ed China’s digital economy had reached more than 27 trillion yuan ($4 trillio
n) in 2017, a year-on-year rise of 20.3 percent, accounting for nearly 33 percent of GDP.
Lu said the growth rate of the number of people working as new media operators in 2017 was mo
re than 10 times that of 2013. The growth comes as more consumers turn from mass media to new me
dia, which provides more information, is faster, has a more diversified presentation and cheaper cost.
Algorithm engineers, in particular, grew at exponential rates. More than fi
ve times as many people worked as algorithm engineers in 2017 than 2013, he said.
“Algorithm is the foundation for artificial intelligence. AI has started to integrate with other industr
ies and already had been successfully implemented in AI plus marketing, finance and assisted medical dia
gnosis. AI engineers will have more value as AI becomes more closely tied with more businesses,” Lu said.
ople. However, neither the US nor China can expect to keep, much less get back, low-wage, low-skilled manufacturing jobs.
Many people have the impression that Chinese goods are dominant in US markets. That is true only in a few highly com
petitive, low-profit sectors. According to US Commerce Department data, China has more than 50 percent of the
US market in such items as umbrellas, toys, prepared feathers, footwear, straw products, and bedding.
Chinese exporters have from 20 to 50 percent of the US market in ot
her low-value-added markets, plus electrical machinery and equipment, mechanical app
liances, and iron and steel. In most other categories, China has less than 20 percent of the US market.
China also assembles and then exports a lot of phones, computers and other gad
gets to the US. But, most of the profits and wages go to Japanese or South Korean componen
The rise in both pet ownership and travel is inIn 2018, the pet market was w
orth 172.2 billion yuan, more than triple that of 2013,” said Neil Wang, president of con
sultancy Frost & Sullivan. “Of which, the dog market was 98.5 billion yuan and for cats it was 60.2 billion yuan.”
According to Frost & Sullivan’s research, services counted for about 15 percent of the pet dog and cat market, totaling 24.1 billion yuan.
As pet hotel services are in hot demand, the industry has been upgrading to assure pet owners
of the safety of their four-legged friends. And some business owners such as Li have taken things a step
further, making sure that it’s not only the owners who are happy, but the pets, as well.
Li said many pet owners worry that there is no comfortable place for their best friends to stay.
“Traditional pet centers can harm pets by keeping them in spaces that are too small, especially big breeds, which can’t even tu
rn around,” she said. “Pets can also see guests going in and out of the facility, and that can frighten them, as well.creasin
m revenue last year, up 13.5 percent year-on-year. Out of it, 447.7 billion yuan was contributed by 340 million passenger trips by domestic travelers.
Shanghai’s abundant cultural and tourism resources, its high lev
el of internationalization, convenient public transportation, fine public service, rapi
dly improving level of intelligent urban infrastructure are attracting travelers from home and abroad, said He.
Last year, 135 products sought official recognition to be sold as city souvenirs. Only 43 made
it to the shortlist, out of which 24 were eventually selected as they featured distinctive Shanghai elements.
Many of the products are made by time-honored brands including White Rabbit creamy candy, Park Hotel’s butterfly cooki
es, local patisserie Xing Hua Lou’s sweetened bean paste moon cake, Bee & Flower sandalwood soap, Liushen Fl
orida Water, as well as Shanghai Museum’s creative jewelry box, silk scarves, teacup sets and table flags.