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AI to boost growth of China's ICT sector in 2025: report

China

China

China

AI to boost growth of China's ICT sector in 2025: report

2024-12-24 21:32 Last Updated At:23:47

China's information and communications technology (ICT) industry will maintain growth in 2025, with artificial intelligence (AI) becoming a major booster to the sector, according to a forecast report released by the China Academy of Information and Communications Technology (CAICT) on Monday.

The latest data from the Ministry of Industry and Information Technology (MIIT) indicated steady growth in China's telecom sector in the first 11 months of 2024, with telecom revenues and total business volume rising by 2.6 percent and 10 percent year on year, respectively.

On Monday, the CAICT shared its forecast for 2025, predicting that the information and communications industry will sustain its growth trend, with the AI Plus initiative exerting more and more effects.

The country's government work report released in March this year unveiled an AI Plus initiative, a strategic move designed to propel the digital economy's expansion and spearhead the transformation and modernization of manufacturing sectors.

In an interview with China Central Television, Wang Zhiqin, vice president of the CAICT, said AI will continue drive the development of the relevant sectors going forward.

"In the next three years, China's ICT industry is expected to grow at an average annual rate of 8 percent. AI development has driven the advancement of computing power, chips, commuting terminals and AI networks. We hope the AI Plus initiative will lead to the establishment of pilot projects in key industries and scenarios," she said.

The Central Economic Work Conference held in mid December said the country will launch the AI Plus initiative next year.

Industry experts say they believe this initiative will first target sectors with abundant data conditions, such as research, industrial manufacturing, Internet of Vehicles and healthcare.

MIIT officials revealed that China's computing power now ranks the second globally, with intelligent computing accounting for more than 30 percent of the total.

"We will make forward-thinking arrangements for cutting-edge technologies such as 6G, AI and quantum information to promote in-depth integration of industrial big models at all stages, including research and development, production, pilot testing, service, and management, helping enterprises in achieving smart transformation, digital upgrades and network connectivity," said Zhang Yunming, Vice Minister of the MIIT.

Furthermore, experts pointed out that the widespread application of AI will place higher demands on network infrastructure. A major focus for the upcoming year will be the development of intelligent computing wide-area networks, which are crucial for supporting AI-driven innovations.

AI to boost growth of China's ICT sector in 2025: report

AI to boost growth of China's ICT sector in 2025: report

The surge in fuel prices triggered by the U.S.-Israeli war on Iran has squeezed fishermen's profits in Spain, putting thousands of fishing industry jobs in peril.

The war in Iran has been raging since February 28, disrupting shipping in the Strait of Hormuz, through which around 20 percent of the world's oil traverses, causing oil prices to increase.

In Spain, some fishermen are now questioning the future of their business amid skyrocketing diesel costs. Lucas Ramis, who recently invested in a new boat, said the high price of fuel is putting his livelihood at risk.

Spain is the world's largest octopus market, consuming as much as 85,000 tons annually. Despite this vast market, Ramis said they sometimes haul in as little as 10 kilograms of octopus, which is barely enough to cover the cost of starting the engines.

"Today, going out to work costs more than the work itself," said Ramis.

"Many people moor their boats on the shore, while people like us have to go out to work," he added.

The Spanish government announced a six-billion U.S. dollar aid package in March to alleviate the effects of the fuel crisis resulting from the Iran war, including around 30 million dollars for the fishing industry.

However, continuing volatility means prices could stay high and some say the subsidies sometimes don't reach their targets.

"The fuel price has seen a real rise of over 80 percent. We are drowning in taxes and rising costs, and we need this government help now. Some of the aid is actually loans, but no one will take out loans now with this instability and how indebted this industry already is. You don't see much happiness around here," said Domingo Bonin Bautista, president of Balearic Fishery Workers' Association.

Soaring fuel costs from Iran war squeeze fishermen's profits in Spain

Soaring fuel costs from Iran war squeeze fishermen's profits in Spain

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