CMG inaugurates animation tech center in Beijing's Shijingshan District

China Media Group (CMG) on Tuesday inaugurated an animation technology innovation center in Beijing's western urban district of Shijingshan, aiming to deepen the integration of ultra-high-definition (UHD) audiovisual technologies with artificial intelligence generated content (AIGC).

The center represents the first major outcome under a cooperation framework agreement signed between CMG and the People's Government of Shijingshan District.

The agreement is designed to leverage CMG's technological strengths in UHD audiovisual systems, media large models, and AIGC, alongside Shijingshan's established industrial foundation and spatial resources in the "technology + culture" sector, to nurture specialized industries, accelerate the commercialization of sci-tech achievements, and incubate high-value intellectual properties.

"Drawing on the successful experience of CMG's audio-visual media large models in animation production in recent years, the center will tackle key technical challenges in applying AIGC to animation creation, with the goal of achieving industrial-grade animation production characterized by high quality, precision, and stability. We will build an animation technological innovation platform that connects industries, universities, research institutes, and end-users. We will also adopt a cloud-service model to propel the integrated development of culture and technology," said Zhao Guihua, deputy director of the CMG Technology Bureau.

"By leveraging the technical expertise of the CMG's National Key Laboratory, along with its content resources and brand influence, we will accelerate the formation of an integrated industrial ecosystem covering technology research and development, achievement translation, and practical application. This effort is intended to attract upstream and downstream enterprises in animation and intelligent technology, with the vision of establishing a high-standard hub for cultural and technological convergence," said Li Wenhua, deputy district mayor of Shijingshan.

CMG inaugurates animation tech center in Beijing's Shijingshan District

As much as 37 percent of Americans saw their debt increase during this year's holiday shopping season, with average debt rising to 1,223 U.S. dollars from 1,181 dollars last year, according to the latest holiday debt survey of LendingTree, the nation's online loan marketplace.

The survey, conducted earlier this month among more than 2,000 U.S. consumers, found that rising tariffs and higher prices have put additional pressure on household budgets.

In a statement, LendingTree's chief consumer finance analyst Matt Schulz said the strain becomes more pronounced during the holiday season, as many consumers are reluctant to change long-standing shopping traditions, even as costs rise, leading to higher debt levels.

According to the survey, 63 percent of borrowers expect it will take three months or longer to repay their holiday-related debt, while about 41 percent said they are still paying off debt from last year. Schulz warned that if borrowers need six months to a year or more to repay their balances, the situation becomes more serious due to high credit card interest rates.

Data from Bankrate show that the average U.S. credit card interest rate currently exceeds 20 percent.

Meanwhile, U.S. consumers have grown increasingly pessimistic about their financial situation. Data released on Tuesday by The Conference Board showed that the U.S. Consumer Confidence Index fell for the fifth consecutive month in December, dropping to 89.1, the lowest level since April, amid deepening anxiety over jobs and income.

Over one-third of Americans rack up holiday debt: survey