Automotive Division at Future Market Insights 

The Automotive Division of FMI offers extensive coverage and valuable insights about the automation industry, including areas such as robotics, artificial intelligence, machine learning, and process automation. Our market research findings and competitive intelligence help various industry stakeholders, including manufacturers, technology providers, distributors, and service providers, make informed decisions and stay updated with the latest market trends and developments.

Authored by:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.

Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.

Explore FMI’s Extensive Coverage in the Automotive Domain:

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The global freight car market size is estimated to reach USD 162 billion in 2024. The industry is further anticipated to rise at a CAGR of 5.6% in the evaluation period. The sector is projected to attain a value of USD 279 billion by 2034.

The global track laying equipment market size is anticipated to reach USD 26,220.5 million in 2024. The industry is anticipated to attain a value of USD 1,01,553.7 million in 2034. It is projected to showcase a CAGR of about 14.5% in the assessment period 2024 to 2034.

The market size for transport management systems is estimated to be USD 6.7 billion by 2024. The market for transport management systems is expected to expand at a CAGR of 18.8%. Industry estimates predict that the market will reach USD 92.7 billion by 2034.

The global connected car market is projected to reach USD 118,352 million by 2034 from an estimated valuation of USD 37,223 million in 2024, expanding at a CAGR of 12.3%. With remarkable progression in the past few years, the automotive sector has made big bets in the advancement and adoption of AI and advanced connectivity features.

The global electric vehicle maintenance market is estimated to be worth USD 17,150 million in 2024. Displaying a CAGR of 15.4% through 2034, the electric vehicle maintenance market will be worth USD 71,640 million by the end of the forecast period.

The global vehicle-to-grid (V2G) market is set to reach a value of USD 34702.8 million in 2034 from USD 4486.6 million in 2024. The industry is estimated to showcase a CAGR of around 22.7% in the assessment period 2024 to 2034.

The global electric bicycle market is positioned for remarkable growth in the coming years, presenting vast opportunities. Projections suggest that the market will attain a value of US$ 4.0 billion by 2024, with further substantial growth expected to propel it to US$ 6.6 billion by 2034.

The potential of the global motorcycle headlight bracket market growth through 2034 will be estimated at a moderate CAGR of 6.5%. With the help of multiple uplifting forces, the global motorcycle headlight bracket market size will likely reach USD 271.4 million by 2034, whereas 2024 will ensure the ecosystem attains USD 145.2 million.

The global electric bus industry size has an estimated valuation of USD 21.3 billion in 2024. The electric bus market forecast will be USD 68.5 billion by 2034, projected at a CAGR of 12.4%.

About Future Market Insights Inc. (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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KBR Launches Inaugural Innovation Studio Powered by Applied Computing in Bengaluru

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BENGALURU, India, June 16, 2026 /PRNewswire/ — KBR (NYSE: KBR) launched its inaugural Innovation Studio, powered by Applied Computing, in Bengaluru, India, establishing a base from which the two will deliver industrial AI from India.

Co-located with Applied Computing’s Bengaluru office, the studio serves as KBR’s operational hub for remote monitoring and advisory services delivered through INSITE 3.0, powered by Applied Computing’s Orbital Platform. The collaboration is built on combining Applied Computing’s foundation AI for energy with KBR’s process technology. The hub will deliver remote monitoring and advisory services to KBR’s existing global industrial customers, while also serving as the foundation for deploying the new INSITE 3.0 AI capability to the first wave of customers later this year.

In March, KBR launched INSITE 3.0, its digital delivery platform powered by Orbital, marking the first product to integrate the foundation model with KBR’s process technology expertise.

At the studio’s opening event last week, KBR leadership hosted members of the media as well as subject matter experts, experienced field engineers, operations and maintenance specialists. The launch event offered a first look at the facility and a live demonstration of INSITE 3.0 in action.

Hari Ravindran, SVP and Global Head of Technology Solutions, KBR, said: “The Innovation Studio reflects KBR’s commitment to building deep technology partnerships in India and investing in the future of industrial operations here. Co-locating the KBR Innovation Studio, staffed by our operational experts, alongside Applied Computing’s engineering team base, brings the best of both together: decades of process technology knowledge and a foundation model built specifically for energy. This is a long-term commitment to our customers in the region and to the engineers and specialists who will deliver for them.”

Dan Jeavons, President of Applied Computing, said: “India is where the future of industrial AI is being decided. The scale of operations, the pace of growth and the willingness to adopt advanced technologies are unmatched anywhere in the world. This studio launch is our chance to show, in a live control room, what foundation AI built for energy can actually do. Orbital is already delivering results at some of the largest refineries on the planet, and bringing the industry together in Bengaluru is the clearest signal yet of where we believe this technology is heading.”

Read more about how KBR and Applied Computing are working together to advance AI in the energy sector on kbr.com.
Learn more about Orbital at appliedcomputing.com.

View original content:https://www.prnewswire.co.uk/news-releases/kbr-launches-inaugural-innovation-studio-powered-by-applied-computing-in-bengaluru-302801331.html

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Dun & Bradstreet Becomes the Trusted Partner for Global Agentic Workflows Through Integrations with Anthropic, OpenAI and Microsoft

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HONG KONG, June 16, 2026 /PRNewswire/ — Dun & Bradstreet recently announced a series of collaborations with OpenAI, Microsoft and Anthropic, bringing the D&B Commercial Graph™ into their respective platform ecosystems. Users can now access Dun & Bradstreet data across leading AI platforms including ChatGPT, Codex, Microsoft 365 Copilot and Claude.

The collaborations represent an important step in embedding trusted business data into agentic workflows. As enterprises increasingly adopt AI to support research, analysis, onboarding, compliance, finance and risk decisioning, access to verified, structured and continuously updated business information is becoming essential to improving confidence, consistency and governance in AI-powered outcomes.

D&B Commercial Graph Powers the Core Data Foundation for the AI Era

As artificial intelligence continues to advance into the agentic era, enterprises increasingly require high quality data that is structured, contextualized and machine readable. AI agents supporting complex workflows, including due diligence, compliance screening, financial analysis and business decision making, rely on trusted data to generate accurate, reliable and actionable insights.

Anchored by the D-U-N-S® Number business identifier, the D&B Commercial Graph™ provides a foundational context layer for understanding business identity, relationships and risk across the global economy. Only with verified business information can agents deliver true business value and ROI in finance and risk management scenarios.

The D&B Commercial Graph™ integrates public and proprietary commercial signals, as well as directly contributed business information, to create a continuously validated view of business identity, ownership, supplier relationships, financials, and risk indicators. The result is an authoritative view of how businesses connect and operate globally. With more than 100 billion verifications, tests, and checks each month, D&B’s Commercial Graph™ delivers coverage, accuracy, consistency, and governance across enterprise systems and AI applications.

Building on this foundation, Dun & Bradstreet is working with leading AI platforms to embed a trusted data layer directly into enterprise workflows.

Collaboration with OpenAI: Bringing Verified Business Context into Finance Workflows

Dun & Bradstreet has collaborated with OpenAI to enable users to access the D&B Commercial Graph™ in ChatGPT and Codex via Model Context Protocol, or MCP, servers. The integration allows financial professionals to bring verified business identity, ownership, relationship, credit and risk data directly into their workflows to accelerate due diligence, financial reporting, validation, guidance and credit origination.

Through D&B-hosted MCP servers, customers can securely connect Dun & Bradstreet data to ChatGPT and Codex, using natural language prompts and custom agents to streamline data-intensive workflows. Users can also access D&B Finance Analytics tools via MCP servers to support automated business credit decisions, powered by real-time insight into hundreds of millions of businesses and a rules-based engine. This enables finance teams to identify and manage risk across portfolios within a headless AI architecture.

“AI is quickly becoming a core part of how organizations make decisions across finance, risk, and growth, and its impact depends on the quality of the data behind it,” said Scott Spencer, General Manager, Finance & Credit at Dun & Bradstreet. “By bringing the D&B Commercial Graph into ChatGPT and Codex, we’re meeting customers where they are working. This helps teams of all sizes, including small and mid-sized businesses, to embrace the power of AI with confidence in their workflows.”

Collaboration with Microsoft: Bringing Verified Business Data into Microsoft 365 Copilot

Through its collaboration with Microsoft, Dun & Bradstreet has made its Graph Connector available in Microsoft 365 Copilot, giving developers and enterprises no-cost access to a curated sample of data from the D&B Commercial Graph™. This allows users to explore how verified business data can support use cases such as research, business identification and workflow enhancement within Copilot.”

The D&B Graph Connector provides access to foundational information on tens of thousands of global public and private companies, including company summaries, locations, contact information, and key data such as employee and revenue ranges.

“Knowing who you’re doing business with is an essential part of knowledge workflows,” said Chantrelle Nielsen, Principal Product Management for Microsoft 365 Copilot at Microsoft. “Integrating this sample of Dun & Bradstreet data into Microsoft 365 Copilot provides that crucial first step of business identification and opens the door for users to explore new ways to use D&B’s continuously updated business data in Copilot.”

Collaboration with Anthropic: Accelerating Onboarding, Risk and Compliance Workflows in Claude

In collaboration with Anthropic, Dun & Bradstreet is bringing verified business, risk and compliance data capabilities into Claude to help enterprises accelerate onboarding and compliance workflows.

By integrating the D&B Commercial Graph™ into Claude, users can access verified business information, corporate linkage data and risk intelligence within a unified workflow framework, enabling more efficient entity verification, relationship analysis and process execution.

This approach represents the future of knowledge work for enterprises: AI systems that do not simply summarize information, but operate with verified enterprise context, risk logic, and governance.

Dun & Bradstreet China: Empowering Local Agentic Workflows with Trusted Business Data

From OpenAI to Microsoft to Anthropic, a clear trend is emerging: trusted business data is rapidly integrating into agentic workflows, becoming a critical foundation for large language models to connect with real-world business scenarios, support task execution and enable decision-making. Dun & Bradstreet China continues to drive the deep integration of trusted business data with both local and global AI platforms.

Currently, Dun & Bradstreet’s global data along with China Data by Topics via MCP servers support integration with leading international platforms and developer tools such as Microsoft Copilot, Cursor, Claude Code and OpenClaw, while also being compatible with local AI ecosystems including Trae, WorkBuddy, QoderWork, Coze and CherryStudio.

Leveraging the D&B Commercial Graph™, the D-U-N-S® Number and business data covering nearly 900 million companies worldwide, Dun & Bradstreet China embeds global business data capabilities into enterprise large language models, AI agents and business workflows. This helps customers access global company information more efficiently, identify corporate linkage networks and gain insights into potential risks.

In the AI era, Dun & Bradstreet is becoming a trusted partner within agentic workflows, helping customers make smarter, faster and more confident decisions across key scenarios including customer acquisition, risk management, supply chain management, trade compliance and global expansion.

About Dun & Bradstreet

Dun & Bradstreet provides the verified commercial identity foundation for enterprises to deploy AI at scale. The company originated the D‑U‑N‑S® Number in 1963, now the global standard for identifying commercial entities. Anchored by this identifier, the D&B Commercial Graph structures and connects business identity consistently across systems, enabling AI to operate on accurate, validated data. Since 1841, businesses of every size have relied on Dun & Bradstreet to navigate change and accelerate growth. For more information, visit: www.dnb.com.hk

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SOURCE Dun & Bradstreet

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Wuhan extends sincere invitation to young people across the globe

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BEIJING, June 16, 2026 /PRNewswire/ — A report from China Daily

Wuhan in Central China’s Hubei province is shining in its golden era. The city is hosting the ongoing 2026 World Youth Development Forum from June 15 to 17, capturing global attention across central China. A frontrunner in the optical and chip industries, Wuhan resonates with young people worldwide and extends a sincere invitation to them.

The five letters spelling “WUHAN” act as five open windows to the world, forming the city’s unique identity and a heartfelt invitation to global youth.

Represented by the letter W for Water, Wuhan is a city nurtured by the Yangtze River. Sitting on the convergence of the Yangtze River and the Hanjiang River, it enjoys convenient access to the whole world. The city encompasses 165 rivers and 166 lakes, with water areas accounting for one-fourth of its total territory.

As an international wetland city with a population of over 10 million, Wuhan features romantic seasonal scenery all year round, featuring cherry blossoms in spring, lotuses in summer, sweet osmanthus in autumn and plum blossoms in winter. It is home to 1,050 parks of various styles and 2,500 kilometers of picturesque greenways and serves as a habitat for the Yangtze finless porpoise, known as the “giant panda of the water.” Endowed with abundant vitality, it stands as a magnificent city of picturesque mountains and rivers.

The letter U stands for University. Wuhan is China’s third-largest hub of intellectual resources, home to 95 higher education institutions, including Wuhan University and Huazhong University of Science and Technology. It ranks fourth nationwide in terms of the number of academicians from the Chinese Academy of Sciences and the Chinese Academy of Engineering. Fourteen of its disciplines, including remote sensing technology and earth sciences, rank among the world’s top ten. In the Nature Index Science Cities rankings, Wuhan takes the fifth place in China and eighth across the globe.

The city has rolled out over 50 world-class innovation achievements, including the world’s first Beidou high-precision chip and the world’s fastest maglev technology. One in ten Wuhan residents is a college student. Every year, 300,000 fresh college graduates choose to stay in Wuhan to start businesses or seek employment. It is truly a “land of talents where brilliance thrives.”

The letter H represents High-tech. Wuhan boasts nationally influential strength in scientific and technological innovation. The world-renowned Optics Valley of China is located right in Wuhan. The city hosts the world’s largest manufacturing hub for optical fibers and cables, as well as China’s leading production hub for optoelectronic devices and small-to-medium-sized display panels.

Pillar industries such as optoelectronic information, automobiles and biomedicine are accelerating toward the trillion-yuan level. Meanwhile, emerging and future industries covering the digital economy, quantum technology, commercial aerospace, 6G and hydrogen energy are maintaining steady growth. Wuhan has evolved into a dynamic, fast-evolving city of innovation.

The letter A symbolizes Art. With a 3,500-year history of urban construction, Wuhan acts as a vital carrier of Yangtze River civilization and Jingchu culture. The city features diverse charms, ranging from the poetic heritage of the Yellow Crane Tower and the futuristic vibe of the suspended monorail, to breathtaking scenery of vast rivers and lakes and a vibrant street-food culture.

More than 40,000 concerts, e-sports festivals and sports events are held in Wuhan annually. Consistently listed among China’s top ten most popular tourist destinations, it is an inclusive cultural city where ancient heritage and modern glamour complement and shine for each other.

Last but not least, the letter N stands for Network. Wuhan is a world-class comprehensive transportation hub. A 4-hour high-speed rail trip or a 2-hour flight can cover 80 percent of China’s major cities and reach a population of 1 billion.

The Yangtze golden waterway, China Railway Express (Wuhan) and multiple passenger and cargo hubs connect the Maritime, Land, and Air Silk Roads. Huahu Airport ranks fourth in the world and first in Asia among professional cargo airports. Equipped with a national-level internet backbone interconnection hub, Wuhan realizes seamless network connectivity nationwide, consolidating its status as a globally connected intelligent hub city.

During the ongoing forum, Wuhan is presenting a host of well-designed characteristic activities tailored for young people based on its superior resources. These events vividly showcase an authentic, multi-dimensional and vibrant urban panorama to participating global youth.

The forum is currently presenting Wuhan’s development experience as a thriving “City of Youth” to the world. It introduces China’s practices in building youth-development-oriented cities, displaying Wuhan’s all-round support for youth innovation, entrepreneurship and personal growth via startup incubators, talent apartments, targeted policies and comprehensive service platforms. At this moment, a sincere “Invitation from Wuhan” is being delivered to young people across the globe.

Delegates from all participating countries will explore Wuhan’s sci-tech innovation frontier in person. They will visit core innovation platforms including Hubei laboratories, Dongfeng Motor Group, the Hubei Humanoid Robot Innovation Center, and Xiaomi Smart Home Appliances Factory to experience the tremendous momentum of Wuhan’s “One City, Three Corridors, and Multiple Belts” innovation pattern and witness the diverse manifestations of Chinese modernization with their own eyes.

Participants will also immerse themselves in unique Jingchu cultural customs. They will pay a visit to the Yellow Crane Tower, Hubei Provincial Museum and the Changjiang Civilization Museum, admire the stunning night scenery along the two rivers, and explore the time-honored heritage of Zhiyin Culture and the profound essence of Yangtze River civilization. Furthermore, delegates will take part in the Youth Market and Dragon Boat Festival Intangible Cultural Heritage Experience activities.

They will communicate with young inheritors of Han embroidery, carved paper-cutting and traditional Chinese medicine sachets, and gain an in-depth understanding of the profound heritage of traditional Chinese culture as well as the innovative vitality of contemporary young craftsmen.

 

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SOURCE China Daily

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