China Consumption Market: Information consumption caters to evolving tastes

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In recent years, consumers' craving for information has soared in China, much of it the result of software products and services. And companies are using the latest technologies to cater to the evolving tastes of customers. CGTN's Meng Qingsheng reports.

With the growing popularity of the internet, information consumption has become a driving force of China's economy making life easier.

Chi Suying enjoys the convenience brought with a simple click on a set-top box at home. The 64-year-old is getting medical advice from her doctor about a sore throat.

CHI SUYING CHENGDU RESIDENT "If without the device, I have to go to hospitals and see the doctors in person. But now, I can talk with them directly and evaluate my symptoms in advance. I think this is just what for people at my age need."

This interactive box combines internet-based content providers with customers, allowing them to access such things as local newscasts, entertainment, e-commerce and online learning.

Each month, people pay a minimum cable fee of six dollars, with extra charges for additional services. The company behind this business model is Sichuan Cable TV Network.

LI LI, VICE PRESIDENT SICHUAN CABLE TV NETWORK "We began to shift toward an interactive information consumption model in 2012. Now, it has taken up more than 60 percent of our annual income. As the business develops, it's going to rise above that."

In 2018, China's information consumption volume has reached 720 billion dollars, with a 10 percent growth year-on-year. The country aims to boost it to nearly 870 billion dollars in 2020, with an annual growth rate of at least 11 percent.

MENG QINGSHENG CHENGDU "China has been working to promote new applications and patterns of information consumption in recent years. Some of the most popular fields include smart retail, creative design and short-video sharing. And a key technology used to achieve that is cloud services, which involves more than 400-thousand companies nationwide."

XGIMI is one of them. Founded in 2013, the company is China's biggest manufacturer of smart projectors and laser TV products. It provides home theatre experience to customers, with high-quality images and sound effects.

GUO XUEQING VICE PRESIDENT OF XGIMI "As our company produces home equipment, we provide all necessary information, based on customers' needs. We put the company's technological data on a public cloud, so that we can provide customized services more quickly and efficiently."

China is pushing for innovations in the fields of wearable devices, consumer drones, virtual reality and intelligent service robots.

As internet speeds increase and connection costs drop, Chinese officials say the push for more information will only expand. Meng Qingsheng, CGTN, Chengdu, Sichuan Province.