The semiconductor chip is well regarded as an essential component in the global advancement of technology. However, its critical role in innovation has been bogged down by the China-U.S. trade conflict, with the semiconductor industry, a key driver of America's technological competitiveness, left mired in the abyss.
The mom and baby market is continuously booming in China, as the country has fully adopted the two-child policy and more millennial's with higher family income and stronger consumption awareness are becoming parents. The total value of the market in China exceeded 3.2 trillion yuan (450 billion U.S. dollars) in 2018. It includes all products and services targeting millennial parents in the country and it's called the new mom economy.
China’s holiday economy is growing as online retails and mobile e-commerce develop. The total value of the market reached 800 billion yuan (113 billion U.S. dollars) in 2018. Holidays such as the New Year's Day, Spring Festival and Chinese Valentine’s Day have become hot spots for consumption. The same is true with the ongoing Mid-Autumn Festival.
Falling on the 15th day of the eighth month on lunar Chinese calendar, Mid-Autumn Festival is time for family reunion. It is also time for consumption, buying gifts for family and friends. Consumers' demand for the holiday market is expanding. So what are the new consumption trends at this year's Mid-Autumn Festival?
Aging seems less to be a problem in China, as the rapidly aging population promises more consumption and economic growth. By 2021, the consumption of the elderly population is expected to contribute about 5.7 trillion yuan (800 billion U.S. dollars) to China's GDP growth.
Ten years ago, Elinor Ostrom became the first ever woman to win the Nobel Memorial Prize in Economic Sciences. A decade on, Ostrom remains the only woman to be recognized for her work in the field of economics.
Three major Chinese movies -- "My People, My Country" -- "The Climbers" -- and "The Captain" -- were screened during the recent National Day holiday to celebrate the 70th anniversary of the founding of the People's Republic of China, winning at the box office and in the tourism sector.