Technology

Unlocking the “great” economic vitality in “small” counties

Published

14 hours ago

December 26, 2024

BEIJING, Dec. 26, 2024 /PRNewswire/ — A news report by China.org.cn on China’s county economy:

The Christmas and New Year shopping carnival has arrived again. While, in eastern China’s Yiwu, the hustle and bustle already began months ago. As the largest hub for the world’s Christmas decorations, Yiwu provides more than 20,000 types of Christmas items for over 100 countries and regions every year. Since mid-summer, international merchants have been flocking there, crowding the shops in Yiwu.

Yiwu, as a small county-level city, has shaped its own unique development path based on its own strengths and with the help of policy support. Now, it is home to multiple specialized market clusters with modern logistics campuses. Last year, the city’s GDP exceeded 200 billion yuan (about 28 billion USD) for the first time.

Yiwu is a microcosm of the many Chinese county-level administrative divisions in the “100-billion-yuan-GDP club.”

Back in 2013, only nine counties and county-level cities had such a GDP scoresheet. Ten years later, the number has reached 59 according to the latest statistics. Represented by Yiwu and its like, the rapid progress in the county economy has denoted the vitality of China’s whole economy.

We can start with numbers to back the conclusion up. China now has 2,844 county-level administrative divisions, with their economic output accounting for about 40% of the country’s total GDP. While, the 59 counties in the “100-bln-yuan-GDP club” alone have contributed 7.6% of the country’s GDP, and more than 10% of the country’s output value of industrial enterprises above the designated size.

Moreover, the counties and county-level cities are witnessing industrial transition and upgrading. In an automobile production workshop in Feixi County, Anhui Province, the production line churns out a new energy vehicle every 58 seconds; the county is now the hub for over 100 companies along the industrial chain of new energy vehicles. In Shouguang County, which is known as the “vegetable capital” of China, a smart campus measuring more than 23,000 mu (about 3,788 acres) has been built in collaboration with over 40 scientific research institutions. In accelerating industrial innovation and cultivating new industries, the county economy has exemplified new potential for growth.

What’s more notable is how consumption in counties and county-level cities is bolstering domestic demand. In recent years, an array of tea beverage, dining, and fashion brands have mushroomed in the counties. In 2023, one-third of newly opened cinemas are in counties and county-level cities; coffee consumption is growing even faster than in first-tier cities such as Beijing, Shanghai and Guangzhou; more than 60% of the 100-bln-yuan-GDP counties enjoy a consumption capacity higher than the national average. Besides, more and more young Chinese are traveling to counties. For example, Anji County in Zhejiang Province has branded its ecological tourism, attracting numerous tourists with its “Sea of Bamboo in China” and Hello Kitty Park; Liuyang in Hunan Province has built its own tourism brand by hosting the China Liuyang International Fireworks Festival. One can say, the county economy is turning into a significant growth driver for domestic demand.

In China, “county” is a different concept than that in western countries. Chinese county-level administrative divisions cover primarily and mainly the rural areas. Therefore, what we see as a positive momentum in the county economy, is to a great degree the fruits of China’s rural revitalization. Some also believe that it’s living proof of China’s ever-growing solid economic foundation.

The recently convened Central Economic Work Conference proposed to vigorously boost county economies, and placed “expand domestic demand on all fronts” at the top of its agenda. Amid complexities, by growing local specialty industries, strengthening talent pool building, and improving local business environment, even the seemingly smallest counties will unleash gigantic vitality.

China Mosaic
http://chinamosaic.china.com.cn/index.htm
Unlocking the “great” economic vitality in “small” counties
http://www.china.org.cn/video/2024-12/26/content_117630805.htm

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SOURCE China.org.cn

Technology

BingX Introduces ALTCOIN Index Futures Trading: One Click, Countless Trends

Published

58 minutes ago

December 27, 2024

VILNIUS, Lithuania, Dec. 27, 2024 /PRNewswire/ — BingX, a global leading cryptocurrency exchange, is excited to announce the launch of ALTCOIN Index, the first futures trading pair involving top altcoins. This innovative trading product offers users a one-click solution to efficiently track and trade major cryptocurrency trends with ease.

Traditionally used in stock markets, a futures index is a financial derivative that tracks the performance of a group of assets, such as stocks of commodities. These instruments were first introduced to simplify trading by allowing investors to speculate on or hedge against the collective movements of selected market sectors. Instead of purchasing individual stocks, traders are able to access broad market exposure in a single transaction, saving time and reducing costs.

In the cryptocurrency market, this new ALTCOIN/USDT futures trading pair works similarly by bundling the performance of the top mainstream cryptocurrencies by market capitalization, excluding Bitcoin (BTC) and stablecoins. The current index includes ETH, XRP, SOL, BNB, DOGE, ADA, TRX, AVAX, and SHIB. This approach is more efficient compared to buying individual cryptocurrencies or ETFs as this allows for direct speculation using tiered leverage options without the need to manage multiple positions, effectively diversifying trading risks associated with individual asset volatility.

Vivien Lin, Chief Product Officer of BingX, commented on the new offering: “By aggregating a range of leading cryptocurrencies into a single trading instrument, we’re giving users a practical and efficient way to better capture market trends. This index trading pair should help our less experienced users with their trading goals more easily, particularly when they are unsure which asset to trade and just want to trade major altcoins in general with leverage.”

BingX users can take advantage of tiered leverage options and competitive rates consistent with the platform’s perpetual futures terms, simplifying open order management and enhancing trading efficiency. The platform also ensures that the index composition remains current, with regular quarterly adjustments and temporary updates in response to market conditions.

About BingX
Founded in 2018, BingX is a leading crypto exchange, serving over 10 million users worldwide. BingX offers diversified products and services, including spot, derivatives, copy trading, and asset management – all designed for the evolving needs of users, from beginners to professionals. BingX is committed to providing a trustworthy platform that empowers users with innovative tools and features to elevate their trading proficiency. In 2024, BingX proudly became the official crypto exchange partner of Chelsea Football Club, marking an exciting debut in the world of sports.

For more information please visit: https://bingx.com/

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SOURCE BingX

Technology

Lyric’s first solid-state battery front-end equipment is shipped to customer in United States

Published

58 minutes ago

December 27, 2024

BEIJING, Dec. 26, 2024 /PRNewswire/ — Recently, Lyric’s first solid-state battery front-end equipment has been shipped to a customer in the United States. Relying on its deep accumulation in the field of solid-state battery technology, Lyric has achieved strategic development on the global stage.

As of now, Lyric’s Z-shape stacking machine has reached the forefront of the industry, achieving an efficient stacking speed of 0.1s/pcs and ultra-high precision alignment of ≤ ± 0.3mm, setting an industry benchmark. At the same time, with the innovative design, the double planetary mixer realizes the efficient mixing of various viscosity materials, showing extraordinary flexibility, and significantly enhances the safety and efficiency of the production process through the iterative upgrade of automation technology, and provides customized services to accurately meet customer needs.

Looking to the future, Lyric will continue to expand its global footprint, based on the deep accumulation in the field of solid-state batteries since 2020, and its patented technology of dry electrode and stacking process and self-developed equipment advantages, Lyric not only demonstrates excellent capabilities in the manufacture of solid-state battery production equipment, but also provides a full range of solutions. Covers customized delivery from a single station to the entire production line. In terms of international cooperation, Lyric is actively seeking cooperation opportunities with more overseas enterprises, aiming to promote China’s solid-state battery equipment technology and solutions to the global market, further enhance its influence and competitiveness in the global renewable energy industry chain, and jointly explore unlimited possibilities in the field of renewable energy.

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SOURCE Lyric

Technology

Life-Space Wins Prestigious 62nd Australian Export Awards

Published

58 minutes ago

December 27, 2024

MELBOURNE, Australia, Dec. 27, 2024 /PRNewswire/ — At the prestigious 62nd Australian Export Awards held at Parliament House in Canberra, Life-Space, Australia’s No. 1 probiotic brand, proudly claimed the title of ‘E-commerce Winner of the Australian Export Awards 2024’. This incredible achievement underscores Life-Space’s unwavering commitment to delivering world-class health solutions to global consumers, fuelled by innovative digital strategies and a robust e-commerce presence.

Celebrating Australian Export Excellence

The Australian Export Awards, established in 1963 and presented by the Australian Trade and Investment Commission (Austrade) in collaboration with State and Territory awards programs, is a premier national program. It recognises the achievements of Australia’s most outstanding, innovative, and inspiring exporters, highlighting their significant contributions to the nation’s economy.

A Global Leader in Consumer Health

Life-Space has established itself as a trusted name in probiotics, offering products that support gut microbiome and whole-body health. Exporting to over 20 countries, including China and key Southeast Asian markets, Life-Space continues to redefine the global consumer health landscape. The brand’s dedication to scientific innovation, high-quality manufacturing, and consumer education has made it a household name worldwide.

Driving E-commerce Excellence

The award recognises Life-Space’s exceptional ability to adapt to the ever-evolving digital marketplace. Through strategic collaborations, robust online platforms, and consumer-centric marketing campaigns, Life-Space has consistently delivered value to its customers while expanding its global footprint. Notably, Life-Space has seen explosive growth in China’s cross-border e-commerce market, alongside outstanding performance in Southeast Asian countries such as Singapore, Vietnam, and Malaysia. The Singapore market, in particular, has recorded an impressive 140% annual growth rate for three consecutive years.

‘This recognition is a testament to the passion and hard work of the entire Life-Space team,’ said Alan Yi, Life-Space Group’s General Manager – Global Business, ‘We are proud to represent Australia on the global stage and remain dedicated to bringing the best in probiotics to consumers worldwide.’

Looking Ahead

As Life-Space celebrates this milestone, the brand is focused on forging new market opportunities, advancing health education, and introducing cutting-edge products that enhance everyday health and well-being.

“Our vision for 2025 includes expanding our export capacity and preparing to introduce our products to the U.S. market,” added Yi. “This achievement further reinforces our position as a global leader in consumer health.”

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SOURCE Life-Space