Circulation Industry

Circulation enterprises in China have advanced work resumption with current market supply at a sufficient level, while retail prices of daily necessities have dropped,

cultural products, including cloud exhibitions, online disco dancing and virtual tours, served to test the waters for the upcoming 5G era.

Cao said the 5G commercial use would lead to technical changes in high-definition video, virtual reality and augmented reality systems in China’s cultural tourism industry, nurturing new consumption models.

Facing new development trends, China will promote supplyside structural reform with new technologies like 5G and ultra high definition to cultivate new forms of business, according to the Ministry of Culture and Tourism. ing the January-february period, down 11.6 percent year on year, MOFCOM said in an online statement.

Service exports amounted to 275.07 billion yuan ($38.7 billion), down 6 percent, while imports fell 14.6 percent to 465.23 billion yuan ($65.6 billion).

The service trade deficit stood at 190.16 billion yuan ($26.8 billion) during the period, down 24.6 percent from the same period last year.

The ministry highlighted the strong resilience in China’s trade of knowledge-intensive services amid the pandemic, which increased 1 percent year on year to 276.57 billion yuan ($38.9 billion). ducers across China had offered 27,000 ventilators, with some 3,000 of them being invasive ventilators, fulfilling the country’s antiepidemic needs. While meeting the domestic demand, it has provided around 1,700 invasive ventilators to other countries since March 19.

China has received orders for about 20,000 ventilators from other countries, Xu noted, adding that 21 invasive ventilator manufacturers have swung into full gear to meet the surging demand in the foreign market.

The ministry will take more steps to elevate productive capacity while urging firms to tighten quality supervision and enhance production safety, Xu added.