Skyscrapers border a lush green landscape in the central business district in Shenzhen, Guangdong province. [Photo provided to chinadaily.com.cn]Rebound:?Nation may top equity market, analysts sayChina's economy is widely expected to rebound by the end of the first quarter as COVID-related disruptions wane, giving a much-needed boost to the ailing global economy, according to international investment banks and asset managers.A rebound in the world's second-largest economy will help drive the growth of neighboring economies, strengthen global supply chain stability and provide attractive opportunities for international investors, they said."The speed of China passing the peak of COVID-19 — at least when it comes to the recent wave of infections — is much faster than we previously expected. This means a significant economic upturn may soon take place," said Chen Dong, head of Asia macroeconomic research at Pictet Wealth Management.China's economic activity may pick up substantially by the end of the first quarter, which will reduce uncertainties related to global supply chains, boost outbound travel and benefit neighboring economies, Chen said.As some provinces and cities in China have announced that they have passed the peak of the current COVID-19 outbreak, population mobility and economic activity are regaining their momentum, propelling a rally in the Chinese currency and the stock market.The central parity rate of the renminbi jumped 654 basis points to 6.7611 against the US dollar on Tuesday, reaching its strongest level since mid-August.In addition, the CSI 300 index, which covers the top 300 stocks traded in Shanghai and Shenzhen, rose for the seventh straight trading session as of Tuesday, closing up 0.11 percent at 4,017.47 points.Amid weakening global economic and market prospects and tightening campaigns by a number of nations' central banks to curb inflation, the pickup in China's economic fundamentals and its financial markets offers unique opportunities to international institutional investors.Xu Fei, head of alternatives and multi-asset strategies at Vanguard's Quantitative Equity Group, said that the US asset manager is increasing its exposure to emerging market assets to capitalize on the upside potential offered by Chinese A shares.China's unfolding economic rebound sharply contrasts with the rising recession risks in major developed economies, thus providing international investors with valuable diversification benefits, Xu said.Analysts at Morgan Stanley also said in a report on Monday that China may top global equity market performance in 2023.Given that China's economic activity is recovering from the impact of COVID-19 at a faster pace, they increased their forecast for the nation's GDP growth this year from 5.4 percent to 5.7 percent while also expecting the renminbi to rise to 6.65 against the dollar in the next 12 months, the report said.Stepped-up fiscal and monetary policies will also boost China's economic recovery, said Wang Tao, head of Asia economics at UBS Investment Bank, who pointed to the possibility of a further reduction in the reserve requirement ratio — the proportion of money that lenders must hold as reserves, as well as further measures to boost the real estate market by authorities in a number of cities.Efforts should be made to properly boost credit expansion early this year to deliver "accurate and substantial" support for key areas and weak links, the People's Bank of China, the nation's central bank, said on Tuesday after holding a meeting with the China Banking and Insurance Regulatory Commission.Key areas that financial services should support include infrastructure investment, small business, technological innovation, manufacturing and green development, while financing of the real estate sector will be "steady and orderly", said the central bank.Data from the central bank showed that China's new yuan-denominated loans totaled 1.4 trillion yuan (6.5 billion) in December, up by 266.5 billion yuan year-on-year, indicating continuous credit support for the real economy.Wang said that China's economic recovery is expected to help boost the travel revenue of some neighboring economies and benefit producers of oil and other commodities by propping up related market demand.Nevertheless, experts also cautioned about the risk of China's demand recovery overstimulating commodity prices. Here is shan dong 編輯： 宋基金 閱讀量：3592
A visitor (right) checks out Nreal products during an expo in Hefei, Anhui province, in November. [CHINA DAILY]China's market for augmented reality and virtual reality will expand quicker than any other major country over the next few years, on the back of mounting enthusiasm from both enterprises and consumers to embrace the applications, experts said.The Chinese AR and VR market's average annual compound growth rate should be 43.8 percent from 2022 to 2026, compared with a 38.5 percent clip globally, market research company International Data Corp forecasted in a report.Spending on AR and VR in China is predicted to hit .1 billion by 2026, making it the world's second-largest market, the report showed. Global spending may jump to .7 billion in 2026 over the same period.VR accounts for 70 percent of investment in the two technologies in China, according to IDC. Gaming is the leading user scenario for VR, accounting for almost a third of its use, followed by training and collaboration. These three subcategories should constitute more than half of China's VR market from 2022 to 2026.The reality-enriching sector is growing with an increasing number of consumer products available. Consumer-focused goods are predicted to make up nearly 40 percent of the entire AR and VR market by 2026. The education, healthcare and professional services sectors are expected to adopt immersive technologies, constituting more than 28 percent of their use, IDC added.Xu Chi, founder and CEO of Nreal, a Chinese AR glasses pioneer, expects that by 2030 there may be more than 1 billion AR or VR glasses offering various virtual and real interactive experiences."People today may think this figure is very high but sometimes we overestimate the technology iteration in two to three years and underestimate the changes brought by technology or products in more than 10 years," Xu said.Nreal said as of December 2022, the Beijing-based company has produced more than 100,000 AR glasses, making it the world's first consumer-oriented AR hardware company to cross the mark.With sales in China, Japan and the United States, the shipment of Nreal's AR glasses exceeded 70,000 units in the fourth quarter of 2022.According to Xu, the company's technological advantages lie in the fields of 3D perception algorithms and optical technology. It has set up an optical manufacturing base in Wuxi, Jiangsu province, to develop display modules. More than 60 percent of its staff members are involved in research and development, and nearly a quarter have overseas work experience.David MacQueen, executive director of Strategy Analytics, said Nreal is driving the consumer AR market and has found a sweet spot for both price — 9 — and functionality.Meanwhile, the company has been stepping up efforts to beef up AR content. It has partnered with video streaming platforms iQiyi, Migu — the digital content unit of China Mobile, electric carmaker Nio and short-video platform Kuaishou to develop customized AR content.Nio, for instance, has cooperated with Nreal to develop customized glasses that can project an effective 201-inch screen at six meters, as the carmaker aims to provide passengers with an immersive visual experience in its latest SUV models.AR technology imposes digital images over the real world, while VR is used to create a purely immersive digital experience.AR and VR form a key component of the metaverse — a trending concept that loosely refers to a world of endless, interconnected virtual communities where people can meet, work and play, using such technologies as VR headsets and AR glasses.Other Chinese AR and VR companies such as Pico are also stepping up to expand their market presence. Pico, owned by tech company ByteDance, is working to popularize VR with its Pico 4 series. Here is shan dong 編輯： 宋基金 閱讀量：559
