南京喝茶服务2021

　　　　HiFi has always been a hot topic, and many mobile phones released recently are also focusing on HiFi sound quality: those using ES9318 DAC+ two-in-one audio chip, those using AKM HiFi chip and equipped with HUAWEI histen sound effects, and those supporting Bluetooth aptX & aptX HD HD music transmission, etc., all prove that mobile phone audio has always existed in an important position in the industry. So what is HiFi? What are the technical indicators of HiFi? What are the types of common mobile phone HiFi chips and what are their performances? You will know after reading this article.

Mobile phone HiFi, hi, no, hi. After reading these, you can be considered into the pit.

　　　　The full name of HiFi is High Fidelity, which literally translates as "high fidelity". To put it bluntly, it is a playback sound that is highly similar to the original sound. Spreading digital music on the network often needs to be suppressed, and there will be lossy and lossless compression. What we often see is that MP3 is a kind of lossy compression, which will affect the sound quality. Playing music is to convert digital signals into analog signals, and then amplify the analog signals and transmit them to headphones or speakers. HiFi is to make the final music close to the sound that the producer wants you to hear after production, that is, the sound quality is good.

　　　　Of course, sound quality and sense of hearing are not the same concept. The reason why audio is a metaphysics is that the sense of hearing varies from person to person, so there are "golden ears" and "fungus", and headphones or stereos of audio terminals will have different output performances because of various differences. At the same time, things like dolby pro logic and SRS sound effects all create distortion to improve the sense of hearing. The mobile phone HiFi we are talking about here is more about what kind of audio output the mobile phone as the output front end can have.

What are the common technical indicators of HiFi?

　　　　For audio veterans, mobile phones as the front end are often dismissive, because there is an irreparable hardware gap between mobile phone HiFi and professional audio, which the author will mention later. But for ordinary consumers, a carefully designed mobile phone with audio system is enough as a toy for getting started with audio.

　　　　I believe that there are not a few users who listen to songs on their mobile phones, but not many people know about HiFi. Moreover, when they go to see professional audio evaluation, there are many technical indicators that they can’t understand, but those who know audio are unwilling to explain more. The common technical indicators of sound system are: frequency response, signal-to-noise ratio, dynamic range, distortion, transient, stereo separation, stereo balance, audio sampling and so on. Here the author explains it separately.

　　　　frequency response: The frequency range of audio equipment during playback and the relationship between signal amplitude and frequency (amplitude-frequency characteristics). The unit of amplitude is dB, and the unit of frequency is Hz. The frequency response of the sound system should reach at least 32-18000Hz, and the signal amplitude change should be less than 2dB within this frequency range.

　　　　SNR: Logarithm of the ratio of useful signal to noise at the same reference point. At the input point of the speaker, the signal-to-noise ratio is 70dB, and the noise of one meter away from the speaker is almost inaudible, and the HiFi system generally reaches above 110dB.

　　　　dynamic range: Logarithm of the ratio of the maximum undistorted output power of audio equipment to the static system noise output power. HiFi system generally reaches more than 100dB.

　　　　degree of distortion: The degree of distortion of sound source signal when audio equipment plays back. The distortion of audio power amplifier can be divided into two categories: electrical distortion and acoustic distortion. The electrical distortion is caused by the circuit, and the acoustic distortion is caused by the speaker of the sound reproduction device. The types of electrical distortion are harmonic distortion, intermodulation distortion and transient distortion. Acoustic distortion is mainly AC interface distortion. The harmonic distortion of HiFi system is generally less than 1%.

　　　　stereo isolation: the separation degree of the left and right channels. Reflect the crosstalk degree of the left and right channels.

　　　　Stereo balance: The difference between the signal gains of the left and right channels.

　　　　transient stateRefers to those short and explosive sounds in music (especially percussion), which are usually difficult to reproduce accurately. Represents a physical quantity or phenomenon that changes between two adjacent stable States, and its change time is less than the time scale of concern.

　　　　Audio samplingDigital audio system reproduces the original sound by converting the sound wave into a series of binary data. The equipment used to realize this step is analog/digital (A/D), which samples the sound wave at the rate of tens of thousands of times per second, and each sampling records the state of the original analog sound wave at a certain moment, which is called a sample. A string of samples can be connected to describe a sound wave, and the number of samples per second is called sampling frequency or yield, and the unit is HZ (hertz). The higher the sampling frequency, the higher the acoustic frequency can be described.

Some audio chip parameters (picture quoted from love machine)

　　　　Signal-to-noise ratio, stereo separation and stereo balance can be distinguished by human ears, and other indicators need to be compared by multi-system comparison. Knowing this, it is not so difficult to understand when we look at the technical parameters of those mobile phone audio chips.

What are the common evaluation elements of HiFi we are talking about?

　　　　When watching audio evaluation, it is often confusing for beginners, because they don’t know what those evaluation elements mean. Although it is only a piece of music, there are many doorways. So here, the author selects three common evaluation factors to explain: sound resolution, frequency band and sound stage.

Sound resolving power

　　　　Analytic power intuitively means the clarity of sound and the expressive ability of detailed information. For example, this is like the resolution of a display screen. The higher the resolution, the clearer the picture, and the same is true for audio equipment. However, there is no clear quantitative index to measure it, so we can only rely on the human ear for subjective evaluation.

The higher the resolution, the more details we can "see" (picture from bilibili)

　　　　The analytical power of equipment has a comprehensive influence on human ears, including the cleanliness of the sound floor, the performance of overtones, the saturation of timbre, the clarity of sound image form, the texture of sound, etc. Simply put, it is "the ability to analyze musical details without losing information". HiFi is mostly exposed to the analytical power of earphone units. The resolving power of earphone unit is mainly related to the material, thickness and coil technology of diaphragm, which requires high technology and is a large part of the investment in R&D by manufacturers, thus directly determining the R&D and production cost of the unit.

　　　　In addition to the clarity of sound and the amount of detailed information, the benefits brought by high resolution are obvious separation of human voices and musical instruments. The so-called degree of separation is the layering of music. The better the layering, the easier it is for us to distinguish between human voices and background music, and the voices with low degree of separation will be mixed with instrumental sounds.

　　　　Of course, the degree of separation can be adjusted to a certain extent, such as reducing low frequencies and highlighting middle and high frequencies, so that the details will be clear, but the problem is that the amount of information in low frequencies is reduced, and then the music will appear thin.

　　　　But too high resolution will also bring problems, that is, distortion. Generally, earphones with higher price will have higher resolution, but the resolution will be seriously distorted simply by improving the sensitivity of the unit diaphragm to current, so the resolution of low-resistance earphones will not be set too high, because the front-end (power amplifier circuit) has limited control power, and strong resolution will bring greater dynamic distortion, which is why high-end earphones are mostly high impedance.

Sennheiser HD650 with 300 ohm impedance

　　　　However, the portable mobile phone HiFi has the problem of insufficient thrust. The larger the impedance, the smaller the sensitivity, and the harder it is to push the earphone. Therefore, it is not a wise choice to buy high-impedance high-end headphones only by looking at the price. The most serious consequence of insufficient thrust is that the music is poor in dynamics, and all the detailed sounds heard at the same time will be displayed in one plane, with no ups and downs in sound, no contrast in vocal instruments, lack of emotion, and the image is just like boiled water, which is seriously distorted. In a high resolution system, besides the unit quality, the control ability of the front-end system is particularly important.

frequency band

　　　　The so-called capacity distribution of high, medium and low frequency bands refers to the quantity of each frequency band within the frequency range that the equipment can emit. Some equipment has more high-frequency bands, some have a strong sense of low frequency, and some middle-frequency bands are particularly full of voices, but the amount of high and low segments is not so much.

　　　　The requirements of high frequency for each kind of listening and everyone’s listening habits are different. For music, it is not sharp to go up to the frequency band reached by music itself, that is to say, it can be said to be excellent if it is not stuffy and lubricated; It is very difficult to connect the intermediate frequency with the high frequency and low frequency. Almost all earphones can’t perfectly interpret the thick bass and thin soprano, and at the same time perfectly interpret the characteristics of each musical instrument. Low frequency is the most difficult frequency band to do, and it is not easy to do well in dive, elasticity and overtone during playback, so high-end headphones and earplugs are all working hard in this respect.

　　　　There is no absolute difference between the quantity sense of each frequency band and the quality sense. What is important is to achieve a balance after the overall collocation. The control of each frequency band tests the ability of audio equipment, such as whether the low frequency is loose or tight, whether the high frequency is lubricated or sharp, and so on.

Sound stage

　　　　Sound stage is the range in which the sound emitted by two speakers can be condensed and formed. Usually, if the two speakers are properly positioned (including the distance from the back wall and side wall, the height of the speakers and the angle of tilting inward, etc.), a concrete sound stage will emerge. You can even "see" the positions and distances of various vocal instruments and voices behind the speakers. To put it bluntly, it is an immersive listening experience.

Sound stage’s feelings have a lot to do with the sound layout (picture quoted from Baidu Encyclopedia)

　　　　Theoretically speaking, the reason why human ears can feel the sound field is because of the loudness difference and time difference between the left and right ears. The louder the sound channel is, the closer it is to the human ear. The loudness difference between the left and right ears enables the human ear to identify the sound source. At the same time, the delay of sound (residual sound) further enhances the three-dimensional sense of sound.

　　　　But it is not easy to form a good sound stage. Because the human ear is sensitive to different frequencies, not all frequencies can distinguish the distance and orientation, and about 7kHz is the most sensitive, while the extremely high frequency and extremely low frequency sounds have no directivity or very weak directivity. Relatively speaking, low-frequency directivity is worse, and low-frequency delay is a key quality for field experience.

　　　　In addition to the field sense of sound range (width and depth), the image cohesion is also a major index to evaluate sound stage. The shape, three-dimensional degree and sense of distance of the sound are the concrete manifestations of the cohesive force. The image is to see the performance site through the sense of hearing. Different musical instruments or vocals have different positions, sizes and characteristics. What is included in the fundus is a collection of all musical instruments and vocals, but they exist alone. You can see the individual characteristics of each of them or musical instruments.

Sound stage’s excellent knot is like being at a concert (picture quoted from Southern Metropolis Daily)

　　　　The requirement of image-forming power on audio system is relatively high, which is not only related to the hardware quality and sound quality adjustment of the front end, but also the image-forming power displayed by different headphones is very different. High-performance equipment combined with optimized adjustment can show excellent presence, but for HiFi, which is only an additional function, it is a very severe test, whether from hardware support or adjustment.

　　　　Of course, in addition to these three common evaluation indicators, there are many directions for evaluating audio, such as the proportion of musical instruments and the overall balance, but after understanding the above three evaluation factors, we can understand most of the audio evaluation.

What are the code names of HiFi? What are the reasons that restrict mobile phone HiFi?

HiFi system of Xiaomi Note

　　　　When we look at manufacturers’ promotion of HiFi selling points, there are always words such as DAC, ADC and operational amplifier. But for audio white, it is often confused. Here’s a brief introduction to common terms and expressions: ADC, SRC, DAC, and operational amplifier.

Texas Instruments 51AP8LI ADC3001 audio conversion chip (picture quoted from love machine)

　　　　ADC stands for analog-to-digital signal coding chip.This device is rare in the promotion of mobile phone HiFi, and it is mainly used for audio input.

Independent double clock crystal oscillator

　　　　The sampling rate of CD is 16bit, 44.1K, and there are other sampling rates such as 48k, 96K and 192K. However, in the later processing, only one type can be processed, so a conversion is needed, and this conversion process is called SRC.This process can easily deteriorate the sound quality. Need special attention, this is a key point for smart phones to do HIFI. Such transcoding chips (such as CS8422) are expensive. At this time, an independent dual-clock crystal oscillator appears, which perfectly solves this problem: one corresponds to 44.1K, the other corresponds to 48K and its integer multiples, and what crystal oscillator is used for music in any format, which solves the SRC problem at low cost.

ES9018K2M　DAC

　　　　DAC is a relatively common component, representing a digital-to-analog signal decoding chip, and is a device for converting digital format audio files stored in mobile phones into analog signals.This is the independent audio chip that most mobile phone manufacturers promote, such as ES9018 K2M of Meizu PRO6 Plus. The quality of DAC often represents some quality parameters of the front end, such as dynamic range, signal-to-noise ratio, distortion and so on.

"539Y5P" is the AD45257 operational amplifier chip.

　　　　DAC completes analog signal conversion, but the output analog signal is very weak, and then the operational amplifier starts to operate.The full name of operational amplifier is operational amplifier. In the field of multimedia speakers, the operational amplifier chip is mainly responsible for the adjustment of volume, tone and peripheral effects., for example, integrated operational amplifiers are used in the front stage of audio and headphone amplifiers (amplifiers). For example, the common OPA1612 and OPA2604 are operational amplifier chips, and multiple operational amplifier chips can be integrated in one amp.

　　　　At present, most of the audio chips used in HiFi mobile phones on the market come from AKM and ESS. Here are some typical examples:

AK4490EN chip

　　　　AK4490EN is an ideal audio chip for mobile devices, which supports 32-bit/768 kHz source code output and high-specification 11.2MHz DSD files. Represents action.

ES9018K2M chip

　　　　The ES9018K2M chip has a dynamic range of 127dB, which can fully display the details of music. The ultra-low distortion of -120dB THD+N can better restore the essence of music.

　　　　Equipped with ES9038Q2M and three OPA1622 operational amplifiers, it has a dynamic range of 129dB and a distortion of -120dB, and supports DSD hardware decoding.

ACS43L36 decoding and ear amplifier integrated chip

　　　　Of course, in addition to these two chips, CirrusLogic decoding and amp integrated chip CS43L36 has also appeared on Meizu’s PRO 6, and basically all the audio parts involved in PRO 6 are controlled by it.

　　　　Although HiFi mobile phone is equipped with professional audio chip, it has a certain gap with high-quality walkman in terms of resolution, dynamic response and thrust. The reason is that the power supply scale, decoding chip specifications and the number of operational amplifiers are not as good as the latter. For example, the ES9018K2M mentioned just now is actually a scaled-down version of ES9018, which is a low-power version specially customized for mobile devices. The former is dual-channel and the latter is 8-channel. Whether it is dynamic range or signal-to-noise ratio, ES9018 is far better than ES9018K2M. The main reason why enthusiasts don’t want to use mobile phones to listen to high-quality headphones is because of the thrust of mobile phones on headphones, and they can’t give full play to good headphones.

In which direction will HiFi develop?

　　　　At present, limited by the circuit structure and power supply of mobile phones, there is still a long way to go to equalize the sound quality of professional equipment. Of course, we do not rule out the possibility of improving the battery technology of mobile phones, further optimizing the circuit design, and further controlling the heat and power consumption by high-quality audio chips, but it will be difficult to achieve it for a while.

It is also beneficial to integrate the decoding operational amplifier into the earphone.

　　　　In addition, mobile phones are gradually developing towards thinness, and the contradiction between battery capacity and chip power consumption is increasingly prominent, and there are signs of canceling the 3.5mm headphone jack in a large area. The most typical is the series of mobile phones. The 3.5mm earphone interface is cancelled, and the Lightning data interface can only output digital signals, and the decoding and operational amplifier will be integrated into the earphone. Although the high-end audio circuit can be used without signal interference compared with mobile phones to further reduce the noise floor, the power consumption of headphones is serious, and the high-integration decoding and operational amplifier will damage the sound quality output to some extent, and unreasonable circuit design will also produce certain noise floor.

Active noise reduction principle

　　　　Fortunately, there are still many remedies for mobile phone HiFi. For example, better audio technology is adopted at the earphone end. For example, 1MORE’s Tiinlab A2 exclusive active noise reduction chip can adjust the frequency band for noise reduction with broadband EQ as a supplement, and at the same time, it has a very good adaptability, such as Lightning and USB Type C digital interface. Thanks to the self-planned Tiinlab A2 exclusive active noise reduction chip, 1MORE full-time noise reduction technology achieves a perfect balance between noise reduction effect and sound quality. Tiinlab A2 is in the range of 50-2000Hz, which has covered most business and life frequency bands, which is wider than the frequency band where most noise-reducing headphones are only concentrated within 1000Hz, but at the same time, the noise reduction depth is controlled, and the inhalation feeling will not be too strong.

　Intelligent sonar earphone

　　　　Another interesting thing is HTC’s HTC USonic smart sonar headset. This earphone uses sonar to sense the cochlear structure, feeds back the signal to the mobile phone, makes custom adjustment according to the specific shape of each ear, and then outputs lossless timbre through USB-C interface, providing a good audio experience.

MDR-XB950BT Bluetooth Headset

　　　　At the beginning of this article, we mentioned that one plus five supports aptX & aptX HD HD music transmission. Undoubtedly, wireless Bluetooth will also be one of the solutions for future mobile phone HiFi. At present, the main quality standards of Bluetooth audio coding are SBC, AAC, aptX and LDAC from low to high. SBC has the best compatibility and the worst sound quality. AAC is relatively better. If the mobile phone plays AAC audio files, then using AAC Bluetooth coding transmission can save a coding conversion step, and the sound quality is more fidelity, but the gap is not small. AptX is a higher Bluetooth audio coding, and aptX-HD can achieve near lossless sound quality. LDAC is a Bluetooth audio coding promoted by Sony, which can achieve -Res lossless audio transmission and has the best sound quality. However, apart from Sony’s own equipment, there are not many supporting this coding at present, but it is the future development direction.

Write it at the end

　　　　After reading the above contents, I believe everyone has a certain understanding of audio and mobile phone HiFi. Although these are only nine Niu Yi hairs in the audio industry, after understanding these, we can roughly understand what level of mobile phone HiFi is promoted by mobile phone manufacturers, and we can also have some basic knowledge support when choosing headphones. Of course, it should be kept in mind that even when purchasing headphones for HiFi mobile phones, you can’t just look at the price. After all, the thrust of mobile phones is limited, and different headphones have different styles. The right combination of front and rear ends is the best choice.

　　CCTV News:Recently, Ms. Zhang, a consumer in Beijing, bought low-priced postage goods in two stores of an e-commerce platform. She can’t help but wonder: How do individual travelers send a courier to 10 yuan or so, and how do businesses guarantee such low-priced goods?

　　Merchants would rather lose money in marketing and attract consumers.

　　According to a reporter’s investigation, low-priced package goods are very common in major e-commerce platforms, especially "9.9 yuan package" has become a word that consumers are accustomed to. But questions like Ms. Zhang’s are common among consumers.

　　Ms. Zhang told reporters that she asked the owners of two stores afterwards. Both shopkeepers said that the low-cost package was to attract consumers and sell at a loss.

　　 Marketing at a loss, don’t businesses make money?

　　Yao Jianfang, an analyst at the E-commerce Research Center, told reporters that the fundamental reason for the existence of low-priced postal goods is that businesses are profitable. Online shop operation flow is king, and low-cost postage can be used as a good drainage method, which is lower in cost than other means of burning money. Compared with violations such as brushing a bill, it is better to post some money for promotion.

　　The reporter searched for "garbage bags" on an e-commerce platform. According to the comprehensive ranking, the turnover of garbage bags below 10 yuan and including postage was as high as 200,000 to 300,000. Of course, there are also stores with slightly higher prices and no postage.

　　Even if it is a low-cost package, not all businesses are making money at a loss.

　　Yao Jianfang explained that in order to make money by low-cost package, it is necessary to have low-cost purchase channels and control purchase costs.

　　Long-term cooperation with courier companies to keep the courier cost to a minimum. The sum of the prices of these two parts is controlled below the sales price. If the goods are sold enough and even become explosive, the profit will be considerable.

　　How does the courier company make money?

　　A courier practitioner said that for customers with large orders, they adopt a monthly settlement method, and the price is different from the usual zero order. Pricing varies from province to province. The nearest place within 3kg is generally 4 yuan, and the price of some courier companies may be lower. Some express outlets increase their business volume by collecting a lot of money, which can not only make small profits but also expand their right to speak.

　　Mr. Huang of Beijing bought a pair of scissors for 6 yuan postage online. Afterwards, he found on a wholesale website that the lowest wholesale price of this pair of scissors can be around 2 yuan. The reporter noticed that the commodity link of this pair of scissors shows that its monthly sales volume is 15,000, and the total sales volume has exceeded 100,000. Even if a pair of scissors can’t earn 1 yuan money, the total profit can be counted.

　　Have you inadvertently walked into the business routine?

　　In addition to small profits but quick turnover, low-cost postal merchants have other ways to make money. Common operations are:

　　Selling low-priced postal goods is accompanied by advertisements for other goods in the store, and making money through the sales of other goods;

　　After attracting attention and brushing traffic through low-cost postage, replace the goods with high-priced goods or raise prices step by step;

　　Set multiple specifications labels under a link, and consumers will find multiple styles and specifications when they enter the link through low-priced goods, thus improving the exposure rate of high-priced goods;

　　Even some merchants don’t tell consumers the specific content of low-priced goods in the name of "blessing bags", but consumers find that they are inferior goods after receiving the goods. (This article Source: Workers Daily)

　　Producer/Editor-in-Chief Tang Yi/Li Zhe

　　Editor/Lv Xiaopin Qin Jing

　　(Editor Xie Xianfeng)

　　Fuzhou News Network July 19 (Fuzhou Daily reporter Mo Siyu Jun Wu) The renovation project of Red Star in Taijiang District and its surrounding old houses ushered in new progress. The reporter learned from Taijiang District on the 19th that at present, more than 3,000 residential houses involved in the project have been completely relocated and demolished, with a total construction area of more than 960,000 square meters, and the collection has entered the final stage.

　　The renovation project of Hongxing and its surrounding old housing areas is the largest old housing area renovation project within the Second Ring Road of our city at present. The total number of households involved in relocation is 7858, and the total area of houses to be expropriated is about 1.003 million square meters. The expropriation was officially started on September 18, 2017.

　　"Finally wait until this day!" Guo Dajie, who originally lived in Hongxing New Village, expressed the voices of many relocated households. Although the plot is located in the central city, it is a mixture of private houses, old prefabricated new villages, industrial warehouses, unit dormitories, etc. The housing density is high and the population is dense, and the public supporting facilities are obviously lagging behind. The voice of the masses for old reform is very strong.

　　Chen Jinhuo’s family of 11 people in Paiwei Community is crowded into an old house of 109 square meters, and Liu Ruihua’s family in Yangzhongli is always on tenterhooks every typhoon day … In the renovation project of old houses in Hongxing and surrounding areas, there are not a few families like them who live in high density and look forward to improving housing conditions.

　　7858 households, such a heavy collection work, how to implement it scientifically and efficiently? The "five in one" harmonious expropriation of "scientific expropriation, joint expropriation, efficient expropriation, sunny expropriation and tender expropriation" is the answer given by Taijiang District.

　　Zhu Teng, deputy head of Taijiang District, told the reporter that the plot was divided into four areas, A, B, C and D, each of which was covered by four teams in the district. Nearly 500 cadres and workers from 10 streets in the whole district have formed more than 20 working groups, all of which have been pressed to the front line, and have gone deep into households and units under their jurisdiction to carry out publicity and mobilization, forming a strong joint force to promote the work.

　　Whether it is the 89-year-old elderly who are hospitalized in Minhou or the property owner who is serving a sentence in Wuyishan, as long as the people need it, the collection staff always overcomes all difficulties to provide them with on-site services. "We hope that through on-site service, those people who have difficulties can understand the policy, dispel their doubts and truly trust us, thus promoting the development of land requisition and relocation." Zhu Teng said.

　　It is precisely under the promotion of the "five in one" collection that up to now, 7,852 households have been relocated in the renovation project of Hongxing and its surrounding old housing areas, with a total of 28,767 people relocated. The houses of the households involved have been completely relocated and demolished, and only the production of the remaining six provincial and municipal units is still being coordinated.

　　According to reports, the renovation project of Hongxing and its surrounding old housing areas involves 321.15 mu of administrative office land, educational and scientific research land, social welfare land, water system land and urban road land, which can be used to build 443.85 mu of resettlement housing land. According to the latest planning of the Municipal Planning Bureau, more than 700,000 square meters of resettlement houses can be built.

　　"The renovation and post-development of the old housing area can not only improve the living conditions of the people in the region, but also further develop the high-end commercial industry and create a new commercial center and emerging urban complex in Taijiang." Zhu Teng said.

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Text/Sina Financial Opinion Leaders Column research institute　

5G may bring new kinetic energy to the next wave of economic growth and have a positive impact on various industries around the world. The vertical application of the three technical scenarios of 5G in the fields of cloud (cloud computing), network (communication network) and terminal (intelligent terminal) will accelerate the digital transformation of traditional industries and bring certain industrial investment opportunities.

■ 5G is the core engine leading the innovation and development in the information field. Historically, countries with the first-Mover advantage in mobile communication have gained huge economic benefits. 5G may bring new kinetic energy to the next wave of economic growth and have a positive impact on various industries around the world. The vertical application of the three technical scenarios of 5G in the fields of cloud (cloud computing), network (communication network) and terminal (intelligent terminal) will accelerate the digital transformation of traditional industries and bring certain industrial investment opportunities.

■ 5G network construction drives capital expenditure into a new rising cycle. The construction of 5G network has gone through three stages: standard setting, spectrum auction and investment construction. Choosing the construction path of different frequency bands may determine the success or failure of 5G network investment. Global operators actively deploy 5G network construction, and China, South Korea and Japan lead the global 5G commercialization. With the landing of China’s 5G commercial license, the scale construction and commercialization of 5G have begun. It is estimated that China’s 5G network investment will exceed one trillion, and the investment opportunities of China’s communication equipment enterprises and their supply chains are significant.

■ Diversification of 5G terminals brings medium and long-term investment opportunities. From the perspective of industrial development path, 5G terminals will gradually evolve from the consumer terminals of the Internet of People to the Internet of Things terminals of the Internet of Everything, and the terminal types are diversified. The maturity of the supply chain has driven the rapid development of the consumer terminal market. In the next three years, 5G mobile phones are expected to usher in explosive growth, and the scale of the 5G terminal market will far exceed the scale of investment in 5G networks. The terminal market of Internet of Things will maintain a long-term high growth rate, and the terminal markets of smart home, car networking and industrial Internet of Things have medium and long-term investment opportunities.

■ 5G industry cloud has long-term development prospects in the vertical field. From the perspective of application scenarios, 5G promotes the convergence of cloud network services, and gradually evolves from a cloud platform that provides virtualized basic resources to an industry cloud in a typical vertical field. 5G not only continues to drive the rapid growth of data center infrastructure, but also further integrates with education, security, entertainment, finance, energy, industry and other fields to create new kinetic energy for economic development.

In the past 40 years, a new generation of revolutionary technology has emerged in mobile communication every decade. The new technology has continuously promoted the rapid development of the information technology industry and promoted the prosperity and development of all fields of the global economy and society.

The fifth generation mobile communication technology (5G) has arrived. As the infrastructure of the new generation information industry, 5G network has three characteristics: ultra-high speed, ultra-large connection and ultra-low delay. The construction of 5G network will accelerate the development of upstream and downstream industrial chains such as communication, electronics, computers, semiconductors, Internet, artificial intelligence and big data, and drive the digital transformation of vertical industries such as industry, automobile, energy, medical care, finance and public utilities. The Internet of Everything changes the mode of production and organization of human beings, and intelligent manufacturing promotes the optimization of industrial structure and efficiency, thus promoting the transformation and upgrading of traditional industries and promoting the sustained and rapid development of the global economy and society.

This report starts with the impact of communication technology changes on global economic and social development, and analyzes the industrial maturity and investment opportunities of 5G in various fields from three aspects: cloud (cloud platform), network (communication network) and terminal.

1.5G is the core engine leading the innovation and development in the information field.

1.1 Countries with first-Mover advantage in mobile communication have gained huge economic benefits.

Countries with first-Mover advantage for each generation of mobile communication have a major share of the global market in their domestic industrial chains. Modern mobile communication originated from the concept of cellular network in 1970s. With the progress of science and technology in 1980s, the global mobile communication network developed rapidly. AMPS system, represented by Motorola, USA, led the global communication market in the 1G era by virtue of its technological advantages.

In the 2G era, Europe learned many lessons from the 1G era and took the lead in promoting the construction of 2G networks by adopting a unified GSM standard. European communication enterprises such as Ericsson, Nokia, Alcatel and Siemens rose up, leading the global industrial chain and bringing huge economic benefits to Europe. With the backwardness of the United States in the 2G communication market, Motorola, Lucent and other companies in the United States have stepped down from the peak of history.

In the 3G era, Europe thought the business prospect was unclear, hesitated on 3G deployment, and did not form an ecosystem of mobile phone industry. Japan seized this opportunity and made a profit in a brand-new way. In 1999, NTT DOCOMO, a Japanese operator, launched the i-mode mobile phone ecosystem, which provided internet services such as surfing, social networking and music. I-mode was launched eight years earlier than Apple’s iOS ecosystem, which brought huge commercial benefits to the Japanese industrial chain represented by NTT and NEC.

In the 4G era, the United States corrected its previous mistakes. The Federal Communications Commission actively carried out spectrum auctions and allowed operators to use frequency bands more flexibly to build networks. The birth and rise of Apple’s iPhone and iOS, as well as the global promotion of Android, laid the foundation for the global leadership of the 4G era in the United States. However, Japan’s i-mode system has not been promoted globally. From the early days of 4G, Japan kept pace with the United States, and the United States completely occupied the global control of 4G in the later period. What followed was that NEC, Panasonic, Toshiba and Fujitsu in the i-mode ecosystem gradually withdrew from the smart phone market, and international brands such as Apple, Samsung, Huawei and OPPO rose in an all-round way by relying on the iOS and Android eco-chains.

Figure 1: Development of Mobile Communication

Source: China Merchants Bank Research Institute

The Influence of Leading in the 4G Era on American Economy

America’s leading position in 4G has made great contributions to the American economy. In the 4G era, the contribution of the mobile communication industry to the GDP of the United States increased from the original forecast of $350.3 billion in 2016 to $445 billion. From 2011 to 2014, the number of jobs related to mobile communication increased by 84%. In 2016, the international revenue brought by 4G to American companies reached $125.5 billion. Among them, the income from equipment manufacturing and sales is 64.9 billion US dollars, the international income from application stores is 25 billion US dollars, and the international income from equipment components is 35.6 billion US dollars. The content revenue of the app store has also increased rapidly, from $8.2 billion in 2011 to $54.1 billion in 2016.

Figure 2: The influence of 2：4G on the GDP of American mobile communication.

Source: Recon Analytics, China Merchants Bank Research Institute

Figure 3: Impact of 3：4G on App Store Revenue

Source: Recon Analytics, China Merchants Bank Research Institute

Looking back on the development process from 1G to 4G, every country with leading mobile communication technology leads the global mobile communication market, and its domestic mobile communication enterprises occupy a major share in the world and have gained huge economic benefits. When these countries lost their leadership in mobile communication technology, their domestic communication enterprises suffered a blow. The development of a new generation of communication technology is expected to create new kinetic energy for the innovation-driven economy.

1.2 5G may bring new kinetic energy to the next wave of economic growth.

5G has a positive impact on the global economy

5G will have a positive impact on all industrial sectors. According to IHS Markit’s estimation, by 2035, the global output generated by 5G will reach $12.3 trillion. Among them, the manufacturing industry achieved an output of about 3.4 trillion US dollars (accounting for 28% of the total output), and the information and communication industry achieved an output of about 1.4 trillion US dollars, followed by wholesale and retail, public services, construction, finance and insurance, transportation and storage, professional services, hotels, agriculture, forestry and fisheries, real estate, education, public utilities, mining, health and social work, art and entertainment.

5G may make a great contribution to China’s economic output. According to the model calculation of China ICT Institute, in terms of output scale, the direct output and indirect output of China’s economy driven by 5G will reach 6.3 trillion yuan and 10.6 trillion yuan respectively in 2030. In terms of direct output, the compound annual growth rate in the past ten years is 29%. In terms of indirect output, the compound annual growth rate is 24%. From the contribution to economic added value, it is estimated that the GDP directly created and indirectly pulled by 5G will be 3 trillion and 3.6 trillion respectively in 2030. The compound annual growth rate of GDP directly created by 5G is about 41%; The compound annual growth rate of GDP indirectly driven by 5G will reach 24%.

5G has a conductive effect on social and economic development. 5G can stimulate various industrial sectors to increase digital investment, accelerate the digital transformation of traditional industries, promote business application innovation, expand the international market space of information products, and enhance China’s comprehensive advantages.

Figure 4: Global 5G Support Industry Output Forecast in 2035

Source: IHS Markit, China Merchants Bank Research Institute.

Figure 5: The Impact of 5：5G on China’s Economy

Source: China ICT Institute, China Merchants Bank Research Institute.

The three major scenarios of 5G continue to drive economic transformation and upgrading

From the development path of the global information industry, the Internet of Everything has to go through three stages: people, people and machines, and machines and machines. Judging from the development sequence of the three major technical scenarios of 5G, the first stage (2019-2021) takes people first, and the large bandwidth (eMBB) application scenario is the main one; In the second stage (2021-2023), human-computer interaction and mMTC Internet of Things applications rose in an all-round way; In the third stage (2023-long-term), all things are connected, and industrial control applications with low latency (uRLLC) are gradually maturing.

Figure 6: Three Application Scenarios of 6：5G

Source: China Merchants Bank Research Institute

The characteristics of 5G technology will catalyze three kinds of scenarios and accelerate the digital transformation of traditional industries. Compared with the single human-to-human communication scenario of 4G, 5G will support three scenarios: eMBB (Enhanced Mobile Broadband), mMTC (Large-scale Machine Communication) and uRLLC (High Reliability and Low Delay Communication). The main vertical application fields include industry, automobile, energy, medical care, finance and public utilities. The intersection of the three technical scenarios and vertical industries is expected to form a variety of application ecology between people and things, things and things, and promote the digital transformation and upgrading of traditional industries.

EMBB high-traffic mobile broadband scenario, to improve the network capacity to meet the needs of large bandwidth, the network peak rate can reach 1-10 G. The construction of 5G network in 2019-2021 is mainly to provide network services for eMBB scenarios. The 5G base station, transmission network and core network on the network side have great investment opportunities. Based on eMBB scenario, 5G terminals are diversified, and the categories of mobile phones, tablets, 4K/8K TVs, AR/VR terminals, security terminals and vehicle terminals are becoming more and more abundant. The application scenarios are more subdivided and diversified, and cloud AR/VR, cloud games, cloud video, cloud education, etc. provide life and entertainment services in large bandwidth scenarios.

MMTC large-scale Internet of Things scenario, which effectively supports massive Internet of Things devices access, and the connection density can reach 1 million/km2. In 2021-2023, the 5G network will be upgraded by NB-IoT, and the core network will be completely SA-independent. 5G terminals have exploded in many fields such as smart wear, smart home, intelligent transportation, and intelligent logistics. Cloud applications meet the needs of terminals, and there are platforms for Internet of Things segments such as cloud logistics, cloud transportation and cloud industry, which cooperate with the unified networking, management and operation of things.

The high-reliability and low-delay scenario of uRLLC belongs to the control application scenario, and the transmission delay can reach millisecond, which will be an important growth field of 5G. 5G network construction after 2023 will pay more attention to network slicing and edge computing capabilities, and provide ultra-low delay network capabilities; The 5G terminals in the uRLLC scene are mainly self-driving vehicles and industries.Intelligent equipment such as automatic control equipment and service robots; Cloud applications meet the needs of smart devices and provide control applications that meet the stringent requirements of the industrial Internet, such as cloud autopilot, cloud industrial control and cloud services.

1.3 Investment Path of 5G Industry　

From the development path of global information industry, 5G has certain industrial investment opportunities in cloud (cloud platform), network (communication network) and terminal (terminal) industrial chains.

Cloud platform develops from basic service to industry cloud service. In the past ten years, cloud computing technology has developed rapidly, and it has become a trend for enterprises to go to the cloud. The three basic service modes of cloud computing (IaaS, PaaS and SaaS) have been fully matured, and they are constantly expanding to the deeper industrial application field of XaaS. Focusing on the digital upgrade of vertical industry applications, 5G will promote the traditional vertical industries such as education, medical care, energy and industry to generate new cloud demand, and build a new intelligent cloud architecture with cloud network integration, edge cloud collaboration and comprehensive cloud services.

Figure 7: Industrial Topology of 7：5G Cloud Network

Source: China Merchants Bank Research Institute

The network layer advances from serving consumer terminals to the intelligent scheduling architecture of the Internet of Everything. In order to support the 5G characteristics of large bandwidth, large connection and low delay, key technologies and networking schemes such as new antenna air interface technology, large-scale antenna array, wireless network CU/DU (centralized/distributed) architecture, network slicing, edge computing and SDN (software-defined network) are adopted to create a new ecology for traditional vertical industries and open up huge value growth space for the industry.

The terminal layer is constantly spreading from consumer terminals to Internet of Things terminals in traditional industries. 5G terminals will be integrated with more and more industries, thus realizing more functions and services. New products such as wearable devices, smart homes, vehicle terminals, educational robots and service robots are constantly emerging, showing a diversified development trend in the future, accompanied by more and more Internet of Things applications, and the Internet of Everything will then push the terminal market into a new development height.

2.5G network construction drives capital expenditure into a new rising cycle.

The construction of 5G network has to go through three stages: standard setting, spectrum auction and investment construction. The progress of each stage directly affects the final completion and commercial operation of the 5G network, and choosing the construction path of different frequency bands may determine the success or failure of the 5G network investment.

2.1 5G standard spectrum landing promotes commercial acceleration

The 5G standard has gradually landed and commercial applications have been launched one after another.

The greater the contribution to the technology of the 5G standard, the more patents of 5G SEP, and the more dividends of the 5G industry will be shared in the future.

R15, the standard of large bandwidth eMMB scene, landed first. Judging from the freezing sequence of 5G standards, R15 has been frozen in the first stage, and applications that need large bandwidth, such as 4K live broadcast, security monitoring, VR video and so on, will take the lead in popularization and application, and related chips, network equipment and terminal industrial chain are all mature and have the conditions for large-scale networking construction.

Figure 8: 5 G standard promotion and industrial chain progress

Source: GSA, China Merchants Bank Research Institute

The standards for Internet of Things (mMTC) and low latency (uRLLC) scenarios will be discussed and improved in the second phase of R16 and R17 standards. At present, the Internet of Things is dominated by NB-IoT, LoRa and eMTC technologies, and it is expected that NB-IoT will continue to be adopted as the standard of 5G Internet of Things in R16 version to ensure the continuity of network investment and user services from 4G era to 5G era. The R16 standard will be frozen until 2020. The R17 standard will be established at the end of 2019, and the R17 standard will be frozen until 2022, and the maturity of related vertical industries is expected to be after 2023.

Chinese enterprises have the advantages of global 5G patents and standards. Judging from the global number of patent applications for 5G SEP (standard necessity) and the global contribution of 5G standard technology, China has become the first group of 5G in the world. SEP patent refers to the patent that is included in international standards and must be used in the implementation of standards, that is to say, when standardization organizations formulate certain standards, they must be involved. With a large number of 5G SEP patents, it has a strong industry leading edge. Judging from the contribution of 5SEP patents and 5G standard technologies, Huawei and ZTE have become the first group, and OPPO has entered the forefront of the world through years of advanced layout and active R&D investment. The advantages of 5G patents and standards lay a solid foundation for future industry competition.

Figure 9: Global patent applications for 5G SEP (July 2019)

Source: IPlytics, China Merchants Bank Research Institute.

Figure 10: Global 5G standard technology contribution (July 2019)

Source: IPlytics, China Merchants Bank Research Institute.

With the acceleration of global spectrum auction, network investment is imminent.

In order to speed up the construction of 5G, countries around the world have accelerated the auction of 5G spectrum. The coverage of 5G network needs the spectrum of low frequency band (below 2GHz), middle frequency band (2GHz to 6GHz, also called Sub-6) and high frequency band (above 6GHz, also called millimeter wave) to realize the complete vision of IMT-2020 mobile broadband for the mass market. According to GSA statistics, as of August 2019, 71 countries/regions around the world are considering or allocating 5G spectrum, 34 countries/regions have completed the auction of at least one frequency band suitable for 5G, and 40 countries have announced plans to continue the auction of 5G spectrum between 2019 and 2021.

The intermediate frequency band is the best deployment frequency band for 5G, which has the characteristics of wide coverage and high capacity. The intermediate frequency band 3.3-4.2GHz is the most widely used 5G frequency band in the world, and it has been regarded as the main frequency band for 5G network construction by most countries. Korea, China and Japan took the lead in mid-band spectrum planning and allocation and 5G construction. Among them, South Korea allocated 3.42-3.7GHz, China allocated 2.515-2.675GHz, 3.5-3.7GHz and 4.8-4.9GHz, and Japan allocated 3.6-4.1GHz.

High-frequency band has a wider continuous spectrum, which can provide greater network speed. However, taking high-frequency band as the main construction frequency band of 5G has a huge investment scale and great investment risk. The United States has always wanted to be the leader of 5G, but because the mid-band spectrum has been occupied, the Federal Communications Commission auctioned the high-band spectrum of 37.6 GHz–38.6 GHz, 38.6 GHz–40 GHz and 47.2 GHz–48.2 GHz for 5G construction. The high-frequency band has the problems of short coverage distance of base stations and a large number of base stations for continuous coverage, while the frequency clearing and re-auction in the middle-frequency band in the United States will be in 2020 at the earliest, which may greatly delay the deployment process of its 5G. American operators Verizon and AT&T use high-band millimeter waves to launch 5G services, but their 5G network coverage is very limited. Therefore, American 5G is still in its infancy in terms of network coverage, performance and industrial application.

Figure 11: Global 5G spectrum distribution (August 2019)

Source: GSA, China Merchants Bank Research Institute

2.2 5G network investment ushered in a new round of rising cycle.

Countries have successively started to invest in 5G networks.

Global operators actively deploy 5G networks. From the second half of 2018 to the first half of 2019, countries have successively started 5G commercialization or related processes. As of August 2019, 296 operators in 100 countries are launching or conducting related 5G trials, of which 56 operators in 32 countries have announced the deployment of 5G networks, and 39 operators have announced the launch of 5G services.

Figure 12: Global 5G Commercial Time (August 2019)

Source: GSA, China Merchants Bank Research Institute

Figure 13: Global 5G Network Investment Progress (August 2019)

Source: GSA, China Merchants Bank Research Institute

The construction of 5G network is still in the early stage, and the number of commercial networks is still small. The proportion of global operators who have deployed 5G networks is only 19%. Most operators are still in the process of evaluation, testing, license application and network planning. The scale of deployed 5G networks is also small, and the construction of global operators’ 5G networks is still moving forward.

China, South Korea and Japan lead the promotion of global 5G commercialization. The development process of 5G is expected to go through the process from policy-driven to business-driven, and it is still in the policy-driven stage. China, Japan, South Korea and Europe are the first countries to commercialize 5G.

Table 1: Progress of 5G Commercialization in Major Countries in the World

Source: China Merchants Bank Research Institute

China’s 5G network investment may exceed one trillion

5G issued a commercial license and the scale construction kicked off. On June 6, 2019, the Ministry of Industry and Information Technology、、5G commercial license issued by China Radio and Television. China Mobile, China Telecom and China Unicom are expected to spend 169.9 billion, 78 billion and 58 billion respectively in 2019. The total capital expenditure of the three major operators is 300 billion yuan, and the 5G part is about 33 billion yuan. Yang Jie, chairman of China Mobile, said that 5G construction will reach its peak in 2020-2022.

Figure 14: Five-G Networking Construction Strategies of Three Major Operators

Source: Operators, China Merchants Bank Research Institute.

The density of 5G base stations is expected to increase significantly. According to the propagation characteristics of electromagnetic waves, the frequency of electromagnetic waves is inversely proportional to the transmission distance. The higher the frequency of electromagnetic waves, the shorter the coverage distance of base stations. The main frequency band adopted by 2G is 900MHz, and the coverage radius is about 5-10 kilometers. 3G adopts 1.9-2.1GHz, with a coverage radius of about 2-5 kilometers; The main frequency bands adopted by 4G are 1.8-1.9GHz and 2.3-2.6GHz, and the coverage radius is about 1-3 kilometers. If 5G is used in the intermediate frequency bands of 2.6GHz, 3.4-3.6GHz and 4.8-4.9GHz, the coverage radius is about 300-500m. This means that the operating frequency band of 5G is higher, and the coverage of 5G base stations is smaller than that of 4G base stations. It is estimated that the number of 5G base stations will increase by 30%.

Figure 15: Relationship between Frequency Band and Base Station Coverage Distance

Source: China Merchants Bank Research Institute

Figure 16: 5 G base station coverage scenario

Source: China Merchants Bank Research Institute

Hong Jizhan is given priority to, supplemented by small base stations. There are three main scenarios for 5G network planning: dense urban areas, general urban areas and suburbs. The dense urban areas are mainly covered by high-capacity Hong Jizhan, the commercial office buildings are covered by medium and low-capacity room sub-systems, and the hot areas such as exhibitions and transportation hubs are covered by small base stations to realize high-quality and low-cost network construction. In general, the urban areas are mainly covered by Hong Jizhan with medium capacity, and the commercial office buildings are covered by low-capacity room sub-systems. Suburbs adopt low-capacity local key coverage in Hong Jizhan.

Telecom Unicom’s joint construction and sharing can be mutually beneficial and win-win. Under the condition of different 5G frequency bands and covering the same area, the number of 5G base stations to be built is also different. According to the ITU-3D NLOS road loss model test, the road loss at 3.5GHz is larger than that at 2.6GHz, and the penetration loss is higher. In the case of the same base station transmission power, the 3.5GHz band wants to cover the same area as the 2.6GHz band. Theoretically, the number of base stations of China Telecom and China Unicom is 38% higher than that of China Mobile. Therefore, the cooperation between China Telecom and China Unicom in the construction of 5G base stations can save money, give play to the sharing advantages and enhance the investment effect.

The investment scale of 5G is more than 50% higher than that of 4G. By the end of 2016, 3.15 million base stations had been built in the main investment period of 4G (2013-2016), including 1.51 million in China Mobile, 900,000 in China Telecom and 740,000 in China Unicom. Considering that the density of 5G base stations is significantly higher than that of 4G, according to the scale of 4G network investment, it is estimated that the three major operators will build 4 million 5G base stations in 2019-2022, and the number of 5G base stations will increase by about 27% compared with the number of 4G base stations in the same period in history. Among them, China Mobile has 2 million stations, and China Telecom and China Unicom have jointly built 2 million stations. The 5G base station adopts large-scale antenna technology, and the unit price of the base station is obviously improved; The 5G transmission network supports network slicing, and all transmission networks need to be newly built. The total investment of China’s three major operators in 4G reached 745 billion, according toAccording to the calculation of securities, China’s 5G network investment will be as high as 1.1 trillion yuan. Similar to the investment structure of 4G network, the largest capital expenditure is base station, followed by transmission network, core network and other operation support systems.

Table 2: Estimation of China’s Operators’ 5G Network Investment

Source: China Securities, China Merchants Bank Research Institute.

The investment rhythm of China’s 5G network

The capital expenditure of communication industry is cyclical. In the 3G and 4G era of operators, capital expenditure presents periodic changes, from small-scale construction one year before the issuance of licenses to large-scale construction three years after the issuance of licenses. The main construction period is four years. 3G license was issued on January 7th, 2009, and operators started to build 3G networks ahead of schedule in 2008. In 2008, operators’ capital expenditure showed signs of recovery, and 2009-2011 was the main investment period of 3G networks. The 4G license was issued on December 4, 2013, and operators began to build 4G networks in 2013. 2014-2016 is the main investment period of 4G networks. The 5G license was issued on June 6, 2019, and 2020-2022 will be the main investment period of 5G networks.

Two years after the issuance of the communication license, the capital expenditure peaked, and in the third year, the capital expenditure declined. The capital expenditure peaked in 2009-2010 after the issuance of 3G licenses, and in 2014-2015 after the issuance of 4G licenses. With the maturity of each generation of communication industry chain, following anti-Moore’s law, the cost and price of equipment in the third year of investment period decreased synchronously, which led to the reduction of capital expenditure of operators. From 2014 to 2016, the annual construction of 4G base stations of the three major operators reached 1.02 million stations, 1.07 million stations and 1.12 million stations respectively. Due to the price reduction of equipment, the capital expenditure in 2016 was lower than that in 2014 and 2015. 2019 is the first year of 5G investment and construction. It is estimated that 2020-2021 will be the peak period of 5G capital expenditure, and 5G capital expenditure will fall back in 2022.

Figure 17: Scale of Capital Expenditure of Three Major Operators

Source: Wind, China Merchants Bank Research Institute

Figure 18: Proportion of Capital Expenditure Structure of China Mobile

Source: Wind, China Merchants Bank Research Institute

The base station investment remained stable, and the transmission investment was concentrated in the early stage. From the path of network construction, the transmission network is built first, and the base station construction can be carried out on a large scale. From the perspective of China Mobile’s 4G investment process, transmission construction started early in 2013 before licensing, and the scale was gradually reduced in the later period; The scale of base station construction was small before licensing, and the base station investment was steadily advanced in 2014-2016 after licensing. It is estimated that the base station investment will be distributed smoothly in 2020-2022, the transmission investment will be concentrated in 2020-2021, and the stocking of the upstream supply chain will be about 3-6 months ahead of the capital expenditure of network equipment.

China’s communication equipment enterprises and supply chain investment opportunities are significant.

Huawei ZTE has a leading position in the global communication equipment market. According to the global communication equipment market report released by Dell‘Oro, the seven major equipment manufacturers in the world are Huawei, Nokia, Ericsson, Cisco, ZTE, Ciena and Samsung, which together account for about 80% of the global equipment vendors’ market share. Relying on the leading edge of standards and patents, Huawei’s market share in communication equipment continues to rise, and its global market share in 2019H1 reached 29%.After being punished by the United States in 2018, the global market share briefly fell to 7.7%, and in 2019H1, the market share was close to the historical high of 9.9%.

The upstream supply chain of Huawei ZTE has great investment opportunities. As of October 2019, from the published 5G commercial contracts, Huawei has more than 60 5G commercial contracts, more than 150,000 delivery base stations and more than 400,000 AAU modules. ZTE has more than 25 commercial contracts and more than 50,000 delivery base stations. The upstream supply chain enterprises with Huawei and ZTE as the core have shown signs of good overall performance and will have greater investment opportunities in the next 2-3 years.

3.5G terminal diversification brings medium and long-term investment opportunities.

From the development path of the 5G industry, 5G terminals will gradually evolve from consumer terminals dominated by the Internet of People to Internet of Things terminals dominated by the Internet of Everything. The terminal types are diversified, from mobile phones, AR/VR, smart wear and smart homes to car networking, commercial robots and industrial robots. 5G terminals have medium and long-term investment opportunities.

3.1 5G mobile phone market welcomes high growth opportunities.

The maturity of supply chain drives the rapid development of global 5G terminal market.

Global 5G mobile phones are experiencing explosive growth opportunities. From the global history of 4G development, the deployment of 4G networks has brought huge growth opportunities to the 4G smartphone market. The United States, Japan and South Korea started the construction of 4G networks in 2011, and China in Europe started the construction of 4G networks in 2013. The global construction of 4G networks has brought double-digit growth in the smartphone market for six consecutive years since 2010, and the scale of the 4G smartphone market has reached one trillion yuan. 5G network investment will help the global 5G mobile phone market usher in explosive growth opportunities. According to Strategy Analytics, by 2025, the global shipment of 5G mobile phones will exceed 1.5 billion. From 2019 to 2024, the shipments of 5G mobile phones will reach 2 million, 11 million, 77 million, 183 million, 416 million and 855 million respectively. IDC predicts that by 2020, 5G smartphone shipments will account for 8.9% of the total shipments, reaching 123.5 million units; By 2023, this proportion is expected to increase to 28.1%.

The global 5G terminal products are diversified. Through the joint efforts of the industry, the 5G mobile phone industry chain has matured. In 2019, major suppliers such as Qualcomm, Huawei, Samsung, MediaTek and Ziguang Zhanrui all launched 5G baseband chips. The maturity of the supply chain has promoted the rapid development of global 5G terminal products. China Mobile predicts that in 2020, more than 10 brands will launch 5G mobile phones, with more than 100 types of 5G mobile phones and terminals. According to GSA statistics, as of November 2019, there were more than 183 5G terminals in the world, involving 15 categories. Among them, there are 54 models of 5G mobile phones, 59 models of CPE (network terminal equipment), 34 models of 5G modules, 11 models of 5G hot products and 7 models of 5G routers. The diversification of 5G terminals provides a broad space for the development of various industries.

Global 5G commercial mobile phones are released one after another. Well-known manufacturers such as Huawei, Samsung, Xiaomi, OPPO and VIVO have successively released mass-produced 5G mobile phones. Samsung began selling Galaxy S10 5G mobile phones in April 2019, becoming the first mobile phone manufacturer in the world to announce the sale of 5G mobile phones. Huawei first launched Mate X, a commercial mobile phone based on 5G technology, at the Mobile World Congress in February 2019, and released Mate 20X 5G version in May 2019. In September 2019, Xiaomi launched two 5G mobile phones, Xiaomi 9 Pro 5G and Xiaomi MIX Alpha. It is estimated that there will be thousands of 5G mobile phones in 2021, which will greatly accelerate the penetration rate of 5G mobile phones.

Figure 21: Global 5G Mobile Phone Shipment Forecast

Figure 22: Global number of 5G terminals (November 2019)

Source: GSA, China Merchants Bank Research Institute

China’s 5G mobile phone market has great growth potential.

China is the world’s largest market for 5G smartphones. By the end of 2018, the number of mobile phone users in China was close to 1.2 billion, and the user penetration rate reached 82% of the total population, which was close to 85% in developed countries in Europe and America. In 2018, the global smartphone shipments were 1.456 billion, of which the total sales volume in China market was 398 million, accounting for 27%. Among the Top6 smartphone manufacturers in the world, Huawei, Xiaomi, OPPO and VIVO in China occupy four seats. In the second quarter of 2019, Huawei surpassed Apple to become the second largest smartphone manufacturer in the world. According to the GSMA forecast, by 2025, the global market share of 5G mobile phones will reach 15%, including 59% in South Korea, 50% in the United States, 48% in Japan, 29% in Europe and 28% in China. By 2025, the number of users of 5G mobile phones in China will exceed the sum of North America and Europe, reaching 460 million, making it the largest market for 5G smart phones.

The development speed of 5G mobile phones exceeded expectations. South Korea is the first country in the world to start large-scale commercialization of 5G. On April 3, 2019, Korean operators launched 5 G commercial services. At the beginning of May, the number of 5G users in South Korea reached 260,000. On June 10th, the 69th day of South Korea’s 5G commercialization, the number of 5G users reached 1 million, which was 11 days shorter than the time it took for 4G users to break through 1 million. At the beginning of August 2019, the number of 5G users in South Korea reached 2 million, faster than the same period of 4 G. The success of South Korea’s 5G business directly promoted the sales of Samsung’s 5G version of Galaxy Fold and Galaxy Note 10. According to the statistics of China’s Ministry of Industry and Information Technology, as of October 8, 2019, there were nearly 10 million subscribers to China’s 5G package, including 5.8 million from China Mobile, 1.99 million from China Unicom and 2 million from China Telecom. On November 1, 2019, China officially commercialized 5G networks. On November 20, 2019, the Ministry of Industry and Information Technology revealed that China’s 5G users signed 870,000 contracts. Xu Zhijun, the rotating chairman of Huawei, predicts that the number of 5G users in China will exceed 200 million in 2020.

Figure 25: Comparison of popularization speed of 4G/5G users in South Korea

Source: Zdnet, China Merchants Bank Research Institute

Figure 26: China Mobile’s 4G base station and user growth trend

Source: Wind, China Merchants Bank Research Institute

Investment rhythm of 5G mobile phone market

The scale of the 5G mobile phone market will exceed the investment scale of the 5G network. Looking back at the domestic 4G market, 4G licenses were issued in December 2013, and large-scale 4G network construction began in 2014. The growth of 4G users is in step with the construction of 4G networks, and the growth rate of 4G users is much higher than that of 4G base stations in the same period. In 2016, when the peak of 4G capital expenditure ended, the penetration rate of 4G users has reached 80%, and the replacement speed of 4G mobile phones is higher than the investment speed of 4G networks. Compared with the time rhythm of 5G network licensing and network construction, it can be predicted that the growth rate of 5G mobile phone market will also exceed the investment speed of 5G network. According to the forecast data of many institutions, in 2020, the market size of 5G mobile phones is expected to exceed 500 billion yuan. With the increasing proportion of sales of 5G mobile phones, the future 5G mobile phone market is expected to go to trillion scale, and there are great investment opportunities in the RF, camera, acousto-optic devices and other sub-sectors of the upstream supply chain of 5G mobile phones.

2020-2022 ushered in the peak of 5G replacement. From the history of 4G network construction and user growth, it can be predicted that 2020 will be the first year of 5G mobile phone explosion, and 2020-2022 will be the peak period of 5G replacement. By then, 5G mobile phones will drive the global smart phones to resume positive growth. In terms of the rhythm of the 5G terminal market, it is expected that the first half of 2020 will be in the market introduction period, and the second half of 2020 will enter the scale development period. Terminal manufacturers will launch low-and medium-priced products, and the scale of the 5G mobile phone market will continue to expand. It is estimated that by the end of 2020, the price of 5G mobile phone products will drop to 1500 yuan, and the market will be dominated by 5G mobile phones. In 2021, there will be a thousand yuan 5G mobile phone. Non-5G mobile phones and low-priced 5G mobile phones are expected to fully enter the ODM era, and the ODM market share will gradually expand.

3.2 5G IOT terminal market has great growth potential.

5G unified standards to promote the faster development of the Internet of Things

There are many standards of Internet of Things, which affect the development speed of the industry. The concept of Internet of Things began in 1998, and its vision is that everything in life can transmit information through network connection and realize the digitalization of the world. Due to the diversity of Internet of Things requirements, a number of Internet of Things technical standards have emerged. Power consumption, bandwidth, coverage distance and communication frequency have become the main factors in choosing Internet of Things technology. The existing technical standards of Internet of Things include Zigbee, WiFi, Bluetooth for short-distance communication technology and 2G, 4G, LoRa, SigFox, eMTC, NB-IoT for long-distance communication technology. Low-power wide area network (LPWAN) standard has become the designated mobile communication standard to meet the requirements of low power consumption, long distance and low bandwidth in Internet of Things applications, among which LoRa, SigFox and eMTC and NB-IoT with licensed spectrum have gradually emerged.

5G is expected to unify standards and promote the faster development of the Internet of Things. Unauthorized spectrum technology (LoRa, SigFox) can only be used in a small area due to the limitation of spectrum sharing. Authorized spectrum technologies (NB-IoT and eMTC) have already had the scale effect with the gradual deployment in the world. As of September 2019, at least 114 operators in 57 countries have deployed NB-IoT or eMTC, and 153 operators in 72 countries are actively investing in NB-IoT networks. In July 2019, 3GPP formally submitted the proposal of 5G candidate technical standards to ITU-R (International Telecommunication Union), and NB-IoT became the technical standard to meet the needs of 5G large-scale machine connection (mMTC) scenarios.

Figure 29: NB-IOT and eMTC network deployment

Source: GSA, China Merchants Bank Research Institute

Figure 30: Prediction of the number and scale of global Internet of Things terminals

Source: Ericsson and China Merchants Bank Research Institute.

High Growth Opportunity of Internet of Things Terminal Market

The global Internet of Things terminal market is expected to maintain rapid growth. IDC predicts that the global Internet of Things expenditure will reach $745 billion in 2019 and $1.1 trillion in 2023. Ericsson predicts that in 2025, the global Internet of Things terminal scale will reach 24.9 billion, among which short-range IoT devices (Wi-Fi, Bluetooth and Zigbee) will reach 19.5 billion, with a compound annual growth rate of 13%; Wide-area IoT devices (2G, 3G, 4G, 5G, NB-IoT, eMTC, Sigfox and LoRa) reached 5.4 billion, with a compound annual growth rate of 24%. In 2025, among the wide-area IoT devices, NB-IoT and eMTC devices are the 5G mainstream IOT terminals, accounting for 52%; 4G and 5G large bandwidth IoT terminals accounted for 28%. In the long run, the market size of IOT terminals far exceeds that of smart phones.

Figure 31: Prediction of the number and scale of terminals in the global wide-area Internet of Things

Source: Ericsson and China Merchants Bank Research Institute.

Figure 32: Distribution of NB-IoT New Products in China in 2019Q1

Source: Institute of ICT, China Merchants Bank Research Institute.

China’s Internet of Things terminal market is growing rapidly. By the end of 2018, the Internet of Things connection terminals of China’s three major operators had exceeded 760 million, of which China Mobile’s Internet of Things connection scale reached 551 million. The existing IOT terminals still mainly use 2G/3G/4G networks, and the proportion of NB-IoT/eMTC terminals is still small. Under the impetus of 3GPP, NB-IoT is included in the 5G standard, which ensures the smooth upgrade of operators NB-IoT to 5G network and is conducive to the rapid promotion of NB-IoT terminals. China’s NB-IoT terminals have been widely deployed, and have developed rapidly in the application fields of smart home, smart city, intelligent production and intelligent logistics. According to the statistics of China ICT Institute, in the first quarter of 2019, 58 new NB-IoT terminal products were listed. Since 2018, the number of NB-IoT terminals has accumulated to 180. From the product form, it covers smart meters, smart door locks, flammable gas alarms, locators, and general modules/modules that can be widely used in the field of Internet of Things.

In the short term, the smart home terminal market is the largest. According to Strategy Analytics, the total expenditure of global smart home market (equipment, system and service consumption) will be close to $96 billion in 2018, with a compound annual growth rate of 10% in the next five years (2018-2023), and the global smart home market will reach $155 billion by 2023. The North American market is dominated by Amazon, Google and Samsung; There are British companies Centrica Connected Homes’Hive and Deutsche Telekom’s Magenta Home, German eQ-3 and Dutch Enco’Toon； in the European market. In the Asia-Pacific region, there are Xiaomi in China, LG in South Korea, iTSCOM and Panasonic in Japan. The smart home market is still highly fragmented and has great growth opportunities.

Figure 33: Global Smart Home Market Scale

Source: Strategy Analytics and China Merchants Bank Research Institute.

Figure 34: China Internet of Things Market Growth Forecast (2017-2022)

Source: IDC, China Merchants Bank Research Institute

In the medium term, the car networking terminal market has the highest growth rate. Gartner predicts that by 2023, the automotive industry will become the largest market for 5G IoT solutions, accounting for 53% of 5G IoT terminals. IDC predicts that among the mainstream application scenarios in China in the next five years, the car networking scenario will grow fastest. From the overall situation of the domestic vehicle terminal market, in Q1 of 2019, 37 new products of vehicle terminals were listed, including 6 2G terminals, 1 3G terminal, 29 4G terminals and 1 NB-IoT terminal. From the application field, the current vehicle-mounted mobile terminal products include not only general equipment for cars, buses and trucks, but also special terminals for certain models, such as Beidou compatible terminals for logistics vehicles. From the product form, it includes not only intelligent rearview mirrors and vehicle-mounted robots with high integration, but also driving recorders, vehicle navigation and ETC intelligent terminals focusing on specific functions. With the advancement of the Internet of Vehicles, consumers have higher and higher requirements for the intelligence of vehicle-mounted mobile terminals, and more and more vehicle-mounted mobile terminals are equipped with intelligent operating systems such as Android. In Q1, 2019, there were 14 new smart car mobile terminals equipped with operating systems, accounting for 37.8% of the newly listed models in the same period.

Figure 35: Distribution of new products on the market of domestic vehicle terminals in Q1, 2019.

Source: Institute of ICT, China Merchants Bank Research Institute.

Figure 36: Industrial Internet of Things Application Scenario

Source: PTC, China Merchants Bank Research Institute

In the long run, the Industrial Internet of Things (IIoT) will become the largest market for the 5G Internet of Things. GSMA mobile think tank predicts that by 2025, the number of smart manufacturing connections in the Asia-Pacific region will reach more than 530 million. According to the survey data of industrial Internet of Things software platform PTC on its customers, the leading industry in deploying industrial Internet of Things solutions is industry (25%), followed by electronics and high technology (23%) and automobile industry (13%). Specific application scenarios include manufacturing/operation, service, product design and IT. The most important application scenario is the formation of manufacturing operation information and operational asset monitoring by using the Internet of Things. These intelligent industrial connection functions can help product manufacturers improve their output and production quality, and reduce manufacturing costs.

4.5G industry cloud has a long-term development prospect in the vertical field.

From the perspective of application scenarios, 5G promotes the integration of cloud network services, and gradually evolves from a cloud platform providing virtualized basic resources to an industry cloud applied in typical industries, which not only drives the rapid growth of data centers, but also deeply integrates in real economic fields such as education, security, energy and industry, creating new kinetic energy for economic development.

Figure 37: Global Cloud Computing Market Size and Growth Forecast

Source: Gartner, China Merchants Bank Research Institute.

Figure 38: Global IaaS Public Cloud Market Share

Source: Gartner, China Merchants Bank Research Institute.

4.1 Cloud network convergence promotes the rapid development of cloud computing industry

The global cloud computing market continues to grow steadily. In 2018, the global public cloud market reached US$ 136.3 billion, with a growth rate of 23%. It is estimated that in 2022, the global public cloud market will reach US$ 270 billion, in which the compound annual growth rate of IaaS is over 26%, that of PaaS is over 20%, and that of SaaS is over 14%. The global market concentration trend is obvious. From the perspective of IaaS revenue in 2018, the top three occupy 70% of the global market share. Among them, Amazon AWS still occupies the first place, with a market share of 51.8% and a growth rate of 26.8%; Microsoft Azure followed closely, with a market share of 15.5% and a growth rate of 61%; Alibaba Cloud ranks third with a market share of 7.7%, with a growth rate of 93%.

The growth rate of China’s cloud computing market is higher than the global level, and the public cloud market is growing faster than the private cloud market. In 2018, the overall market size of cloud computing in China reached 96.28 billion yuan, with a growth rate of 39.2% higher than the global level. Among them, the size of the public cloud market reached 43.7 billion yuan, up 65% year-on-year; The scale of the private cloud market reached 52.5 billion yuan, a year-on-year increase of 23%. From the public cloud IaaS, Alibaba Cloud, Tianyiyun and Tencent Cloud occupy the top three; From the public cloud PaaS, Alibaba Cloud, Tencent Cloud and Baidu Cloud occupy the top three; From the perspective of public cloud SaaS, UFIDA, Kingdee and Changjietong occupy the top three. According to the prediction of World Information, an ICT research consultancy, in 2018, the cloud access rate of enterprises in China will be around 30%, while that of enterprises in the United States will be around 80%. There is still a lot of room for growth in the cloud computing market in China in the future.

Figure 39: Market Size and Forecast of Public Cloud in China

Source: Institute of ICT, China Merchants Bank Research Institute.

Figure 40: China Private Cloud Market Scale and Forecast

The rapid growth of cloud computing promotes the continuous growth of data centers. Due to the rapid development of cloud computing, search, social networking, e-commerce and payment services, the global demand for data centers is growing day by day, and the ultra-large-scale data centers continue to grow rapidly. According to the Cisco Global Cloud Index CGCI, from the end of 2016 to 2021, the number of very large-scale data centers in the world will increase from 338 to 628; The global annual data center traffic will increase from 6.8ZB to 20.6ZB, with a compound annual growth rate of 25%. The continuous growth of Internet traffic has promoted the continuous expansion of data centers. In 2018, the market size of IDC in China reached 122.8 billion yuan, and it will reach 275.9 billion yuan in 2021, maintaining a growth rate of about 30%.

4G services promote the high growth of data center traffic. There is a positive correlation between the growth of network traffic of operators and the growth of data traffic in data centers. The traffic of 4G, private line and broadband services in the operator’s network comes from the content server in the data center. The outbreak of Internet services and the acceleration of operators’ pipelines can effectively increase the traffic demand of data centers. As of October 2019, the scale of 4G users of three operators in China reached 1.269 billion, and the average mobile Internet access traffic (DOU) reached 8.54GB in that month, with an increase rate of 85.6% year-on-year. The demand for data centers increased rapidly with the synchronization of 4G services.

Figure 41: China IDC market size forecast

Source: China IDC Circle, China Merchants Bank Research Institute.

Figure 42: 4G services drive data center traffic growth

Source: China Merchants Bank Research Institute

4.2 5G industry cloud has long-term investment opportunities.

5G promotes the rapid development of data centers.

Figure 43: DoU trend of 4G/5G users in South Korea

Source: Zdnet, China Merchants Bank Research Institute

Figure 44: DoU trend forecast of China Mobile’s 4G/5G users.

Source: China Mobile and China Merchants Bank Research Institute.

5G effectively enhances DoU, which will drive the data center to maintain rapid growth in the next three years. The growth rate of monthly Internet traffic (DoU) of operators directly reflects the growth rate of data center traffic. According to the statistics of Korea Ministry of Science and Information, in Q2 of 2019, South Korea’s 5G DOU was 24GB, while 4GDoU was 9.5GB, and 5G DoU was three times that of 4GDou. According to the forecast of China Mobile, the 5G DoU will be 19.6GB in 2019 and 37.8G in 2022, with a compound annual growth rate of 25%. With the gradual promotion of 5G, 5G DoU is three times that of 4G Dou, which will drive the data center to maintain rapid development in the next three years.

5G solves network bottleneck, and cloud games meet development opportunities.

The characteristics of large bandwidth and low latency of 5G solve the bottleneck of the development of cloud games. Cloud games are based on cloud computing technology. The data processing of the games is not run locally, and there is no need to download the games. All the games are run in the cloud, and the server in the cloud will transmit the game images to the user terminal through the network after data compression. Cloud games greatly reduce the configuration requirements for user terminals. User terminals do not need to use any high-end hardware configuration, but only need to meet the simple video streaming media processing ability, and are responsible for sending operation instructions and accepting returned video information. The advantages of low threshold, multi-device synchronization and immediacy of cloud games also bring corresponding demands. Cloud games need more network bandwidth and lower network delay than traditional games, and network bottleneck has become one of the main factors for poor user experience of cloud games. With the arrival of 5G, the large bandwidth and low latency of 5G can bring users a high-quality cloud game service experience.

The cloud game market has great potential for long-term development. IHS Markit predicts that by the end of 2019, the market size of cloud games will exceed 500 million dollars for the first time, and by the end of 2023, the market size of cloud games will reach 2.5 billion dollars. Market research company Niko predicts that China will become the world’s largest cloud game market in 2023, when the revenue of China’s cloud game market will exceed 1.1 billion US dollars.

Industry giants have entered one after another, and cloud games and social interaction are deeply integrated. In November 2019, Google officially launched the cloud game platform Stadia, which supports smart terminals such as laptops, tablets, mobile phones and TV boxes, and the screen can be seamlessly switched. Google has brought many new ways to play, which can share the video and screenshots of the game to the video website with one click, and the content of the video and trailer of the game will provide the entrance to the game, so as to realize instant play. Players can share their own game progress through the connection, and other players can join in the cooperative game at any time; The anchor can invite the audience to participate in the game and interact at any time when the game is broadcast live. Tencent cloud game platform WeGame was launched in August 2019, and Netease cloud game platform has also been launched, includingOther small manufacturers, such as Red Finger Cloud Mobile Phone and Hai Mayun, have also actively launched cloud game services.

Cloud game ecology is diversified, and new business models are constantly emerging. Domestic cloud game business models mainly include virtual mobile phone rental, game joint operation and playable game advertisements. The virtual mobile phone rental mode is the main mode in the To C market. Users can hang up in the cloud to brush their experience and resources by purchasing virtual mobile phones with different configurations. Joint operation mode with game manufacturers, similar to Apple App Store, cloud game platform can be jointly operated with multiple game manufacturers to help game manufacturers bring new user traffic. The playable game advertising mode breaks through the traditional static and video game advertising mode, and the advertising window is the game entrance, which is helpful to directly improve the user’s advertising conversion rate.

Cloud games directly drive the growth of cloud computing resources. Cloud games bring customers a perfect experience, and put a lot of game data processing and picture rendering in the cloud. Cloud games directly drive the growth of demand for cloud computing and data center resources, and the growth of demand for servers, storage, network equipment and chips that meet high-quality image processing. The combination of cloud games with smart hardware such as mobile phones, PADs, PCs, AR/VR, TVs, etc. may become the killer application of To C services in the 5G era.

5G promotes new opportunities in new areas of security

The three characteristics of 5G bring more security application scenarios. In the next few years, the demand for security technology products at home and abroad will maintain a steady growth trend, with strong security demand in many industries such as cities, transportation, education, medicine, environment and finance. In 2018, the market size of video surveillance equipment in China was US$ 10.63 billion. IDC predicts that by 2023, the market size of video surveillance equipment in China will reach $20.13 billion, with a compound annual growth rate of 13.6%. With the arrival of 5G, the three characteristics of large bandwidth, large connection and low delay bring more cloud security application scenarios, realizing new requirements such as high-definition monitoring, AR glasses/helmet inspection, drone inspection, material monitoring, fire alarm monitoring and emergency command.

Cloud network cooperates to meet the diversified needs of security services. Cloud security platform can not only reduce the implementation cost of security projects and improve the deployment efficiency of security business, but also realize the linkage between security business and other social public departments and improve the efficiency of social operation. The combination of cloud AI deep learning based on GPU and FPGA and the AI computing power of edge cameras greatly improves the ability to analyze and identify people, cars and things. After computer vision processing and deep learning, the ability of target classification and attribute recognition can be easily realized. In the future, security terminal equipment can realize full video feature structure through AI chip, and then transmit feature information to edge cloud and central cloud through 5G network, and the cloud can maximize efficiency through intelligent analysis. The diversification of cloud security application scenarios has led to new development opportunities for cloud computing in the security field.

Figure 47: China Video Surveillance Market Scale Forecast

Source: IDC, China Merchants Bank Research Institute

Figure 48: 5G Intelligent Security Solution

Source: China Merchants Bank Research Institute

5G accelerates the cloudization of industrial manufacturing and realizes digital transformation

5G Industrial Internet unleashes unlimited potential for manufacturing. Industrial Internet has promoted the formation of a brand-new industrial manufacturing and service system through the comprehensive interconnection of people, machines and things, and is an important cornerstone of the fourth industrial revolution. Industrial Internet provides a key support for the digitalization, networking and intelligent upgrading of manufacturing industry, which is conducive to the birth of new models and new formats, and promotes the transformation and upgrading of traditional industries and the cultivation and growth of new kinetic energy. At present, China’s manufacturing industry is still at a low level, limited by the low level of automation, insufficient level of informatization, unresolved problems of networking and real-time data transmission, and the industrial Internet is still in its infancy. 5G’s ultra-large bandwidth, ultra-large connection and ultra-low latency make it possible for the industrial Internet to make great strides.

Cloudization of industrial manufacturing brings long-term investment opportunities. According to the analysis of ICT Institute, at this stage, China’s manufacturing enterprises mainly focus on the cloudization of simulation design, business system and industrial Internet of Things. In the simulation design, such as automobile, heavy industry, complex electrical appliance manufacturing enterprises, through high-performance computing on the cloud, simulate the real environment, and carry out multi-scene design analysis. The business system provides flexible resource allocation for business systems such as manufacturing, finance, sales, inventory, procurement and service through the cloud platform, which improves efficiency and saves a lot of costs. Industrial Internet of Things collects, analyzes and manages data through tens of thousands of terminals in the cloud. Industrial intelligent manufacturing goes to the cloud, which promotes China’s development from a manufacturing power to a manufacturing power, and also brings broad business opportunities for cloud computing.

Figure 49: Cloudization of industrial manufacturing

　　[car home Information] On October 16th, 2023 Chery Science and Technology Day was held. At this press conference, Chery introduced the latest technical features of Eta Ursae Majoris 2025.

　　Chery Eta Ursae Majoris 2025 technology will be applied to E0X high-performance electric platform and super hybrid platform, which will have the characteristics of safety, energy consumption, space, intelligent cabin and intelligent driving.

　　First of all, in terms of safety, the new vehicle structure will adopt lightweight space capsule made of high-strength steel and aluminum, two horizontal and three vertical embracing force transmission structures, active seat belts, remote airbags and integrated safety technologies. New energy vehicles are equipped with world-class battery safety, including safety batteries, super waterproof, super anti-collision, extreme heat protection, extreme high-voltage safety, and full-time monitoring.

　　In terms of energy consumption, Chery will build a world-class low energy consumption. In terms of pure electric vehicles, at room temperature, the minimum power consumption of CLTC is 11.7kWh/100km, the longest battery life of CLTC is 905km, and the battery life can be 150km after fast charging for 5 minutes. At low temperature, the endurance attenuation ratio is 9% due to the industry average. At high temperature, the endurance attenuation ratio is 3% due to the industry average. The low energy consumption comes from 56 technologies, including 0.205Cd low wind resistance, 30% light weight reduction, 800V high-efficiency electric drive, intelligent energy recovery, high-efficiency heat pump and so on.

　　In terms of hybrid vehicles, the fuel consumption of WLTC is 4.2L/100km, the pure battery life of WLTC is 106km, and the comprehensive battery life is 1,400 km. It only takes 19 minutes to charge from 30% to 80%, and the acceleration from 0 to 50 km/h is 3.4 seconds. 72 technologies bring hybrid low energy consumption, equipped with the fifth-generation ACTECO hybrid special engine, with thermal efficiency greater than 44.5%, stepless super hybrid DHT hybrid special gearbox and three-speed super hybrid DHT hybrid special gearbox. At the same time, Chery uses scenarios in full-speed domain, full-temperature domain and full-time domain for development.

　　In terms of interior space, taking (|) as an example, the occupancy rate of space reached 70.2%, surpassing an overseas brand limousine and a new force limousine. Storage space includes 32 storage places, over 436L, and 6 intimate storage places.

　　In terms of intelligent cabin, Chery will adopt EEA5.0 user-defined service-oriented electronic and electrical architecture, with 1000TOPS AI computing hardware architecture, SOA two-section coupling software architecture, high-bandwidth secure communication architecture, high-speed OTA iteration and global design. LION 6.0 intelligent cockpit, with 2.5K high-definition central control large screen and scene HMI；; Equipped with 8155 chip +5G, the response speed is faster; It will also be equipped with 23 speakers to take effect in the whole scene; AQS air purification system, CN95 filter element; Zero learning HMI interaction. LION AI large model voice assistant can be used as vehicle function tutor, emotional companion, encyclopedia, health consultant and travel planning. Through the AI big model.

　　In terms of intelligent driving, Chery Pilot 3.0 automatic driving assistance system will realize the functions of NOP, ramp interchange, intelligent comity, extreme weather, memory parking and remote parking in urban areas.

　　In the future, these new technologies will be installed on Chery Fengyun series pure electric cars and SUVs, Xingtu Xingjiyuan electric cars and SUVs, Jietu Shanhai series hybrid cities and off-road SUVs, and iCAR 03 pure electric vehicles.Chery’s models will enter Europe, Latin America, Africa, Australia, Southeast Asia, the Middle East, Central Asia, etc. The car networking has 16 languages and 8 voices, and these technologies will be enjoyed all over the world.

　　In terms of innovative technology of Kunpeng Super Hybrid C-DM, Fengyun A8 will have Super Hybrid 1DHT, Xingtu Eta Ursae Majoris will have Super Hybrid 3DHT, and Shanhai Traveler will be a five/seven-seat hard-core hybrid off-road SUV.

　　Looking forward to the future, Eta Ursae Majoris 2025 technology will be advanced in five major areas, including Mars architecture, Kunpeng Power, Lion Intelligent Cabin, Great Wisdom Driving and Galaxy Ecology. S2ma can expand the intelligent Mars architecture, with a wheelbase range of 2500-3500mm, and realize full-line control chassis, large space, CTC battery, intelligent distributed drive and pluggable EEA 6.0. S2ma Chery Intelligent Chassis CIC 3.0 realizes multi-domain integration and full scene. In terms of drive technology, it has DHE 6.0 hybrid special engine, E-Fuels engine, DHT 4.0 super hybrid box and intelligent vector dual motor. In terms of the core technology of the intelligent cabin, it includes LION Melody 2.0 brand audio, LION AI big model 2.0, LION OS system, high computing platform, international car networking and car enjoyment meta-universe. In terms of intelligent driving, it has Pilot 4.0 to realize urban commuting mode, high-speed navigation and driving, and remote summoning parking. Drive 2.0 includes Robotaxi, urban high-speed full scene, and completely unmanned operation.

　　In terms of product planning, Chery plans to launch five super hybrid and four high-end electric vehicles on E0X platform in the fourth quarter of this year, and launch 24 super hybrid and 15 high-end electric vehicles on E0X platform within two years.

　　Contemporary Amperex Technology Co., Limited Shenxing rechargeable battery will be the first vehicle to land in Xingtu Xingyu Era.Shenxing battery is the world’s first 4C rechargeable battery made of Ferrous lithium phosphate material and capable of mass production. It can be charged for 10 minutes and has a battery life of 400 kilometers, with a cruising range of more than 700 kilometers. (Text/car home Qin Chao)

　　On June 21st, the State Post Bureau released the latest statistics. During this year’s "June 18th" activities (June 1st — 20), the national postal express delivery industry collected more than 6.59 billion pieces of express mail, a year-on-year increase of 24.24%. According to statistics, as of June 1 this year, China’s express delivery business has exceeded 40 billion pieces.

　　Behind the rapid growth of express delivery business is the "slimming" and green transformation of express delivery packaging that has become more urgent. With the increasing green meaning of express packaging, how should express companies and consumers deal with these things about packaging?

　　From "Maban Post Road" to UAV Express Delivery, from manual sorting to robot automatic sorting … … In recent years, the quality and quantity of China’s postal express delivery industry have risen, ranking first in the world with an average annual growth rate of 50%. According to the real-time monitoring data of the State Post Bureau, it is estimated that the express delivery business in China will exceed 95 billion pieces in 2021. At the same time, the rapid growth has intensified the industry’s demand for green packaging. This year’s "Government Work Report" pointed out that it is necessary to "promote the green transformation of express packaging".

　　Making express packaging "thinner" and "greener" and promoting packaging reduction, greening and recycling are becoming the common voice of all walks of life — — The "Measures for the Administration of Mail Express Packaging" (hereinafter referred to as the "Measures"), which was formally implemented not long ago, has made corresponding provisions in terms of packaging materials, usage and punishment measures.

　　With the more green packaging, how to solve the problem of express packaging recycling? Will the packaging cost of express delivery enterprises increase significantly? How should consumers cooperate? The Economic Daily reporter takes you to find out.

　　Exploring "Recyclable"

　　"Please inform the recipient in advance, this is a recyclable express box, please assist the outlets in recycling when picking up the pieces." The courier brother of the Xibahe Yuantong Express outlet in Chaoyang District, Beijing, while packing, reminded Ms. Qian who mailed the courier.

　　Nowadays, this kind of recyclable packing box with different specifications has become the first choice for major express delivery companies to promote green packaging. Its biggest feature is that the packaging link does not need glue, nails, adhesive tape and other materials, and the packaging box can be folded into flat cardboard through special buckle sealing, which is very convenient.

　　"Compared with ordinary packing boxes, this kind of packing box has higher single cost, but it can be recycled many times to prevent waste and pollution." Li Changxiang, the head of the network service of Yuantong Hainan Provincial Network Management Department, told the reporter that this new type of packaging box has been promoted and used in Hainan in early 2019. Moreover, in the process of transshipment, the outlets in Yuantong Hainan area also use circulating transfer bags instead of woven bags, and the sealing tape is becoming thinner and thinner, and a green recycling device for recycling express packaging is equipped. Among them, Haidian Island outlet in Haikou City is a green outlet specially opened by Yuantong, hoping to promote the recycling of express packaging.

　　The volume of express delivery has increased rapidly, and a large number of "express delivery garbage" has accompanied it. The reporter visited a number of express delivery company outlets in Beijing, and many couriers said that over-packaging was the main reason for the "express delivery garbage". In addition to cartons and plastic bags, a large number of plastic foams used to fill fragile objects, adhesive tapes used for fixing and express delivery documents are all "masterminds" that lead to excessive increase in packaging materials. Moreover, most of these over-packaged materials are difficult to degrade, which seriously increases the environmental burden.

　　"At present, the electronic waybill has been popularized in the express delivery industry, and the paper itself can be degraded, so ‘ Pollution ’ Most of them point to plastic bags and tape — — This is also an obstacle to the recycling of cartons ‘ The culprit ’ 。” Lei Zhu, dean of Qingdao Research Institute of Beijing Institute of Printing and head of Industry-University-Research Collaborative Innovation Demonstration Base for Green Development of National Express Industry, told the reporter, "‘ Express garbage ’ And the environmental bearing pressure is increased. At present, the amount of garbage collected in each city is basically close to saturation. "

　　It can be seen that the use of environmentally friendly packaging materials has become an inevitable trend in the express delivery industry. "In the past year, we have continuously reduced the waste of express packaging and promoted the reduction and recycling of packaging." Zhang Jindong, chairman of Suning Holding Group, said recently that at present, Suning Logistics has basically achieved full coverage of the national electronic waybill, and the shared express box has been put into use for more than 100 million times. Fresh-keeping recycling boxes have been used normally in 45 cities, saving more than 50,000 foam boxes every day.

　　The Specification for the Use and Evaluation of Express Green Packaging (Draft for Comment) issued by Beijing Municipal Market Supervision Bureau proposes that Beijing will promote the use of recyclable express packaging such as recycling boxes in express delivery in the same city, and the use ratio will not be lower than 10% of the express delivery business in the same city by 2025; In particular, the size of express packaging is clearly defined, requiring that the empty container rate of express packaging should not exceed 20%.

　　Using environmental protection packaging material is an effective way to realize green packaging, but compared with ordinary packaging material, its price is obviously higher. The reporter learned that the cost of tape-free express cartons is two or three times or more higher than that of ordinary express cartons; The market price of degradable plastic packaging products is usually about 1.5 times that of ordinary plastic packaging products.

　　Although the "green" packaging has raised the cost, the reporter learned from some enterprises and consumers that at present, the express delivery costs of most express delivery companies have not fluctuated. Some courier company outlets staff also said that customers can choose express packaging bags or recyclable packaging boxes for mailing express delivery, and there will be corresponding discounts on prices.

　　Recycling is a difficult problem

　　"Some customers will tell us when sending the mail, and put more fillers in the outer packaging box to prevent the goods from being damaged." Jin Guohua, the courier brother of Yunda Express Service Department of Fulicheng, Chaoyang District, told the reporter that when packing, he would not use the packaging materials excessively according to the company’s regulations, but when the user took out the goods, the boxes and other packaging materials could not be recycled basically and could only be discarded.

　　At present, most express packages are thrown away by users as recyclable garbage. Xiao Zhao, a SF Express courier, found that "high-value" packages such as cartons are easy to enter the cycle, but "low-value" packages such as foam and film that are difficult to handle are difficult to recycle.

　　In the future, can express packaging be recycled by express delivery companies? The Code for the Use and Evaluation of Express Green Packaging (Draft for Comment) proposes that delivery enterprises should take measures to recycle express packaging. Among them, the delivery enterprise should classify and store the scrapped recyclable packaging according to the types of paper, plastic, textile, metal and others, and sign a disposal agreement with a qualified recycling agency according to different types.

　　In addition, the delivery enterprise should inform the end consumers of the recycling channels of express packaging through official website, WeChat WeChat official account, outlets or printing on the packaging, and configure the packaging waste recycling device according to the actual demand and recycling effect; Consumers should also be guided to return the packaging to the recycling point through incentive mechanisms such as sending discounts, integral feedback and green credit.

　　In this regard, some express delivery companies said that because the express packaging recycling system is not perfect, it is difficult to rely solely on the strength of enterprises to promote the establishment of the recycling system. First of all, there are many kinds of recycled express packaging boxes with different specifications, and classified recycling will consume a lot of manpower and material resources, which will affect the recycling efficiency of express packaging. Secondly, at present, there are still few packaging boxes that are recycled to the storage point of express delivery enterprises, and the packaging is seriously damaged when consumers disassemble the parts, so it is difficult to reuse them at express delivery points.

　　Zhang Jindong suggested that laws and regulations and public handling system should be linked to ensure the construction of green logistics and maximize economic and social benefits. On the one hand, the construction of green logistics system is forced by laws and regulations, so as to build a circular system and reduce the operating cost of green logistics; On the other hand, we should learn from the experience in the construction of waste sorting, recycling and treatment system to promote the formation of public packaging waste recycling and treatment system, so as to reduce the packaging cost of enterprises and accelerate the pace of green logistics construction.

　　"Green logistics is a systematic and long-term work. It cannot be done by individuals and enterprises alone, and it requires the full participation of the whole society." Zhang Jindong said.

　　Wan Yuyang, deputy general manager of Yuantong Hainan Provincial Network Management, also admitted that there are still some problems in promoting the actual work of green packaging. For example, it is difficult to purchase green packaging such as full biodegradation; The lack of understanding and support of end users for related work makes it difficult to recycle recyclable packaging boxes. "Next, we hope to solve the problem of difficult recycling through technology, such as setting chips in the box to achieve traceability and recycling." Wan Yuyang said.

　　Technology to empower

　　If express packaging has a "brain" of wisdom, it can be artificially controlled from application to circulation and loss, which is believed to be very helpful for promoting green packaging. Today, this technology is no longer an "armchair strategist". According to Tian Minya, vice president of Debon Express Group, Debon Express set up a packaging R&D department as early as 2018, combining modern technologies such as big data, cloud computing, Internet of Things and artificial intelligence to carry out technical research and development on packaging reduction and recyclable products, and put "green" clothes on express delivery with the help of scientific and technological strength.

　　A circulating transfer bag and a circulating express box can realize the effective sharing of circulating packages and give full play to the value of each express package by implanting chips and establishing a tracking system. With this system, Debon Express can manage the application, circulation, allocation, maintenance and loss of transit bags and express boxes, thus transforming disposable consumables into recycled assets.

　　The insiders believe that popularizing recyclable products or reducing repeated packaging and improving the efficiency of packaging materials through scientific and technological means will become the main ways for express delivery companies to cope with the rising cost of packaging materials.

　　"Using scientific and technological means, we have reduced the thickness of general packaging bags from 7 microns to 5 microns. By the end of 2020, nearly 200,000 bags have been put into use, directly reducing the plastic consumption by 1,324 tons." Tian Minya said that while the company is striving to promote green packaging and taking measures such as packaging reduction, recycling and degradable materials, it is constantly injecting scientific and technological strength to improve resource utilization.

　　In addition, Debon Express also invests 1.5% to 2% of the total operating income in scientific research and development every year, accelerating the improvement of the smart logistics system, realizing energy conservation and emission reduction in the operation process of enterprises, and empowering the green development of express delivery.

　　High-tech empowerment of postal express delivery industry is not only reflected in express delivery enterprises, but also upstream suppliers need technological innovation. Mao Ruilong, the person in charge of Qinghai Hengnaite Packaging Technology Co., Ltd. told the reporter that with the continuous promotion of express green packaging, paper packaging is widely recognized by the public, which not only has use value, but also recycling value. "As a paper packing manufacturer, we are actively developing new products in outer packaging and transportation packaging. For example, micro-corrugated boxes, honeycomb cardboard, etc., make reusable and easy-to-recycle packaging as much as possible to help the green development of the express delivery industry. " Mao Ruilong said.

　　Mechanism promoting force

　　A product will be packaged when it leaves the factory, and the seller may also package it when it is delivered to the buyer. Each subject usually only pays attention to his own needs, ignoring the impact of express packaging on the environment. "Express packaging looks simple and actually involves multiple market players, which requires cooperation from all ends of the industrial chain." Wen Xiangcai, researcher and deputy chief engineer of China National Environmental Monitoring Center, told the reporter.

　　Sellers pay attention to how to reduce costs, users want things to be delivered safely, and courier brother pays attention to delivering as much as possible at a time … … "We hope to find a balance between different subjects and different demands, which is not only beneficial to the saving of the whole society, but also operable." Wen Xiangcai said, "To truly realize the green development of express packaging, we need a variety of means such as policy, technology and social management to cooperate."

　　Therefore, relevant experts suggest that green policies and regulations should be introduced, mandatory standards for packaging material quality and usage norms should be formulated, and a revolving fund system for express delivery should be established to raise public awareness of green through various supervision channels.

　　"From a policy point of view, it is not easy to introduce an industry standard, but only by formulating the relevant standard system for regulating express packaging materials and use as soon as possible can we establish a good market environment and let merchants find their way in market competition." Wen Xiangcai believes that many express delivery companies want to take a green development path, but they lack financial support. "Affected by the epidemic, online shopping is increasing, and the express packaging industry is developing faster and faster. It is recommended to establish a courier revolving fund system to support the research and development and promotion of green packaging technology. "

　　At present, a number of express delivery companies have launched recycling express boxes and shared recycling boxes, which have achieved initial results, but still have little impact on the treatment of express waste. The reason is that some experts believe that the problem of express garbage can’t only depend on express logistics enterprises, but also should be combined with the "trinity" of packaging production enterprises, e-commerce platforms and merchants to truly realize the optimization, upgrading, reduction and recycling of express packaging.

　　For example, express packaging suppliers should be creative and produce recyclable and more environmentally friendly packaging materials; E-commerce platforms and merchants with the largest express delivery business should avoid secondary packaging as much as possible on the premise of ensuring the safety of goods.

　　Duan Huabo, an expert on circular economy of the Chinese Society of Environmental Sciences, also believes that the environmental protection of express packaging should not only focus on express companies, but also e-commerce should join the "green ranks".

　　"It is understood that more than 80% of express parcels come from e-commerce. The packaging materials of such mails are generally provided by e-commerce, and express delivery companies only provide delivery services. However, there is currently a lack of green packaging requirements for goods sold by e-commerce, which also limits the promotion and use of green packaging. " (Economic Daily-China Economic Net reporter Zhu Junbi Feng Qiyu)

Xiaowei Chengdu

The central axis is the backbone of a city’s development

It’s the image of the city.

It is the most economically and culturally active area

Now it’s on the axis of the global cities.

The most representative example is Paris with the Seine as its axis.

In China, the most prestigious central axis is Chang’an Avenue in Beijing.

And in Chengdu "Baili City Central Axis" Tianfu Avenue

It will become the longest and rare urban axis in China

Gathering city bustling

Condensing urban culture

To clarify the development and pattern of the city

01

Where did Tianfu Avenue come from?

From the map, Renmin South Road and Tianfu Avenue

Like a straight beam of light, it opened the territory of Chengdu

However, before Tianfu Avenue

Renmin South Road was almost built into an alley only 7 meters wide

In 1958, Chengdu decided to rebuild Renmin South Road

Li Jieren, the first vice mayor of Chengdu after the founding of the People’s Republic of China

I have personally experienced the Champs Elysees.

A scenic spot across the heart of Paris

He is well aware of the 7-meter-wide Renmin South Road

It is absolutely impossible to meet the transportation needs of Chengdu’s urban development

Renmin South Road in the 1960s, according to Chengdu Local Chronicles

Li Jieren ignored opposition and built Renmin Road directly according to the width of 64 meters

Therefore, starting from Tianfu Square, via Renmin South Road

Connecting to the South Railway Station, a very clear urban central axis has taken shape

It also established the skeleton structure of modern Chengdu

Li Jieren (1891~ 1962), a native of Chengdu, Sichuan, is one of the most influential literary masters in modern China

In 1997, a bridge flying frame from north to south

Draw an arc above Chengdu South Railway Station and the railway line

This is one of the most famous landmarks in Chengdu, Tianfu Overpass

It’s like a huge bow pulled open

Instantly expand the pattern and vision of Chengdu

From then on, Renmin Road went south into the era of Tianfu Avenue

The history of Tianfu Avenue can be traced back to 15 years ago

In 2004, Chengdu approved the naming scheme for Tianfu Avenue

And Tianfu Avenue is divided into northern, middle and southern sections

In 2012, Chengdu proposed the concept of building a "hundred-mile city axis"

In 2016, the Baili axis became longer again

South to Renshou County in Meishan, north of Deyang Jingyang District

Ultimately up to 150 kilometers

So, this avenue connecting the north and south of Chengdu

How many lines are connected?

02

Outline the central axis of the city and open up the ridge of a city

Tianfu Avenue connects to the central axis of the city

The central axis is the keel of urban development

Guide the growth direction of the city

Strengthen the sense of order in the overall layout of the city

The axis of the cross of the town from ancient Rome

In ancient China, according to "Zhou Li · Kaogong Ji"

A city planned and built for discussion of urban layout

To the now globally recognized axis of Paris and Washington

The use of urban axes has always run through ancient times, at home and abroad

In an architectural sense

The urban axis is the landscape of a city

Function and development axis

Simply put, it is also the main road of the city

It has excellent transportation and logistics functions

The central axis of Tianfu Avenue is centered on Tianfu Square

The original main urban area urban axis along Renmin South Road and Renmin North Road

Extending north and south, penetrating the whole area

Open up a city axis connecting Deyang in the north and Meishan in the south

It is an economy that has witnessed the development history of Chengdu

Humanities, political lifeblood

It represents an urban aesthetic.

A deep sense of Chinese culture

It is also the development path that Chengdu has outlined for the city to the world

Professor Liu Li, a renowned urban planning scholar, once said:

"Where the city axis ****** where the city’s future lies

The urban axis represents the direction of urban expansion. "

In the long history of Chengdu, the urban landscape has been constantly changing

But it never left the central axis "Tianfu Avenue"

It reflects the inheritance and change of Chengdu culture and history

A magnificent building on the central axis

You can see the development of Chengdu

And along those lines, we’re seeing regions rise.

03

Connecting the south of the city into a line to create Chengdu’s "Wall Street"

Tianfu Avenue in the inner part of Chengdu

Crossing Chengdu Wuhou District, Chengdu High-tech Zone and Tianfu New District

North from Section 4 of Renmin South Road, South Railway Station East Road

Overpass above the intersection of South Railway Station West Road

South ends at the intersection of Fuhe Road and Hualong Road

After the planning and construction of Tianfu Avenue

Chengdu has entered a period of rapid development

It connects the new and the old, the fast and the slow in Chengdu

It also supports the city’s economic and industrial development

Overlooking Tianfu Avenue. According to the picture of summer

Along Tianfu Avenue, landmarks rise from the ground

The hundred-mile axis becomes three-dimensional and rich

In 1958, the stable and atmospheric Jinjiang Hotel appeared on the west side of the central axis

Become the first five-star hotel in Southwest China

And become a city landmark of Chengdu

In the 1980s.

The Sichuan Provincial Stadium, which can accommodate nearly 10,000 spectators, is built along the central axis

Its striking butterfly-style architectural shape is one of the landmark buildings in Chengdu

Jinjiang Hotel. According to the official website of Jinjiang Hotel

Tianfu Avenue connects the city to the south

Transforming the former south of the city from the original farmland and village community

It became the "Wall Street" of Chengdu.

After the establishment of the Financial City and Dayuan CBD

Now, this is the heart of Chengdu’s business district.

Inject more international genes into Chengdu’s urban development

After that, Chengdu Century City International Convention and Exhibition Center

Become a business card in Chengdu

Sugar and wine parties, travel expos… Various exhibitions are held here every year

Attracting global merchants, the flow of people

Financial City. According to ifeng.com Real Estate Chengdu Station

Tianfu Avenue is like a golden necklace

Connecting the brilliance of various regional commercial centers on both sides of the Baili axis

Witness the continuous prosperity of Chengdu’s business

Continuing to the south, Tianfu New District took advantage of the situation

"One City, Two Centers" Development Model

Let the Xinglong Lake plate become the highlight area of Tianfu New Area

Now, here is another landmark of Tianfu Avenue

Here are not only a variety of high-tech emerging industries

The data survey shows that

Chengdu currently has more than 300 Fortune 500 companies

70% of them are gathered on both sides of Tianfu Avenue

You can see an urban axis.

The ability to drive urban development is "leveraged"

It inspires the infinite potential of Chengnan Chengdu

04

"South Shangganan", the south extension line leads directly to Meishan

In 2015, the south extension of Tianfu Avenue was expanded to Renshou County, Meishan City

The total length is nearly 27 kilometers, and the main road is 8 lanes in both directions

Direct to Renshou Shigao Town

On January 13 this year, except for the second Eshan section

The Renshou section of Tianfu Avenue was completed and opened to traffic

The distance between Renshou City and Chengdu will be shortened to more than 30 kilometers

All the way north from Renshou County

It takes about 80 minutes to reach Chengdu Tianfu Square directly

According to the cover news

After the opening of Tianfu Renshou Avenue

Many companies along the route have already tasted the "sweetness"

The most direct manifestation is the saving of transportation costs

Some enterprises in Renshou only have one toll

You can save more than 100 yuan each time.

Not only that, but the planning and construction of Tianfu Renshou Avenue

Accelerated the pace of development in Chengmei City

Make Renshou fully accept the radiation drive of Chengdu

It not only shortens the space-time and psychological distance between Renshou and Chengdu

Promote the optimization and improvement of the traffic pattern

From north to south, it connects the Chengdu Economic Zone Ring Expressway

Important traffic arteries such as Chengdu Economic Circle Expressway and Meiren Jane Expressway

Upgrade Renshou from "South of Tianfu" to "South Gate of Tianfu"

Black Dragon Beach (Photography/Pan Jianyong)

Meanwhile, Shigao Town, Renshou County was included in the core area of Tianfu New District

It also brings great opportunities to Renshou

And the world’s largest high-end car

And intelligent end point display production line Xinli high-end display

Legoland, the second largest theme park in the world

China’s first energy Internet "Silicon Valley" California Smart City

Lenovo Dieyun Innovation Science and Technology Park, Sichuan-Hong Kong Cooperation Demonstration Park, etc

Major industrial projects have been established one after another, promoting industrial upgrading

In 2018, Renshou GDP broke through the 40 billion yuan mark

Successfully shortlisted for the National Green Development Top 100 Counties

National Investment Potential Top 100 Counties, Western China Top 100 Counties

However, if you think Meishan Renshou County

It is the end of the south extension of Tianfu Avenue

That would be naive.

According to the cover news

At present, the Leshan extension of Tianfu Avenue is under planning and construction

The planned Leshan extension of Tianfu Avenue

It is planned to connect Tianfu Renshou Avenue and go south to Wutongqiao through Jingyan County

Connect to Leshan Wuganmu Expressway

Via Wutongqiao District, Qianwei County, and ends in Muchuan County

In the future, it is expected to extend to Zigong and Luzhou

Fast access to Chongqing

05

All the way north, a line connects Deyang

As a north-south transportation axis

With the development of the city, Tianfu Avenue

It just keeps going.

All the way north, the north extension of Tianfu Avenue

Break ground

It is divided into two parts: Chengdu section and Deyang section

From the north section of Chengdu Second Ring Road in the south, to Qingyijiang Road in Deyang in the north

Renderings of Tianfu Avenue North Extension Line

Concatenated with "four districts and one city", namely Jinniu District, Chengdu

Chenghua District, Xindu District, Deyang City, Jingyang District, Guanghan City

Among them, the Deyang section is planned to be built in two phases

It is expected to be completed and opened to traffic by the end of 2022

"Baili Central Axis" runs through Chengdemei three cities

After the completion of the northern extension of Tianfu Avenue

"Kill" all the way from Deyang to Chengdu Second Ring Road

The journey will be shortened to about half an hour

If you continue south, it will take another half an hour or so

You can reach the core area of Tianfu New District all the way

Renderings of Tianfu Avenue North Extension Line

This urban axis will connect to the Tianfu International Financial Center

Tianfu Innovation Center, Xinglong Lake Ecological Zone

Sichuan Art Museum, Sichuan Science and Technology Museum, Chengdu Museum

Sichuan Provincial Library, Sanxingdui Museum

Qingbaijiang International Logistics Park

And the consulates general of the United States, Germany, Australia and other countries in Chengdu

This northerly extension

It is not only an important part of the north-south central axis of Tianfu

It is also the traffic artery of Chengde City

It is also an industrial fast track and an urban belt

Renderings of Tianfu Avenue North Extension Line

Although the northern extension of Tianfu Avenue has not yet been completed and opened to traffic

But its strong adsorption force has been demonstrated

Near Qingyijiang Road at the end of Deyang Section of the North Extension Line

A large number of public facilities are being put into operation

In addition, Mianyang has previously sent a letter to the Deyang City Transportation Department

Hope to be able to Chengde Avenue, Tianfu Avenue North Extension, etc

Transportation projects continue to expand northward

Connect with Qingquan Baolin in Anzhou, Mianyang, and Mojia in High-tech Zone

At present, a road in Mianyang has been built to the border

In the future, the northern extension of Tianfu Avenue is expected to be connected to Mianyang

According to the Sichuan Daily

06

Tianfu Avenue connects the north-south economic axis of Sichuan

The urban central axis is an important plan for organizing urban space

And the way we organize our cities is by axes.

Make a more orderly whole

For Chengdu

The urban central axis is not only the control and command of urban space

It is also the concentration of the highest quality factor resources for economic development

The city’s central axis connects the city’s "dual core"

– Central City and Tianfu New District

Along the way, Chengdu’s tens of billions of business districts and central business district are gathered

Financial center, software park, etc., major landmark buildings

The dense layout of major complexes

People flow, logistics, information flow, and capital flow converge here

However, the significance of the urban central axis is not limited to Chengdu

It’s not just fast lanes that connect several cities

And it also connects the three cities of Chengdemei

For the development of Chengdu, Deyang and Meishan

Provide a physical vehicle

People flow, logistics, information flow

To be able to move more smoothly across the land

It is the north-south economic axis of Sichuan

Its appearance

Let the development pattern of Chengdu Plain Economic Zone take on a new look

The penetration of this central axis

For Chengdu, new development opportunities can be rapidly opened up

Enhance the first city’s ability to gather and allocate high-end resources.

For Deyang, Meishan, Leshan

By sharing Chengdu’s development environment and policies

Development resources, development platforms

It can form a superposition of "Chengdu advantage" and "local advantage"

Realize "Get the moon first"

A bird’s-eye view of Chengdu Tianfu Avenue, Photography: Hao Fei

Meanwhile, Tianfu Avenue extends from north to south

They can also organize the space.

Let the existing economic activities in the region along the route

Gradually gather on the axis

Ultimately, it formed the economic development of Sichuan

An extremely important economic axis

07

Tianfu Avenue connects the green ecological line that runs through the north and south

Tianfu Avenue not only extends the ideal

It opens up life.

This is a hundred-mile axis running from north to south

Outline a green ecological line

Chengdu’s largest urban park and lake

There are also large and small parks scattered on both sides of the axis

Green spaces, rivers, hills

Let this "Baili City Central Axis"

Glowing with unprecedented vitality

Jinjiang extends from west to east to the city center

Follow the central axis to Tianfu Avenue all the way

Create a Jinjiang ecological river

It is also located in the southern section of the Ring Expressway, on both sides of the central axis

With natural forests

Large areas of grassland and open lakes dominate

Night Run Paradise Kam Cheng Lake

Xinglong Lake

Xinglong Lake Science City

Phoenix Mountain, Pihe River, etc. in the north of the city

Phoenix Mountain

Nowadays, Phoenix Mountain Music Park has been formed in the area

Phoenix Mountain Park, North International Trade City, etc

Landmark buildings and park landscapes

Phoenix Mountain Music Park. Picture @landscape rachel

And the Phoenix Mountain Sports Center under construction

Renderings of Phoenix Mountain Sound Sports Center

The construction of the sports center

It is a major project for Chengdu to achieve the goal of becoming a world famous city

There are also large areas of green space and park facilities

The most unique natural ecological background next to these central axes

Building a beautiful and livable park city for Chengdu

Draw the clearest outline

08

Tianfu Avenue connects to the North-South Cultural Tourism Line

Rich cultural tourism resources along Tianfu Avenue

After beading into a chain, it is expected to form a cultural tourism line

From north to south, the former residence of Li Bai, Sanxingdui, Tianfu Square

"The First Sea in Western Sichuan" Black Dragon Beach, Leshan Giant Buddha

Shunan bamboo sea, dinosaur fossils, Chinese winery…

Eat, drink and have fun along Tianfu Avenue and see the legends of Shuzhong

There are also Sichuan Art Museum and Sichuan Science and Technology Museum

Sanxingdui Museum is near the road, go to Deyang to play a circle

A day is more than enough time, more than an hour between the two places

There’s no rush.

Except for a number of scenic spots

This north-south traffic thoroughfare

Closing the distance between delicious food and foodies

For example, the chicken in Leshan

Guanghan’s Silk-Wrapped Rabbit

Deyang’s Crispy Chicken Dumplings

The eastern slope of Meishan

Meishan Renshou Sesame Cake

Maybe in the future

Someone asked, Where is your home?

Chengdu people, Renshou people, Leshan people,

Zigong people, Luzhou people, Yibin people,

The people of Deyang and Mianyang said in unison:

On the edge of Tianfu Avenue!

Chengdu City Central Axis Tianfu Avenue

Like a straight guy

Straight to the north and south, no questions about the west and east

As the "main artery" of the city

It affects the development and pattern of Chengdu

Where would Tianfu Avenue go next?

Comprehensive: Sichuan Daily, Sichuan Online, Cover News, UPchengdu Chengdu Upward, Chengdu Planning, etc

Original title: "How many lines does Tianfu Avenue connect?"

Read the original text

It is no exaggeration to say that the two most tonal car brands within the 300,000, one is BMW and the other is Mercedes-Benz Smart.

In fact, many small partners usually consider these two car brands when buying a car. So which of these two car companies’ electric cars is more original? In fact, looking at the Mercedes-Benz smart series, it is difficult to find the design of the previous small hatchback, but it is getting bigger and bigger. After all, Mercedes-Benz smart has also been discontinued for a time. With the advent of the electrification era, although it has been revived, it is basically not very similar to the previous fuel version.

In contrast, BMW’s electric MINI, although it has been electrified, many details are still designed to move closer to fuel vehicles, such as still having"Play Limit"The mechanical design of this machine offers better handling properties.

Now the starting price of the electric MINI COOPER has come to 148,800, such a price is after the price reduction, because the original price of 209,800 yuan.

Of course, after actual understanding, the entry-level model has no existing car, and needs to be installed to a certain extent, and most users install a 10-speaker Harman card stereo. The advantage of the installation is that the invoice price exceeds 150,000 yuan, so you can enjoy a large policy subsidy (generally more than 150,000 yuan subsidy is higher). For users, in fact, they did not pay more, but enjoyed a better configuration.

From the power system point of view, the electric MINI COOPER adopts a single motor front drive design, with a maximum power of 135 kilowatts and a peak torque of 290N · m. Of course, if you buy a medium and high configuration model, the power of the motor reaches 160kW and the peak torque is 330N · m, the performance is still very strong, and the battery life of the whole vehicle exceeds 450km, and the whole system has fast charging function. So whether it is a daily commute to get off work or a long-distance outing, there is no problem.

The exterior design is still original and retains the familiar BMW MINI family design, so I think even the electric version of the BMW MINIi is also worth choosing. In addition, the two-color appearance, round retro headlights are very comprehensive, and it is standard with 18-inch wheels, which is extremely kind.

We are also very familiar with the interior design, featuring a circular LED large-screen design, a three-frame multi-function leather steering wheel, leather seats with a circular angle, and an electric sunroof on mid-to-high-end models.

Of course, as for some classic elements, such as frameless doors, environmentally friendly fabric interiors, and the pushover of aircraft buttons, we can also choose intelligent driver assistance systems, making it easier to go out and drive.

Although 148,800 is actually not easy to buy our new car, but even after the installation is still particularly advantageous, the price has not become too expensive. 10 Harman card stereo, plus the removal of the country after the price of the naked car, really fragrant, do not need to pay the purchase tax, landing is very advantageous.

In fact, some people only know that the BMW MINI has a personality and tone. In fact, the value preservation of the BMW MINI actually exceeds that of the BMW, which is not clear to many people. Compared with the BMW MINI R56 of the same year and the same price, the residual value of the BMW MINI R56 used car is much higher. It can be seen that whether it is a new or used car, the BMW MINI is very popular.

At this moment, the author came to Jinan Jinwengtong Kia 4S store to punch in the strategic vehicle -EV5 launched by Kia in China and facing the world. The question is, can EV5 play in China’s new energy vehicle market with such fierce competition? Come on, I’ll show you!

As usual, let’s take a look at its face value first. The new digital roaring front face is further advanced, more electric and modern; On the side, the tough posture is full and three-dimensional, with the new 18-inch dynamic wheels. Needless to say, in terms of strength, the interpretation is in place; The tail is also remarkable. Whether it is the taillight design, the roof spoiler and the innovative rear bumper design, the EV5 is particularly full and capable!

Ok, look at the appearance, and then look in the car. Needless to say, this big seat is quite comfortable. Compared with ID.4 Crozz, EV5 is equipped with seat heating, which is more friendly for winter cars. And the large size of the head can open the panoramic skylight, which is also very wow. I just wonder, why do you need to choose such a good thing, ID.4 Crozz?

Of course, I am most interested in this 27-inch integrated triple screen (12.3-inch colorful LCD dashboard, 12.3-inch multimedia touch screen and 5-inch air-conditioning touch screen), which is so cool. In particular, the built-in KIA’s latest generation ccNC intelligent internet entertainment system is not only more practical, but also greatly increases the fun of driving. It is worth mentioning that EV5 supports both Baidu CarLife and Apple wireless CarPlay, in which CarPlay supports wireless connection and wired connection. This can be said to be very convenient.

Next, let’s have a look in the back row. With a length of 4,615mm and a wheelbase of 2,750mm, the EV5 not only provides a spacious and comfortable space, but also adopts a fully flat floor in the rear row compared with the ID.4 Crozz design, even if it is full of three people, it will not be too cramped. If you actually experience it, just two words, comfortable! By the way, in terms of space, KIA EV5′ s unique 67L super-large capacity front reserve box is also not available in competing products such as ID.4crozz.

Of course, for an electric car, users are most concerned about Sandian. First of all, it should be emphasized that EV5 is developed based on the special E-GMP platform for the world’s top electric vehicles. The total motor power is 160 kW, the maximum speed reaches 185km/h, and it is equipped with a battery pack of 64.2kWh. The cruising range of CLTC is 530 km, and it takes only 27 minutes to charge the battery from 30% to 80%. It is not difficult to see that these five key data of KIA EV5 are better than ID.4crozz.. And the price of 159,800 is more sincere than the price of ID.4cross193,900.

If you have an actual driving experience, you don’t need to talk more about starting acceleration. For an electric car, the power is absolutely with you. It is commendable that the EV5 adopts the front McPherson independent suspension and the rear five-link independent suspension, which can bring more comfortable handling experience and do a good job in restraining roll and pitch. In addition, thanks to KIA’s excellent site adjustment, EV5 can also bring good performance in the face of bumpy roads, and its earthquake filtering ability is excellent.

Finally, the safety is briefly introduced. Compared with ID.4 Crozz, KIA EV5 comes standard with 7 airbags, and adopts a disc-type rear brake, so the braking effect is better. In addition, EV5 530 Land version is equipped with rich L2+ intelligent driving assistance functions. At the same time, all models have strengthened the body battery structure protection design and battery safety management, and are equipped with cutting-edge functions such as front anti-collision assistance, second-generation remote control intelligent parking assistance and parking anti-collision assistance.

Finally, make a simple summary:

What needs to be mentioned in particular is that the price of the EV5 530 Air version is only 159,800 yuan, which also makes KIA EV5 a representative model of 150,000 joint venture pure electric SUV, and it is the best choice for 150,000-class household pure electric SUV. Of course, if you think that the battery life of 530km is not enough, there is a 720km long battery life version to choose from. At the end of the day, I want to ask you, about the 150,000-class household pure electric SUV, why is KIA’s brand-new EV5 the optimal solution? You know!

[Autohome Lianyungang Discount Promotion Channel] Good news continues! At present, the Lianyungang market that has attracted much attention is conducting unprecedented promotions. The maximum discount is as high as 135,000 yuan, bringing real benefits to consumers. The starting price is already as low as 613,800 yuan, which makes the cost performance of Mercedes-Benz GLE even more prominent. If you want to seize this rare opportunity, hurry up and click "Check the car price" in the quotation form, let professional auto consultants reveal more preferential policies for you, and seize the opportunity to buy a car!

The Mercedes-Benz GLE has an elegant and powerful exterior design, and the front face adopts the classic Mercedes-Benz Star Emblem Shield air intake grille, with sharp LED headlights, creating a majestic and delicate temperament. The body lines are smooth, highlighting the sporty style of a luxury SUV. The overall style is both business and sports, showing the perfect fusion of luxury and technology.

The Mercedes-Benz GLE outlines its unique design aesthetic with elegant side lines. The body dimensions are 4927mm*2018mm*1797mm in length, width and height, and the wheelbase reaches 2995mm, providing a spacious interior space. The front wheelbase of 1679mm and the rear wheelbase of 1728mm guarantee excellent stability. On the tire specification, the Mercedes-Benz GLE is equipped with high-performance tires of 275/55 R19, which complement the dynamic rim style, not only improving the driving performance, but also giving the vehicle a stronger visual impact.

The interior design of the Mercedes-Benz GLE is full of luxury and technology. The interior style is exquisite and focuses on comfort. The steering wheel wrapped in high-grade leather material not only has an excellent grip, but also supports manual up and down and front and rear adjustment to adapt to the needs of different drivers. The 12.3-inch large-size central control screen highlights the intelligence of the vehicle. It integrates various functions such as multimedia system, navigation and phone, which is convenient to operate and has outstanding visual effects.

In terms of seats, both the main driver’s seat and the passenger’s seat are made of imitation leather, which provides multi-directional adjustment of front and rear, backrest, height and waist support to ensure the comfort of long-distance driving. The front seats are also equipped with heating and ventilation functions to meet the driving needs of different seasons. In addition, the rear seats support proportional reclining, with high space utilization, making it easy to load bulky items.

Whether it is the meticulous details or the comprehensive technical configuration, the interior of the Mercedes-Benz GLE fully demonstrates its commitment to quality and practicality, creating a luxurious and convenient interior environment for drivers.

The Mercedes-Benz GLE is equipped with a 2.0T turbocharged engine with a strong output of 258 horsepower and a maximum power of 190 kilowatts. The engine provides 400 Nm of torque, ensuring smooth power transfer in the vehicle. With a 9-speed automatic transmission, the Mercedes-Benz GLE shows efficient power matching and flexible handling performance during driving.

Summarizing the owner’s experience, the Mercedes-Benz GLE attracted her with its unique exterior design and strong sporty atmosphere, and she was satisfied with the handling and interior comfort. In addition, the owner also praised its excellent stability, which were important factors in her choice of this luxury SUV. Whether it is the appearance of domineering or the internal sense of control, the Mercedes-Benz GLE undoubtedly provides the driver with an unparalleled driving experience.