China promotes its digital economy through 6G and Big Data
China is planning to boost digital economy’s share in its gross domestic product by 2025
Driven by new technologies such as 6G and Big Data
China anticipates users of 6G - the fastest internet connection speed - to grow from 6.4 million to 60 million by 2025
In fact, boosting internet connections and speeds is an element of China’s strategy to boost the digital economy’s share in its GDP.
China is working to promote the industrial preparation and large-scale application of 5G, per its plan. 5G relates to next-generation internet that guarantees super quick speeds. It's already started rolling out in China and other countries.
However, Beijing’s arrangement conjointly lays out ambitions in 6G or sixth-generation internet. Indeed, China plans to extend support for 6G analysis and development, and is concerned with the creation of international standards for 6G. China began egg-laying the foundations for work on 6G in 2019. But currently, fifth-generation has scarcely started rolling out, and there aren't any united standards or definitions of what 6G is yet.
The world’s second-largest economy also aims to play a massive role in shaping technology standards around the world, a move analysts believe might have big implications for the power Beijing wields in areas ranging from mobile net to artificial intelligence. Standards imply typically globally prescribed technical rules for the ways in which technologies work.
Regulation in China
China’s arrangement conjointly continues to cover themes of independence in areas like semiconductors. The State Council document includes alternative areas like cloud computing, building knowledge centers, and cross-border e-commerce.
Beijing also pledged to continue regulative oversight on the domestic technology sector. Over the past year, China has tightened regulations for web firms and brought in new laws in areas from antimonopoly to data protection.
The State Council document stated it might explore establishing governance strategies that are compatible with the “sustainable and healthy development of the digital economy.” Beijing also said it would clarify the responsibilities of assorted regulators and strengthen collaboration between completely different authorities.
China50 - Technical Analysis
CN50 is still below a trendline and moving between averages of 50, 100, 200, indicating a bearish trend for this asset. CN50 bounced to $15300 as predicted yesterday. It can now continue down to its support level at $15000.
WHAT ZFX THINKS...
Fundamentally bullish, but technically still bearish. The technical point of view will soon change its bias into a bullish trend, once resistance level at $15700 broken and closed bullish above that area.
Risk Warning: The above content is for reference only, and does not represent ZFX’s position. ZFX does not assume any form of loss caused by any trading operations carried out in accordance with this article. Please be firm in your thinking and do the corresponding risk control.
ZFX (Zeal Capital Market) is an FCA & FSA licensed online Forex & CFD broker providing more than 100 products for Forex, commodities, stock indices, and share CFDs. Open a trading account with min. USD 50 deposit and download our MT4 trading platform now!