Tech fest to aid online services

THE Shanghai Information Consumption Festival, part of the Double Five Shopping Festival, will kick off next Monday, which is also the World Telecommunication and Information Society Day. The festival is an attempt to boost online services and the digital economy, and create a consumption volume of more than 10 billion yuan (US$1.54 billion).

Over 70 firms, including mobile carriers, e-commerce platforms, online travel websites and crossborder payment firms, will attend the monthlong event. Companies such as China Mobile, China Telecom, Huawei, Tencent, Xiaomi, Trip.com, Bilibili, China Reading, Red and iQiyi will take part in the festival, according to the Shanghai Economy and Information Technology Commission.

More than 100 informationconsumption events will be held at shopping malls, universities and enterprises. Some products and services will debut nationwide and globally with online services and platforms.

Livestreaming, tech demonstrations and other activities will also take place, focusing on “easier work, better life and future experience.”

Highlights will include 5G smart homes presented by mobile carriers, discounted travel services from Trip.com, an online reading festival hosted by China Reading and a cross-border payment service courtesy of Huifu.

Shanghai’s latest achievements in the online new economy or digital transformation will be on show during the annual festival.

This year is the first anniversary of the online new economy, initiated by the Shanghai government on April 13 last year. The term covers the information technologies, including artificial intelligence, 5G, Internet, big data and blockchain, that empower traditional industries such as manufacturing, finance, culture and entertainment, education, health care and transport.

The online new economy boomed last year due to social distancing measures brought about by the pandemic.