On November 25, 2021, the Appointment Ceremony of the Frost & Sullivan's Expert Committee on Growth Strategy was held during the company's 60th anniversary celebration at the Shanghai Nanjing Marriott Hotel.   On November 25, 2021, the Appointment Ceremony of the Frost & Sullivan's Expert Committee on Growth Strategy was held during the company's 60th anniversary celebration at the Bellagio Shanghai.   The membership of the Frost & Sullivan growth strategy expert committee is very comprehensive, including outstanding entrepreneurs from listed companies both domestically and internationally, leaders from the investment and finance sectors, top professional service providers, brokerage firms, media industry pioneers, representatives of international organizations, and more than 20 senior professionals with significant industry influence.   The composition of the Frost & Sullivan's Expert Committee on Growth Strategy is very diverse, and they all have a great impact and contribution to the industries. The panel has over 20 members, including representatives of outstanding domestic and foreign listed company entrepreneurs, financial institutions, investors and financiers, professional service providers, securities firms, media, international organizations, industry experts, and academic scholars.   The specific list of the Frost & Sullivan growth strategy expert committee is as follows:   The following constitutes the list of the Frost & Sullivan's Expert Committee on Growth Strategy:   Entrepreneur representatives Enterprise representatives Listed companies Companies on the list Mr. Yang Guoping, Chairman of Shanghai Volkswagen Business Group Mr. Yang Guoping, Chairman and Executive Director of Shanghai Dazhong Public Utilities Ms. Zhao Yan, Chairman of HuaXi Biotechnology Ms. Zhao Yan, Chairman of Bloomage Biotech   Technology companies Technology companies Mr. Tang Zhenyi, Vice President of SenseTime Mr. Coach Tang, Vice President of SenseTime   Minsheng enterprises Private companies Mr. Liu Zhi, Founder of Chengdu Dalongyi Catering Mr. Liu Zhi, Founder of Dalongyi Catering   Central state-owned enterprise State-owned enterprise Ms. Wang Jie, Chairman of Sinopharm ChuangFu Ms. Wang Jie, Chairman of Sinopharm ChuangFu   Representatives from the financial industry Representatives from the financial industry International financial institutions International financial institutions Dr. Hu Jiguang, Managing Director of UBS Securities and Head of China Investment Banking Department Dr. James Hu, Managing Director of Bank of America Securities, Inc. and Head of China Investment Banking Department Mr. Meng Yi, General Manager and Vice Chairman of HSBC Global Bank China Mr. Meng Yi, General Manager and Vice Chairman of HSBC Global Bank China   Domestic financial institutions Domestic financial institutions Mr. Cheng Jie, Managing Director of CITIC Securities and Head of Global Healthcare Industry of the Global Investment Banking Department Mr. Cheng Jie, Managing Director of CITIC Securities and Head of Global Healthcare Industry of the Global Investment Banking Department   Representatives from the investment community Representatives from the investment community Domestic investment institutions Domestic investment institutions Mr. Fan Yin, Executive Vice President and Managing Director of Gimpo Industrial Investment Fund Management Mr. Fan Yin, Executive Vice President and Managing Director of Gimpo Industrial Investment Fund Management Mr. Zhang Lan Ding, CEO of Silicon Alpha Investment Mr. Zhang Landing, CEO of CYAMLAN Investment Mr. Liu Shaoqiang, Managing Director of Great Cannon Capital Mr. Gary Liu, Managing Director of Centurium Capital   Representatives from international investment institutions International investment institutions Dr. Shen Lifen, External Director of Shenzhen Special Economic Zone Construction & Development Group and Deputy Secretary General of Hong Kong-Mainland International Investment Society Dr. Selina Shen, External Director of Shenzhen Special Economic Zone Construction & Development Group and Deputy Secretary General of Hong Kong-Mainland International Investment Society Mr. Huang Yong, President of Procter & Gamble Alumni Association and Founding Partner of PGA Capital Mr. Xu Lei, Partner of Auster Capital and Member of the Investment Committee Mr. Michael Xu, Partner of Auster Capital and Member of the Investment Committee Representatives from academic scholars   Representatives from academic scholars Academician Wang Guangji of the Chinese Academy of Engineering Mr. Wang Guangji, Academician of the Chinese Academy of Engineering Professor Wang Yu, Expert Consultant of Global Health Forum of Boao Forum for Asia, Doctor of Vanke School of Public Health, Tsinghua University Professor Wang Yu, Expert Consultant of Global Health Forum of Boao Forum for Asia, Doctor of Vanke School of Public Health, Tsinghua University Representatives from international organizations   Representatives from international organizations Ms. Luo Xiaoqin, Deputy Director of the Organizing Committee of Global Health Forum of Boao Forum for Asia Ms. Lily Hong, Founder and Vice Chairman of Hermitage China Representatives from professional service institutions Representatives from professional service institutions Partner of EY Global and member of the Investment Committee   Mr. Xu Lei, Partner of Auster Capital and member of the Investment Committee Representatives from academic experts Representatives from academic scholars Academician Wang Guangji of the Chinese Academy of Engineering Professor Wang Yu, Expert Consultant of Global Health Forum of Boao Forum for Asia, Doctor of Vanke School of Public Health, Tsinghua University Professor Wang Yu, Expert Consultant of Global Health Forum of Boao Forum for Asia, Doctor of Vanke School of Public Health, Tsinghua University Ms. Zhao Xiaohong, Managing Partner of King & Wood Mallesons Ms. Zhao Xiaohong, Managing Partner of King & Wood Mallesons Mr. Gary Liu, Managing Director of Centurium Capital Mr. Gary Liu, Managing Director of Centurium Capital   Mr. Liu Zhi, Founder of Dalongyi Catering   Mr. Liu Zhi, Founder of Dalongyi Catering   Mr. Yang Guoping serves as the chairperson of the committee, Mr. Meng Yi serves as the chairperson of the executive committee, and Dr. Selina Shen serves as the secretary-general of the committee.   At the same time, a standing committee was established, and its members include Mr. Yang Guoping, Dr. James Hu, Mr. Michael Bi, Ms. Yu Xin, Mr. Fan Yin, Mr. Zhao Xiaoguang, Ms. Lily Hong, Professor Wang Yu, and Ms. Zhao Xiaohong.   At the appointment ceremony, Dr. Neil Wang, Global Partner of Frost & Sullivan and President of Frost & Sullivan Greater China, and Mr. Yves Wang, Managing Partner and Managing Director of Frost & Sullivan Greater China, presented appointment certificates to the expert committees and took group photos as a memento.   At the appointment ceremony, Neil Wang and Yves Wang presented appointment certificates to the expert committees and took group photos as a memento.   Neil Wang and Yves Wang jointly presented appointment certificates to Mr. Yang Guoping Neil Wang and Yves Wang presented appointment certificates to Mr. Yang Guoping Neil Wang and Yves Wang jointly presented appointment certificates to Dr. Hu Jiguang Neil Wang and Yves Wang presented appointment certificates to Dr. James Hu Neil Wang and Yves Wang jointly presented appointment certificates to Mr. Bi Neil Wang and Yves Wang jointly presented appointment certificates to Ms. Wang Jie Neil Wang and Yves Wang jointly presented appointment certificates to Ms. Wang Jie Neil Wang and Yves Wang presented appointment certificates to Ms. Wang Jie Neil Wang and Yves Wang presented appointment certificates to Ms. Yu Xin Neil Wang and Yves Wang presented appointment certificates to Ms. Yu Xin Neil Wang and Yves Wang jointly presented appointment certificates to Mr. Cheng Jie Neil Wang and Yves Wang presented appointment certificates to Mr. Cheng Jie Neil Wang and Yves Wang jointly presented appointment certificates to Ms. Huang Yong Neil Wang and Yves Wang presented appointment certificates to Mr. York Huang Neil Wang and Yves Wang presented appointment certificates to Ms. Luo Xiaoqin Neil Wang and Yves Wang presented appointment certificates to Ms. Luo Xiaoqin Neil Wang and Yves Wang presented appointment certificates to Mr. Zhao Xiaoguang Neil Wang and Yves Wang presented appointment certificates to Mr. Zhao Xiaoguang Neil Wang and Yves Wang presented appointment certificates to Mr. Fan Yin Neil Wang and Yves Wang presented appointment certificates to Mr. Fan Yin Neil Wang and Yves Wang jointly presented appointment certificates to Ms. Hong Yingli Neil Wang and Yves Wang presented appointment certificates to Ms. Lily Hong Neil Wang and Yves Wang presented appointment certificates to Dr. Selina Shen Neil Wang and Yves Wang presented appointment certificates to Dr. Selina Shen Neil Wang and Yves Wang presented appointment certificates to Mr. Zhang Lan Ding Neil Wang and Yves Wang presented appointment certificates to Mr. Zhang Lan Ding Neil Wang and Yves Wang jointly presented appointment certificates to Ms. Zhao Yan (Ms. Gao Yi collected on behalf) Neil Wang and Yves Wang presented appointment certificates to Ms. Zhao Yan (Authorized for collection: Ms. Gao Yi) Neil Wang and Yves Wang jointly presented appointment certificates to Mr. Meng Yi (Mr. Qi Peng collected on behalf) Neil Wang and Yves Wang presented appointment certificates to Mr. Meng Yi (Authorized for collection: Mr. Kevin Qi) Neil Wang and Yves Wang jointly presented appointment certificates to Ms. Zhao Xiaohong (Ms. Mei Mei collected on behalf) Neil Wang and Yves Wang presented appointment certificates to Ms. Zhao Xiaohong (Authorized for collection: Ms. May Mei) Neil Wang and Yves Wang jointly presented appointment certificates to Mr. Liu Shaoqiang (Mr. Lu Jing collected on behalf) Neil Wang and Yves Wang presented appointment certificates to Mr. Gary Liu (Authorized for collection: Mr. Gabriel Lu) Neil Wang and Yves Wang jointly presented appointment certificates to Academician Wang Guangji (Mr. Ding Xiaofei collected on behalf) Neil Wang and Yves Wang presented appointment certificates to Academician Wang Guangji (Authorized for collection: Mr. Ding Xiaofei) Neil Wang and Yves Wang jointly presented appointment certificates to Professor Wang Yu (Ms. Luo Xiaoqin collected on behalf) Neil Wang and Yves Wang presented appointment certificates to Professor Wang Yu (Authorized for collection: Ms. Luo Xiaoqin) Neil Wang and Yves Wang jointly presented appointment certificates to Mr. Liu Zhi (Mr. Ye Jun collected on behalf) Neil Wang and Yves Wang presented appointment certificates to Mr. Liu Zhi (Mr. Frank Ye collected on behalf) Neil Wang and Yves Wang jointly presented appointment certificates to Mr. Xu Lei (Dr. Han Bin collected on behalf) Neil Wang and Yves Wang presented appointment certificates to Mr. Michael Xu (Authorized for collection: Dr. Han Bin) Neil Wang and Yves Wang jointly presented appointment certificates to Mr. Tang Zhenyi (Mr. Lu Jing collected on behalf) Neil Wang and Yves Wang presented appointment certificates to Mr.  Coach Tang (Authorized for collection: Mr. Gabriel Lu) Group photo at the appointment ceremony Group photo of the Appointment Ceremony In the future, the Frost & Sullivan growth strategy expert committee will fully leverage its strengths and expertise, gather wisdom from all sectors, focus on growth, serve growth, and contribute to China's economic development!   In the future, the Frost & Sullivan's Expert Committee on Growth Strategy will give full play to its strengths and expertise, gather wisdom from all walks of life, focus on growth and serve growth in order to contribute to China's economic development!

On November 25, 2021, the appointment ceremony for the Growth Strategy Expert Committee of Frost & Sullivan (Frost & Sullivan, abbreviated as: Frost & Sullivan) was held grandly at the Shanghai Suning Bao Li Jia Hotel during the celebration of the company's sixtieth anniversary.   The membership of the Frost & Sullivan Growth Strategy Expert Committee is very comprehensive, including representatives of outstanding listed company entrepreneurs both domestically and internationally, leaders from the Chinese and foreign investment communities, financial industry executives, top professional service institutions, securities firms, media industry pioneers, representatives of international organizations, as well as over 20 senior professionals with significant industry influence, such as experts and scholars.   The following is the specific list of members of the Frost & Sullivan Growth Strategy Expert Committee:   Entrepreneur Representative listed company Mr. Yang Guoping, Chairman of Shanghai Volkswagen Group Ms. Zhao Yan, Chairman of Huaxi Biology   Technology companies Mr. Tang Zhenyi, Vice President of Shangtang Technology   Minsheng Enterprise Mr. Liu Zhi, Founder of Chengdu Dalongyi Catering Management Co., Ltd.   Central enterprise Ms. Wang Jie, Chairman of the State-owned Assets Control Innovation Service   Financial industry representative International financial institutions Dr. Hu Jiguang, Managing Director of BofA Securities and Head of the China Investment Banking Department Mr. Meng Yi, Head of Global Banking China and Vice Chairman of HSBC   domestic financial institutions Mr. Cheng Jie, Managing Director of CITIC Securities and Head of the Global Healthcare Industry at the Global Investment Banking Group   Representatives from the investment community Domestic investment institutions Mr. Fan Yin, Executive Vice President and Managing Director of Jinpu Industrial Investment Fund Management Co., Ltd. Mr. Zhang Landing, CEO of Silicom Investment Mr. Liu Shaoqiang, Managing Director of Dazheng Capital   International investment institutions Dr. Shen Lifeng, External Director of Shenzhen Special Economic Zone Construction and Development Group and Deputy Secretary-General of the Hong Kong International Investment Council Mr. Huang Yong, President of Procter & Gamble Alumni Association and Founding Partner of P&G Innovation Consumer Fund Mr. Xu Lei, Partner and Member of the Investment Committee of Southwind Capital Co., Ltd.   Academic expert representative Academician Wang Guangji of the Chinese Academy of Engineering Professor Wang Yu from the School of Public Health and Health Sciences, Tsinghua University, and Expert Advisor to the Global Health Forum of the Boao Forum for Asia   Representatives of international organizations Ms. Luo Xiaoqin, Deputy Director of the Organizing Committee for the Boao Forum for Asia Global Health Ms. Hong Yingli, Founder and Vice President of the Aima Art Foundation   Representatives of professional institutions Mr. Bi Shunjie, Partner-in-Chief of EY Greater China Ms. Yu Xin, General Manager of New Fortune Group Mr. Zhao Xiaoguang, Vice President of Tianfeng Securities and Director of the Research Institute of Tianfeng Securities Ms. Zhao Xiaohong, Executive Partner of the China Management Committee at King & Wood LLP   It is reported that the Frost & Sullivan Growth Strategy Expert Committee is chaired by Mr. Yang Guoping, with Mr. Meng Yi serving as the executive committee chairperson and Dr. Shen Lifeng as the secretary-general of the committee.   At the same time, a Standing Committee is established, which includes Mr. Yang Guoping, Dr. Hu Jiguang, Mr. Bi Shunjie, Ms. Yu Xin, Mr. Fan Yin, Mr. Zhao Xiaoguang, Ms. Hong Yingli, Professor Wang Yu, and Ms. Zhao Xiaohong.   At the appointment ceremony, Dr. Wang Xin, Global Partner and President of Frost & Sullivan Greater China, together with Mr. Wang Chenhui, Partner and Managing Director of Frost & Sullivan Greater China, jointly presented appointment certificates to the expert committee members and took a group photo.   Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Yang Guoping. Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Dr. Hu Jiguang. Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Bi Shunjie Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Ms. Wang Jie Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Ms. Yu Xin Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Cheng Jie Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Huang Yong. Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Ms. Luo Xiaoqin Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Zhao Xiaoguang Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Fan Yin Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Ms. Hong Yingli Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Dr. Shen Lifeng. Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Zhang Landing. Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Ms. Zhao Yan. (Ms. Gao Yi acting as the delegate) Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Meng Yi (Mr. Qi Peng is taking charge) Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Ms. Zhao Xiaohong. (Ms. Mei Mei is taking charge on behalf of us) Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Liu Shaoqiang (Represented by Mr. Lu Jing) Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Academician Wang Guangji (Mr. Ding Xiaofei is acting as the host.) Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Professor Wang Yu. (Miss Luo Xiaoqin acting as the delegate) Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Liu Zhi. (Mr. Ye Jun is acting as the host.) Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Xu Lei (Dr. Han Bin presides over the meeting on behalf of all delegates.) Dr. Wang Xin and Mr. Wang Chenhui jointly presented the appointment certificate to Mr. Tang Zhenyi. (Represented by Mr. Lu Jing) Group photo at the appointment ceremony   In the future, the Frost & Sullivan Growth Strategy Expert Committee will fully leverage its strengths and expertise, pool the wisdom of all sectors, focus on growth, serve growth, and contribute to China's economic development!

Frost & Sullivan insights The Shanghai Data Exchange was established on the 25th in Pudong New Area, Shanghai. On its first day, 20 data products were listed, covering eight major categories including finance, transportation, and communications, taking a crucial step towards building Shanghai as an "International Digital Capital." The first batch of 100 enterprises signing up with the exchange includes data trading entities such as State Grid Shanghai Electric Power, law firms like Lijian Law Firm, accounting firms like PricewaterhouseCoopers, delivery-oriented companies like Fusu Technology and Youke Digital. Dr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan (Frost & Sullivan, abbreviated as: F&S), said in an interview with Xinhua News Agency that the establishment of the Shanghai Data Exchange plays an important role in eliminating industry pain points and promoting sustainable development by standardizing data transactions while strengthening supervision and enhancing data security.   Xinhua News Agency As an important measure for China to promote the circulation of data elements, unlock digital dividends, and boost the development of the digital economy, the Shanghai Data Exchange was established on the 25th in Pudong New Area, Shanghai. On its first day, 20 data products were listed, covering eight major categories including finance, transportation, and communications, taking a crucial step towards building Shanghai into an 'International Digital Capital'.   "Trade without scenarios," here are the five highlights of the exchange On the first day of its establishment, ICBC Shanghai Branch reached a transaction with State Grid Shanghai Electric Power, leveraging the latter's energy data to provide innovative financial products and services; DataBank Technology, an industrial big data service provider, and JiuKun Investment completed the first data transaction in the field of quantitative asset management.   The reporter saw on the screen of the data product trading quotes at the Shanghai Data Exchange that the information was listed separately, including product name, supplier name, listing code, product type, data product registration certificate, data product manual, compliance manual, data quality assessment, and other details.   The Inauguration Ceremony of the Shanghai Data Exchange and the Venue of the 2021 Shanghai Global Digital Commerce Conference   With the pace of the era shifting from informatization to dataization, data flow is becoming a key carrier for activating human flow, logistics, technology flow, and capital flow. Data will also transform from data resources to data elements, then to data assets, and finally to data capital.   In response to key common challenges in data circulation such as rights confirmation, pricing, mutual trust, entry, and regulation, the newly established Digital Exchange has formed five innovative arrangements: First, it has released a digital commerce system, completely constructing a new 'digital commerce' business format. Second, it has issued supporting systems for data transactions, establishing the basic principle of 'no listing without compliance, no transaction without a scenario'. Third, it has released a fully digitalized data trading system that ensures full-time listing, global transactions, and full-process traceability for data transactions. Fourth, it has issued data product registration certificates, achieving one number, one code, which can be registered, counted, and surveyed. Fifth, it has issued data product manuals, making data readable in the form of manuals, transforming abstract data into tangible products.   Zhang Qi, Chairman of the Shanghai Data Exchange, said that in order to better 'escort' data trading, on the day of its establishment, the Shanghai First Data Trading Expert Committee was formed, consisting of 31 experts in fields such as legal compliance, financial transactions, the data industry, and data security. It will provide consulting opinions and professional guidance for data circulation and trading, making safety, standardization, and orderliness key characteristics of the Shanghai Data Exchange.   "Digital Commerce" Releases New Industrial Opportunities Data, as an important factor of production, is a new engine driving economic development, quality transformation, efficiency improvement, and innovation. Currently, there are over 1,000 core big data enterprises in Shanghai, with more than 5,000 public datasets opened up. The peak daily traffic of commercial data has reached 100 million records. A large number of landmark and demonstrative applications have been implemented and promoted, effectively driving the high-quality development of the economy and society.   Huang Lihua, Executive Deputy Director of the National Engineering Laboratory for Big Data Circulation and Transaction Technology, stated that 'data merchants' refer to economic entities that take data as the main object or primary raw material for business activities. Releasing the 'three types of value' (discoverers, value enablers, connectors, and service providers) from data elements is the mission of 'data merchants'.   Awarding Ceremony of the First Transaction Commemorative Certificate of Shanghai Data Exchange   Among the first batch of 100 enterprises signing with the data exchange market, there are data trading entities such as State Grid Shanghai Electric Power, law firms like Lianhe Law Firm, accounting firms like PricewaterhouseCoopers, and delivery-oriented enterprises like Fosun Technology and Youke Digital.   Shen Xin, President of Shouku Technology, stated that the establishment of exchanges has opened a green channel for enterprises that value data compliance, encouraging them to invest in original content. This is a prerequisite for the healthy development of China's digital exchange market in the future and also holds significant importance for the construction of the new 'digital commerce' business model.   "In the past, the company's data mainly served the municipal government for 'one network for handling affairs' and 'one network for unified management', which was of a public welfare nature. This is my first time participating in data trading, mainly because I value the government's platform, legality and compliance, as well as institutional innovation." A relevant person from State Grid Shanghai Electric Power Company said that data is a treasure trove, and they hope that through the exchange, more people can see the role of power data. In the future, data products may be designed for energy conservation and emission reduction, providing references for carbon credits, energy conservation and emission reduction, etc.   Ji Xinhua, Chairman of Ucloud, the first cloud computing listed company on the A-share market, said that the exchange has promoted orderly and standardized data trading by establishing basic systems such as data rights confirmation, registration, and trading, unlocking opportunities for data-related industries. Ucloud will rely on its years of accumulation in data security circulation, development, and utilization, and work with partners in the data industry ecosystem to stimulate data value and accelerate digital transformation.   Efficient circulation is essential, as well as ensuring safety   Dr. Wang Xin, Global Partner at Frost & Sullivan and President of the Greater China Region, stated that the domestic data trading industry is still in its early stages of development, with imperfect industry norms. Data trading may face challenges such as unclear ownership definitions and inadequate security protection. The establishment of the Shanghai Data Exchange plays an important role in standardizing data trading while strengthening supervision and enhancing data security, aiming to eliminate industry pain points and promote sustainable industry development. "There are certain differences between data trading and securities trading. Data itself is replicable and has different values for different users and use cases," said Jiang Xiangyu, a partner at Collaborative Law Firm. In order to regulate trading behavior and form a healthy and orderly market, data products need to undergo compliance assessments before entering the market. This specifically includes the basic information of the data trading entity, especially whether there are any illegal or irregular cases in the data field, the legality of the data source, whether it contains data that is prohibited from trading or not suitable for trading at present, data usage conditions and constraints (such as use scenarios, qualification requirements for data users, usage restrictions, whether resale is allowed, etc.), and the enterprise's risk control capabilities and measures for data circulation.   On the 25th, the Shanghai Arbitration Commission and the Shanghai International Economic and Trade Arbitration Commission established data arbitration centers in Pudong respectively, providing better institutional guarantees for the safe and orderly flow of data transactions.   It is reported that while constructing the 'exchange + base + enterprise agglomeration' digital industry ecosystem model, Pudong New Area will also build a data element industrial agglomeration area to comprehensively promote the prosperous development of the data element market and ensure the safe and orderly flow and trading of data.   This also means that Shanghai will provide answers to the global urban 'must-answer question' of data circulation and trading through more innovation. (Reporters: Pan Qing, Gong Wen, Sun Qing)   Frost & Sullivan Insight & Extended Readings   On November 25th, the Shanghai Data Exchange was officially established. In this regard, Dr. Wang Xin, Global Partner at Frost & Sullivan and President of Greater China, stated:   The Shanghai Data Exchange will be open to the global community, conducting comprehensive big data transactions. It will provide a venue and facilities for centralized data trading and organize and supervise data transactions. This will contribute to the construction of the Shanghai data element market, improve the multi-level data trading and circulation mechanism, form a good data trading ecosystem, and further strengthen Shanghai's leading position in the field of national data circulation and trading.   Currently, the domestic third-party data trading industry is still in its early stages of development. Industry norms are not yet complete, and issues such as unclear data ownership, inadequate data security protection, insufficient standardization of data transactions, and difficulty in eliminating gray markets have become major obstacles to industry growth. We believe that the establishment of the Shanghai Data Exchange will explore the creation of a new type of comprehensive big data trading mechanism with innovative classification and stratification. It will accelerate the advancement of data openness and sharing, as well as the establishment and improvement of data management mechanisms. While realizing standardized data transactions, it will strengthen transaction supervision and enhance data security. This plays an important role in eliminating industry pain points, exploring the establishment of a national-level data trading center, and promoting the rapid, healthy, and sustainable development of the industry.   We believe that the establishment of the Shanghai Data Exchange will contribute to the innovation of new big data trading mechanisms, accelerate data integration and sharing, and promote fair, orderly, secure, controllable, and fully traceable data transactions. At the same time, this helps Shanghai build a high-quality public data openness brand, comprehensively construct the city's digital foundation, activate material flow, technology flow, and capital flow through data streams, create high-level industrial chains, supply chains, and value chains, continuously improve the city's data capability level, build a high-level and convenient data circulation system, enhance the global allocation capacity of data elements, and achieve the goal of becoming an 'International Digital Capital'.   *This article is reprinted from Xinhua News Agency, with reporters Pan Qing, Gong Wen, and Sun Qing. The original article was titled 'The Shanghai Data Exchange Debuts “Data Merchants” New Business Model: Do You Have “Data”?'

Frost & Sullivan 60 th Anniversary On November 25th, the world-renowned growth consulting firm Frost & Sullivan (hereinafter referred to as 'Frost & Sullivan') held its 60th anniversary celebration in Shanghai, China. On this grand occasion, Mr. David Frigstad, Chairman of Frost & Sullivan's Global Board of Directors, Mr. Aroop Zutshi, President of Frost & Sullivan globally, and Dr. Wang Xin, Partner of Frost & Sullivan and President of Greater China, delivered speeches respectively.   Mr. David Frigstad stated that it is more difficult to grow a company for 60 years than to establish over one million startups. He expressed gratitude to Frost & Sullivan's clients, partners, employees in China, and their collaboration with Frost & Sullivan that has led to today's success. At the same time, he acknowledged Dr. Wang Xin's dedication, which provided Frost & Sullivan with an outstanding customer relationship platform and jointly promoted the development of the firm.   Mr. Fudawa shared with the attendees the purpose of Frost & Sullivan's establishment 60 years ago: "Sixty years ago, our company was founded with the mission to identify growth opportunities before they were popularized by the media or discovered by the investment community. Today, this tradition continues as we leverage new tools such as AI, Big Data, and Natural Language Processing to identify growth opportunities before they even become marketed. These growth pipelines maximize the future growth potential of our clients, and that is what all about."   Taking this opportunity, Mr. Fu Dawei expressed his respect for the tremendous transformation taking place in the Chinese economy, as well as for all the Chinese people who have participated in this massive transformation of the Chinese economy. 'Now, the huge role and important role that Chinese companies are playing around the globe to make the world a better place. And what the future will bring in terms of making the world the better place, with better technologies, business models, companies, logistics systems, I am grateful to you all.'   Finally, Mr. Fuda said, 'What excites me the most is that we are looking at all growth opportunities stemming from megatrends, new business models, and disruptive technologies in the compression of the customer value chain. These new business models, these new opportunities are shaping a better economy, making the world a better place, and improving our environment and the economic equality that so many people around the globe face. We are all involved in this together, and I am very excited to be part of it with you.'   Mr. Aroop Zutshi first expressed his gratitude to Dr. Wang Xin and all the staff of Frost & Sullivan, then reviewed the company's 60-year journey. He stated that the world is experiencing subversion, collapse, and transformation, with rules evolving rapidly and new business models replacing traditional ones. Mr. Aroop believes that this is not only a challenge but also brings many opportunities. Frost & Sullivan is leveraging these opportunities to plan for significant changes in order to expand its ability to reshape the world through growth. "China is leading the economic growth agenda across the globe. More and more Chinese companies are going global and offering sustainable solutions. We see the trend to become stronger in the coming years." Mr. Aroop said.   The corporate mission of Frost & Sullivan is to make the world a better place through growth. Mr. Zou Yaru mentioned that someone asked why growth was necessary. He replied: "Without growth, we not only stand still but move backward. Seeking development in uncertainty is not only the key to survival but also for thriving."   Mr. Zou Yaru mentioned the ONEFrost project of Frost & Sullivan in his speech, "Our internal commitment is to work together to create a single source of information, insights, and growth opportunities for our customers. We will converge our services into a common platform aligned with our Growth Pipeline as a Service, making it easier for you to map your progress and identify new growth opportunities. This new digital platform will allow for collaboration, sharing, and just-in-time delivery of information."   At the end of his speech, Mr. Zu Yaru once again expressed his gratitude to all customers and partners, and also looked forward to continuing to work with everyone for mutual success in the years to come.   Dr. Wang Xin expressed his gratitude to the country, to the era, and to his partners in his speech, and stated that Frost & Sullivan sincerely looks forward to continuing its long-standing relationship with everyone, walking hand in hand, cooperating for mutual success, and creating new glories.   The full text of Dr. Wang Xin's speech is as follows:   Distinguished leaders, ladies, gentlemen, and friends, good evening! Ladies and Gentlemen, my fellow colleagues and friends, good evening to all of you!   I would like to express my deepest gratitude to all of you for taking the precious time out of your busy schedules to attend the Frost & Sullivan 60th anniversary celebration during this special period. Words cannot express how much appreciation we can have for pulling this event off. Thank you very much for taking the time out of your busy schedule to join us to celebrate Frost & Sullivan's 60 th Anniversary during such a special period.   Today is Thanksgiving Day. On behalf of Frost & Sullivan, I would like to express my heartfelt gratitude! Today is Thanksgiving Day. On behalf of Frost & Sullivan China, I would like to express my deepest gratitude to all of you.   China's favorable opening-up policies and inclusive business environment have provided a huge stage and dynamic impetus for the development of Frost & Sullivan. Riding on the success of an open economy and an inclusive and comprehensive business environment, it has indeed provided Frost & Sullivan with a broad stage for better performance and vigorous momentum for development.   2021 is the Year of the Ox, as well as Frost & Sullivan's birth year. "In Chinese culture, the ox symbolizes diligence, dedication, progress, and strength." Frost & Sullivan belongs to the Year of the Ox and is unwavering in learning the spirit of the "Three Oxen," striving to become a down-to-earth "old ox," a sincere servant "child ox," and an enterprising innovator "pioneer ox." 2021 is the Chinese horoscopic year of Ox and also the Chinese zodiac year of Frost & Sullivan. In Chinese culture, the ox is the symbol of diligence, dedication, endeavour and power. Frost & Sullivan has been unswervingly following the spirituality of 'Three Oxes', going out in pursuit of an old cattle that is down-to-earth and always hands-on, a sincere serving willing ox, and an enterprising and innovative pioneering ox.   Since entering the Chinese market 23 years ago, we have continuously helped Chinese enterprises go global and contributed to enabling domestic and international investment institutions to understand and invest in Chinese companies. Today, China's stock and bond markets rank second globally in size, with over 4,400 A-share listed companies and more than 2,500 Hong Kong-listed companies, increasing its international influence day by day. Over the past 23 years, we have been persistently working to help Chinese enterprises shine in foreign markets and expose them to international capital markets. We have also acted as an intermediary to bridge the gap between foreign and local buy-side and sell-side investors. Today, when we look at the China-listed equity and bond markets, they are both ranked the second largest in terms of market capitalization globally to date, with over 4,400 listed companies on mainland China's A-share market and over 2,500 companies listed on the Stock Exchange of Hong Kong, having a significant yet nationwide impact.   The great era has endowed us with responsibilities, motivation, and a direction for progress. We sincerely thank you and wish China's development to be as vigorous as a charging bull, and the capital market to thrive like a soaring steed! The great times have chosen us to be part of a major event, endowing us with responsibilities, momentum and direction for progress. We are sincerely grateful and wish the development of China and capital markets BULLISH!   Haruki Murakami said: 'You (should) remember those who held an umbrella for you in the heavy rain, those who shielded you from external objects, those who held you close in the darkness, and always those who put you first.' I remember that the world-renowned writer Haruki Murakami once said, "You must be grateful and remember those who have extended their warm hands at moments when you are suffering in difficulty and feeling helpless in dark times."   On this special day, I want to express my gratitude for the sincere help of leaders, mentors, and partners; for our customers who have stood by us through thick and thin, never leaving us; and for the team's unwavering unity, determination to forge ahead, and dedicated spirit. I would like to take this opportunity to express my deepest gratitude to all my friends and business partners for their sincere help; to our dearest clients for their full support, standing firm with us through storms and stresses, and never abandoning us; to our Frostie team, for coming together as one team, working extremely hard, forging ahead with full steam, and making great achievements and contributions with solidarity and dedication.   I have always believed that choosing with whom to collaborate and associate is a choice about who you want to become. In many cases, choice is more important than effort; if you walk the right path, even the farthest distance will be shortened. I am firmly convinced that the moment you choose with whom you would like to team up and with whom you would like to work, it is the moment when you decide who you want to be.   It is a blessing to be able to walk alongside everyone. "An individual can travel fast, but a group travels far." Frost & Sullivan's birthday wish for its 60th anniversary is with you: to continue our past partnership and achieve win-win results! It is fate that has brought us together. If you want to go fast, go alone; if you want to go far, you go together. In the name of the 60th anniversary of Frost & Sullivan, our wish is that we will all continue to be "Together for a Shared Bright Future!"   Sixty years, a lifetime. In the blink of an eye. In the blink of an eye, 60 years to date.   In 1961, Frost & Sullivan was founded in New York, dedicated to making the world a better place through growth. Frost & Sullivan was founded in New York in 1961, advocating 'growth' as a core corporate value proposition to make the world a better place.   For 60 years, the people at Frost & Sullivan have kept their 'original aspiration and mission' in mind, promoted 'self-revolution', empowered themselves with knowledge, and created social value. For the past 60 years, we have never forgotten our mission to 'self-grow' and 'client-grow'. It is our pleasure to help empower the community to create more value by leveraging what we have learned from our business leaders, our market experts, and our clients.   I sincerely look forward to continuing to work hand in hand with everyone in the next Jiazi decade towards common prosperity; not wasting our prime years, and creating new glories once more! My most sincere expectation is that in the next sixty years, we will continue to unite as always, sprinting for common prosperity, living up to our youth, and creating brilliant success and memories once again!   Thank you all! Once again, thank you for the pleasure and privilege of working with you all!

On the evening of November 25, 2021, Frost & Sullivan, a global growth consulting firm founded in 1961, successfully held its 60th anniversary celebration and thanksgiving dinner themed "Gathered Sand Builds an Island - Pursuing Dreams in Splendor" at the Shanghai Suning Bao Li Jia Hotel. The event site was packed with distinguished guests, including representatives from the government, academic associations, capital institutions, industry leaders, mainstream media, and higher education institutions, as well as employee representatives of Frost & Sullivan. Mr. David Frigstad, Chairman of Frost & Sullivan's Global Board of Directors, Mr. Aroop Zutshi, President of Frost & Sullivan's Global Operations, Ms. Zhao Yan, Chairman of Huaxi Biotechnology, Mr. Yang Guoping, Chairman of Shanghai Volkswagen Public Utilities Group, and Dr. Wang Xin, Partner of Frost & Sullivan's Global Practice and President of Greater China, delivered speeches at the event respectively.     The appointment ceremony for the Frost & Sullivan Growth Strategy Expert Committee was held at the celebration site. It is reported that the professionals appointed as members of the Frost & Sullivan Growth Strategy Expert Committee include more than 20 industry leaders and experts, including Mr. Yang Guoping, Chairman of Shanghai Volkswagen Public Utilities Group; Dr. Hu Jiguang, Managing Director of UBS Securities and Head of China's Investment Banking Department; Mr. Bi Shunjie, Partner in Charge of Ernst & Young Greater China Business; Ms. Wang Jie, Chairman of Guokong Chuangfu; Ms. Yu Xin, General Manager of New Fortune Group; Mr. Cheng Jie, Managing Director of CITIC Securities and Global Head of Healthcare at Global Investment Banking; Mr. Huang Yong, President of the Procter & Gamble Alumni Association and Founding Partner of the Porsche Innovation Consumer Fund; Mr. Fan Yin, Executive Vice President and Managing Director of Jindu Industrial Investment Fund Management Co., Ltd.; Mr. Xu Lei, Partner and Committee Member of Nanfeng Capital Co., Ltd.; Ms. Luo Xiaoqin, Deputy Director of the Organizing Committee for the Boao Forum on Global Health; Mr. Zhao Xiaoguang, Vice President of Tianfeng Securities and Director of the Tianfeng Securities Research Institute; Ms. Hong Yingli, Founder and Vice President of the Amrita Art Foundation; Dr. Shen Lifeng, External Director of Shenzhen Special Economic Zone Construction and Development Group and Deputy Secretary-General of the Hong Kong International Investment Council; Mr. Tang Zhenyi, Vice President of SenseTime Technology; Mr. Zhang Landing, CEO of Silya Investment; Mr. Liu Zhi, Founder of Dulongyi Catering Group; Mr. Wang Guangji, Academician of the Chinese Academy of Engineering; Mr. Liu Shaoqiang, Managing Director of Dzeng Capital; Professor Wang Yu from the Vanke School of Management at Tsinghua University and Expert Advisor to the Boao Forum on Global Health; Ms. Zhao Yan, Chairman of Huaxi Biology; Ms. Zhao Xinhong, Executive Partner of the China Management Committee of King & Wood LLP; Mr. Meng Yi, General Manager and Vice President of HSBC Global Banking in China.   Insight into global technology trends and foresight into the future development of China It is worth mentioning that Frost & Sullivan launched a series of heavyweight research findings at the event, including 'The 60 Technologies Driving Global Growth', 'Global Technology and Application Trends Outlook', released globally by Frost & Sullivan, as well as the 'White Paper on Insights into China's Industrial Trends for the Next 50 Years', jointly released by Frost & Sullivan in China with LeadLeo Research Institute.   Latest: "The 60 Technologies Driving Global Growth" Mr. Wang Chenhui, Partner-in-Chief and Managing Director of Frost & Sullivan Greater China, and Mr. Yang Xiaocheng, Partner-in-Chief and Managing Director of Frost & Sullivan Greater China, jointly released the 'Top 60 Technologies Driving Global Growth' on behalf of the firm.   It is reported that since 1962, Frost & Sullivan has been at the forefront of identifying, analyzing, and monitoring emerging technologies and markets. Subsequently, they have been tracking and understanding the world-changing top 50 technologies every year to drive sustainable growth for their enterprise clients. This year, Frost & Sullivan has particularly launched a map of "The 60 Global Leading Technologies," which covers core insights into the world's leading technologies in nine sectors: environment and sustainability, energy and public utilities, chemistry and new materials, information and communication technology, high-end manufacturing and automation, sensors and instrumentation, health, medical devices and impact, and microelectronics. The report aims to analyze overall industry trends, technical analysis and prospects in sub-sectors, and focus on market dynamics of advanced technologies within the rapidly developing technological environment.   Latest: "Global Technology and Application Trends: Prospects and Outlook" Mr. Lu Jing, Partner and Managing Director of Frost & Sullivan Greater China, and Mr. Jia Pang, Partner and Managing Director of Frost & Sullivan Greater China, jointly released the 'Global Technology and Application Trends Outlook'. The report conducts an in-depth research and interpretation on emerging technologies that promote work efficiency from 2020 to 2025, discussing trends in technology connectivity and integration, AI, automation and robotics, as well as cybersecurity trends. It provides strategic advice and predictions for each trend from 'macro to micro'.   The report concludes with an analysis and summary of industry application scenarios for each trend, leading to the following three major predictions: 1. AR will completely transform how people work in the past, and in the future, it will overlay virtual information onto the real world. The benefits include faster design and prototyping, more vivid dynamic demonstrations and marketing, as well as more convenient access to information; 2. Artificial intelligence will greatly accelerate the process of data analysis and improve the performance of robot software. These advancements will increase the level of automation in workplaces, allowing employees to spend more time engaging in activities that require more creativity and emotional skills; 3. As digital connectivity becomes a common communication method, network security represents the next important requirement for enterprises, and almost all businesses and workplaces must implement network security strategies.   Latest: "Insights into China's Industrial Trends for the Next 50 Years" 2021 is a milestone year, marking not only the centenary of the founding of the Communist Party of China and the completion of building a moderately prosperous society in all respects, but also the beginning of China's 14th Five-Year Plan. Against this backdrop of a new starting point and a new journey, amidst the critical historical period of a century-old transformation and the superposition of a century-long pandemic, facing an external economic and political environment that is complex and changeable, as well as the challenges of internal economic transformation and upgrading, how China will position itself at the new development stage, implement the new development concept, and construct a new development pattern has become an important factor driving changes in the global economic landscape and international relations.   "Among a hundred boats racing, the one that rows vigorously is the first," as an important witness and participant in the development of the global and Chinese economic landscape, Frost & Sullivan, in collaboration with LeadLeo Research Institute, jointly released the "White Paper on Industry Trends Insights for China's Next 50 Years." The report interprets the development trends and opportunities of five core industries in China over the next 50 years from an industry perspective. Starting from dimensions such as macro environment, current development status, industry pain points, supply and demand environment, and development trends, the report summarizes and analyzes the development opportunities and challenges of the five core industry sectors in China over the next 50 years through research and analysis of fields related to artificial intelligence, manufacturing, healthcare, mass consumption, and carbon neutrality in China. Focusing on hot industry issues, the report deeply analyzes China's value contributions in the fields of artificial intelligence, manufacturing, healthcare, mass consumption, and carbon neutrality in the future. Based on a review of the history of China's industry's intelligent upgrading and green transformation, it explores the development direction of China's core industries in the future. This white paper was jointly released by Ms. Ding Zhuowen, Managing Director of Frost & Sullivan Greater China, and Mr. Li Zheng, Dean of LeadLeo (Shenzhen) Research Institute, on the day of the celebration.   Deeply cultivating knowledge services to empower enterprises and steadily creating social value In 1998, Frost & Sullivan officially entered the Chinese market. This year marks the 60th anniversary of the global establishment of Frost & Sullivan and also the 23rd year of its service to the Chinese market. Dr. Wang Xin, when talking about the opportunity for Frost & Sullivan to enter China, recalled: 'In 1998, Frost & Sullivan officially entered China. At that time, China was in the midst of vigorous reform and opening up and was about to join the WTO. This was a once-in-a-lifetime historical opportunity. China was about to rapidly integrate into the global economy, and its economic development was about to enter a fast lane. Frost & Sullivan saw this once-in-a-lifetime good opportunity and chose to enter China at this time. The reason Frost & Sullivan is optimistic about China is that it has particularly strong comprehensive national strength.' China is at the forefront of various aspects such as sports, economy, innovation and technology, health, culture and education in the world. This has also brought great confidence, determination and courage to Frost & Sullivan to establish a long-term presence, take root in China and serve the Chinese market. " Regarding the next phase of development strategy for Frost & Sullivan China, Dr. Wang Xin stated, 'Over the past 23 years, the Frost & Sullivan Greater China region has leveraged its global linkage capabilities to help a large number of Chinese enterprises enter international capital markets and also to assist a large number of domestic and international investment and financing institutions in understanding and investing in Chinese enterprises. However, from an international comparison perspective, in 2020, China's service industry accounted for 54.5% of GDP, slightly lower than Russia (56.3%), while the United States had as high as 81.5%, with both the UK and France also exceeding 70%. In the long run, China's service industry has broad development potential, and its position in the economy will continue to rise in the future. The country advocates for the standardization and branding construction of the service industry, and Shanghai vigorously develops knowledge-intensive services. This represents an excellent historical opportunity for the Frost & Sullivan Greater China region.' We will base ourselves on China, provide long-term services, and delve into global capital markets and corporate consulting services. We offer a comprehensive range of investment and financing as well as various other professional consulting services for enterprises, including industry advisory, technology advisory, financial advisory, due diligence, strategic consulting, management consulting, planning consulting, evaluation services, valuation services, etc., empowering the economy, industries, sectors, and countries with our professional knowledge. "   When referring to a company's social responsibility, Dr. Wang Xin introduced: 'Since its establishment, Frost & Sullivan has always been focused on fulfilling our commitment to growth and giving back to society.' We hope that in the future, we can continue to provide comprehensive resource support to outstanding enterprises through the 'Pilot Program', accompanying them in their growth over the long term. We will also continue to pay attention to the learning and development of teenagers in remote areas, aiming to help more students from impoverished areas change their destiny with knowledge, create a better future, and jointly move towards a prosperous tomorrow. "   The 60th anniversary celebration has come to a successful conclusion, but the new journey of Frost & Sullivan has just begun. Taking this thanksgiving banquet as an opportunity, Frost & Sullivan expressed gratitude to all partners, customers, and employees, conveyed the intention to continue working together for mutual benefit, and looked forward to walking hand in hand in the future to create more brilliance!

Frost & Sullivan's 60th Anniversary On the evening of November 25, 2021, coinciding with Thanksgiving Day, Frost & Sullivan's sixtieth anniversary celebration and thanksgiving dinner was grandly held at the Shanghai Suning Bao Li Jia Hotel.   The event site was packed with distinguished guests. Representatives from various sectors including the government, academic associations, capital institutions, industry leaders, mainstream media, and higher education institutions celebrated the anniversary with Frost & Sullivan staff representatives, jointly witnessing this historic moment. As night fell by the banks of the Huangpu River, accompanied by the first drumbeat, Dr. Wang Xin, Global Partner and President of Frost & Sullivan Greater China, and Mr. Wang Chenhui, Managing Partner and Managing Director of Frost & Sullivan Greater China, stepped onto stage together to add the finishing touch to the auspicious lion dance. When cinnabar fell upon the lion's ambitious eyes, its vitality blossomed here, and the lion "awoke up." Together with the three lucky oxen representing the "Three Ox Spirits" (i.e., the down-to-earth "Old Yellow Ox," the sincere service-oriented "Child Ox," and the enterprising and innovative "Pioneer Ox"), they crossed mountains and rivers, headed towards the stars in the universe, presenting a magnificent, heart-stirring, and passionate lion and ox dance performance for the guests present, and sending their most sincere best wishes. From its birth in New York in 1961, to having offices spread across Europe in the 1970s, to becoming a global leader in industry database publishing with Frost & Sullivan in the 1980s, and finally entering the Chinese market in 1998, the sixty years of journey of Frost & Sullivan have been condensed into a brand film that deeply interprets "growth" and is presented to the audience here for the first time. This is also the first offline exhibition of this film. Subsequently, Mr. David Frigstad, Chairman of Frost & Sullivan's Global Board of Directors, Mr. Aroop Zutshi, President of Frost & Sullivan's Global Operations, Ms. Zhao Yan, Chairman of Huaxi Biotech, Mr. Yang Guoping, Chairman of Shanghai Volkswagen Public Utilities Group, and Dr. Wang Xin, Partner of Frost & Sullivan and President of Greater China, delivered speeches at the event respectively.   Mr. David Frigstad, Chairman of Frost & Sullivan's Global Board of Directors, expressed his gratitude to all Chinese clients, partners and Frost & Sullivan employees through video, and conveyed his respect for the tremendous transformation taking place in the Chinese economy, as well as his admiration for all those who have participated in this transformation. Mr. Fu Dawei stated that Chinese enterprises play a very important role globally, making the world a better place. In the future, the world will also possess better technology, business models, and enterprises because of the Chinese people. At the end of his speech, Mr. Fu Dawei once again shared his vision for the future with everyone, expressing his confidence and anticipation for the future of Frost & Sullivan. Mr. Fugawa, Chairman of the Global Board of Directors at Frost & Sullivan, delivered a speech.   Mr. Aroop Zutshi, President of Frost & Sullivan Global, also extended greetings to the attendees via video. Mr. Zutshi reviewed the 60-year development journey of Frost & Sullivan, stating that the world is experiencing subversion, collapse, and transformation. The rules are evolving rapidly, and new business models are replacing traditional ones. He believes this is not only a challenge but also brings many opportunities. Frost & Sullivan is leveraging these opportunities to plan for significant changes in its strategy to expand its ability to reshape the world through growth. Mr. Zou Yahou also reiterated the corporate mission of Frost & Sullivan—making the world a better place through growth—and fully expressed his expectations for the future development prospects of Frost & Sullivan over the next 60 years. Mr. Zou Yaru, President of Frost & Sullivan Global, delivered a speech.   As one of the VIP representatives at this celebration, Ms. Zhao Yan, Chairman of Huaxi Biotechnology Co., Ltd., sent her 60th anniversary blessings via video. She stated that Frost & Sullivan and Huaxi Biotechnology have been working closely together in recent years and are strategic partners growing together. She affirmed that Frost & Sullivan has provided professional and valuable services on the journey of Huaxi Biosciences becoming a benchmark leading enterprise in the industry, playing a significant role in empowering the company. She sincerely wishes Frost & Sullivan continued excellence and greater influence in the Chinese market. Meanwhile, Ms. Zhao Yan, on behalf of Huaxi Biology, expressed her expectation to continue working with Frost & Sullivan to explore more potential for sustainable growth in cooperation. Speech by Ms. Zhao Yan, Chairman of Huaxi Biology   Another distinguished guest representative, Mr. Yang Guoping, Chairman of Shanghai Volkswagen Public Utilities Group, extended his blessings to Frost & Sullivan on its 60th anniversary. Mr. Yang summarized the corporate characteristics of Frost & Sullivan into three words: 'Broad, Professional, and Practical'. He pointed out that 'broad' means both a wide geographical scope and a broad range of business areas; 'professional' refers to professional services and a dedicated attitude; 'practical' signifies the achievements and effectiveness of Frost & Sullivan, which truly empower enterprises and enhance their value. Mr. Yang Guoping stated that Frost & Sullivan's global perspective, professional capabilities, and pragmatic spirit provide an escalator for enterprises, enabling them to stand higher, see further, and enhance their value and creativity. Speech by Mr. Yang Guoping, Chairman of Shanghai Volkswagen Public Utilities Group   Subsequently, Dr. Xin Wang, Global Partner at Frost & Sullivan and President of the Greater China Region, took to the stage to deliver a speech. Dr. Xin Wang first expressed his gratitude to the country, to the times, and to his partners. He said: "Thank you to the country for its favorable opening-up policies and inclusive business environment, which have provided a huge stage and impetus for the development of Frost & Sullivan. Thank you to the times; since entering China 23 years ago, Frost & Sullivan has continuously helped Chinese enterprises go global and has assisted domestic and international investment and financing institutions in understanding and investing in Chinese companies." He pointed out that today, China's stock and bond markets rank second globally in size, with more than 4,400 listed companies and over 2,500 listed on the Hong Kong Stock Exchange. Its international influence is growing day by day. It is an extraordinary era that has endowed Frost & Sullivan with responsibility, motivation and direction for progress.   Dr. Wang Xin emphasized: "We are grateful for the sincere help of our leaders, mentors and partners; we are grateful to our customers who have stood by us through thick and thin with Frost & Sullivan; and we are grateful for the team's unity, dedication and hard work."   In addition, he said that over the past 60 years, Frost & Sullivan people have kept their 'original aspiration and mission' in mind, promoted 'self-revolution', empowered themselves with knowledge, and created social value. For the next 60 years, Frost & Sullivan also looks forward to continuing to work hand in hand with everyone to achieve win-win cooperation and create new glories! Dr. Wang Xin, Global Partner and President of Frost & Sullivan Greater China, delivered a speech.   After the speech, under the joint witness of Mr. Wang Chenhui, Partner and Managing Director of Frost & Sullivan Greater China, Mr. Lu Jing, Partner and Managing Director of Frost & Sullivan Greater China, Mr. Yang Xiaocheng, Mr. Mao Hua, Mr. Jia Pang, Ms. Wang Xiaojing and other representatives from Frost & Sullivan, Dr. Wang Xin, together with Mr. Yang Guoping, Chairman of Shanghai Volkswagen Public Utilities Group, Dr. Hu Jiguang, Managing Director of UBS Securities and Head of the China Investment Banking Department, Mr. Bi Shunjie, Partner in Charge of Business in Greater China at EY, Ms. Wang Jie, Chairman of Guokong Chuangfu, Ms. Yu Xin, General Manager of New Fortune Group, Mr. Cheng Jie, Managing Director of CITIC Securities and Head of Global Healthcare at Global Investment Banking, Mr. Zhao Xiaoguang, Vice President of Tianfeng Securities and Director of Research Institute, Ms. Luo Xiaoqin, Deputy Director of Organizing Committee for the Global Health Forum of Boao Forum for Asia, Ms. Hong Yingli, Founder and Vice Chairperson of the Amy Art Foundation, Mr. Fan Yin, Executive Vice President and Managing Director of Jinpu Industrial Investment Fund Management Co., Ltd., Dr. Shen Lifeng, External Director of Shenzhen Special Economic Zone Construction and Development Group and Deputy Secretary-General of the Hong Kong International Investment Council, Mr. Zhang Landing, CEO of Silicon Alpha Investment, Mr. Huang Yong, President of the Procter & Gamble Alumni Association and Founding Partner of the Porsche Innovation Consumer Fund, and Ms. Qiu Zhe, Vice President of Red Star Macallan, jointly lit up the launching ceremony device and announced the official start of the Frost & Sullivan 60th Anniversary Celebration Dinner. In addition, the appointment ceremony for the Frost & Sullivan Growth Strategy Expert Committee was also held during today's celebration activities. Dr. Wang Xin, Global Partner and President of Greater China at Frost & Sullivan, and Mr. Wang Chenhui, Managing Partner and Managing Director at Frost & Sullivan, presented appointment certificates to the committee members from various sectors. List of members of the Frost & Sullivan Growth Strategy Committee Mr. Yang Guoping, Chairman & CEO of Shanghai Volkswagen Public Utilities Group Dr. Hu Jiguang, Managing Director of BofA Securities and Head of China's Investment Banking Department EY Greater China Business Partner & Co-Head of EMEA - Mr. Bi Shunjie Chairman & MD of Guokong Chuangfu - Ms. Wang Jie General Manager of New Fortune Group - Ms. Yu Xin Mr. Cheng Jie, Managing Director of CITIC Securities and Head of Global Healthcare at the Global Investment Banking Group Mr. Huang Yong, President of Procter & Gamble Alumni Association and Founding Partner of Porsche's Innovation Consumer Fund Mr. Xu Lei, Partner and Member of the Investment Committee at Southwind Capital Ms. Luo Xiaoqin, Deputy Director of the Organizing Committee of the Boao Forum for Asia Global Health Mr. Zhao Xiaoguang, Vice President and Director of Research at Tianfeng Securities Mr. Fan Yin, Executive Vice President and Managing Director of Jinpu Industrial Investment Fund Management Co., Ltd. Ms. Hong Yingli, Founder and Vice President of the Amita Art Foundation Dr. Shen Lifeng, External Director of Shenzhen Special Economic Zone Construction and Development Group, Deputy Secretary-General of the Hong Kong International Investment Council Mr. Tang Zhenyi, Vice President of Shangtang Technology Mr. Zhang Landing, CEO & MD of Sily Asia Investment Founder —— Mr. Liu Zhi of Dalongyi Catering Group Academician of the Chinese Academy of Engineering - Mr. Wang Guangji Mr. Liu Shaoqiang, Managing Director & Co-Founder of Dazheng Capital Professor Wang Yu, Expert Advisor to the Global Health Forum of the Boao Forum for Asia and from the Vanke School of Management at Tsinghua University Chairman & MD of Huaxi Biology - Ms. Zhao Yan Ms. Zhao Xiaohong, Executive Partner & Managing Director of the China Management Committee at King & Wood LLP Mr. Meng Yi, Head of Global Banking China at HSBC and Vice Chairman At the celebration, witnessed by Mr. Wang Chenhui, Partner-in-Chief and Managing Director of Frost & Sullivan Greater China, and Mr. Yang Xiaocheng, Partner-in-Chief and Managing Director of Frost & Sullivan Greater China, Dr. Wang Xin, Global Partner and President of Frost & Sullivan Greater China, and Ms. Yu Xin, General Manager of New Fortune Group, signed cooperation agreements on behalf of LeadLeo Research Institute and New Fortune respectively. Both parties will sincerely join hands to contribute to the healthy and sustainable development of the Chinese market.   Also witnessed by Mr. Wang Chenhui and Mr. Yang Xiaocheng, Dr. Wang Xin then signed a cooperation agreement between the LeadLeo Research Institute and Mr. Zhao Xiaoguang, Vice President of Tianfeng Securities and Director of the Tianfeng Securities Research Institute, on behalf of LeadLeo. This comprehensive collaboration between two top research forces will complement each other's strengths, creating the strongest team in the field of in-depth domestic research. It aims to output more high-quality in-depth research products to the capital market, industry sector, regulatory authorities, and even the entire national economy and society, while realizing the value of in-depth research and empowering industrial development and economic takeoff.   Immediately afterwards, Mr. Yang Xiaocheng, Partner and Managing Director of Frost & Sullivan Greater China, and Mr. Yin Hui, President of the Alumni Association of Renmin University of China, signed strategic cooperation agreements on behalf of LeadLeo Research Institute and the Alumni Association of Renmin University of China respectively. The two parties will carry out in-depth cooperation to jointly build a Renmin University LeadLeo industry research platform and serve Renmin University and its alumni enterprises together. LeadLeo Research Institute signs a partnership with New Fortune LeadLeo Research Institute signs a partnership with Tianfeng Securities Research Institute LeadLeo Research Institute signs agreement with the Alumni Association of Renmin University of China   During the cultural performance segment, professional performers presented a splendid cultural audio-visual feast to the guests present.   The Western-style ballet 'Frost & Sullivan', interwoven with grace and strength, portrays water as the source of life. Dancers dancing with water symbolize Frost & Sullivan's win-win cooperation with clients and teams, working together to achieve collective success. The jazz dance performance 'Haitian Opera at Broadway', with its dazzling lights, colorful costumes, and enthusiastic, lively dancing, spreads joy. The traditional Chinese dance performance 'Tang Palace Night Banquet' features museum-revived Tang Dynasty ladies weaving through the ages of civilization, evoking a sense that nothing in the world is truly 'new' unless it is broken. Following it, the Fire Dance Illusion took the guests into a fantastical world of light and fire, with passionate flames symbolizing life and hope. The entire 60th anniversary celebration concluded amidst the melodious and graceful strings of music such as "Blue Danube," "Me and My Motherland," "Jasmine Flower," "Love in the Deep Autumn," "Flowers in Bloom and the Moon Full," and "See You Again."   For sixty years, through wind and rain, Frost & Sullivan has seen its work blossom in spring and bear fruit in autumn. Over these sixty years, Frost & Sullivan has closely followed the pace of global development, always adhering to the sustainable development philosophy of "innovation for change," striving for perfection, pursuing excellence, continuously delving into and deciphering the "codes" of industry development, and helping enterprises explore new possibilities for growth. The people at Frost & Sullivan have become self-reliant and progressive in development, excelling in competition, fulfilling all their visions with down-to-earth efforts, and practicing future ideals with collective strength.   For sixty years, the vigorous development of Frost & Sullivan has been inseparable from the recognition, support and assistance of all clients and partners, as well as the hard work and dedicated efforts of all employees. Frost & Sullivan sincerely looks forward to continuing its long-standing relationship with everyone and hopes to join hands with more friends to jointly move towards a brighter future. Sixty years is a leap in history, but also a brand-new beginning. In the next Jiazi year, Frost & Sullivan will remain true to its original aspiration, keep its focus on the mission of growth, create value through growth, and give back to society with responsibility!

Frost & Sullivan Insights China has established an "ambitious" carbon peak and neutrality goal, clarifying the need for deep adjustment of industrial structures and accelerating the construction of a clean, low-carbon, safe, and efficient energy system. Focusing on the opportunities presented by the "ambitious" goals, foreign companies in China are actively deploying efforts to transform their energy systems by focusing on management and technological energy conservation. China's ambitious carbon reduction strategy has completed its top-level design. As business owners, how should they understand China's carbon policy system? What opportunities can be unlocked for foreign companies in China through the process of achieving the carbon peak targets? What are the biggest difficulties and challenges currently facing China in achieving its carbon peak targets? Dr. Xin Wang, Global Partner at Frost & Sullivan and President of Greater China, was interviewed by Xinhua Finance to discuss the path of "energy transformation" for foreign companies in China under the carbon policy framework. Xinhua Finance November 19th, Shanghai (Reporter: Pan Qing) China has established an "ambitious" carbon peak and neutrality goal, clarifying the need for deep adjustment of industrial structures and accelerating the construction of a clean, low-carbon, safe, and efficient energy system. Focusing on the opportunities presented by the "ambitious" goals, foreign companies in China are actively deploying efforts to transform their energy systems by focusing on management and technological energy conservation.   As part of the top-level design of the "ambitious" strategy, the "Opinions on Comprehensively and Accurately Implementing the New Development Concept and Doing a Good Job in Carbon Peaking and Carbon Neutrality" released in October proposed carbon reduction paths and key tasks.   Dr. Xin Wang, Global Partner at Frost & Sullivan and President of Greater China, stated that from a specific quantitative perspective, energy transformation is the main path to achieving the "ambitious" carbon reduction goals. In areas such as structural, management, and technological energy conservation, there is tremendous potential for cooperation between multinational companies and Chinese enterprises. Including the application of comprehensive contract energy management solutions, foreign companies in China have started early on emphasizing the use of management energy conservation to control their own and project carbon emissions levels. In terms of providing management energy conservation solutions and services to help Chinese enterprises reduce carbon emissions, foreign companies in China already have some successful practice cases.   In 2021, Guoshen Company of the State Energy Group proposed an "integrated two wings" development strategy, namely "optimizing coal-fired power integration, specializing in circulating fluidized beds, and refining new energy," and has made digitalization an important empowerment approach.   Relying on the Pl System data infrastructure provided by AVEVA, a well-known global industrial software company, Guoshen Company has implemented a series of digital application scenarios suitable for coal-fired power integrated operation enterprises, including coal integrated monitoring, local turbine monitoring, flue gas system monitoring, steam-water system monitoring, coal mine safety monitoring and control, real-time environmental protection data monitoring, desulfurization and denitrification diagnosis, etc. Among them, the visual application of real-time environmental protection data monitoring has helped 31 out of 32 units of Guoshen Company complete ultra-low emission renovations.   Dr. Zhiming Huang, Vice President of Pacific and Greater China Channels at AVEVA, stated that digital technology plays a crucial role in energy conservation and emission reduction, reducing carbon footprints. Visualization, digital twins, machine learning, and artificial intelligence are all key digital technologies that help enterprises achieve carbon reduction goals. In industries such as energy and chemical engineering, power, shipbuilding, and railways, AVEVA has helped many global enterprises upgrade their technology by optimizing production processes, improving operational efficiency, and reducing operational risks through software applications. AVEVA will also assist Chinese industrial customers in reducing carbon emissions, promoting the sustainable development of projects and operations, and maximizing emission reduction benefits.   Under the "ambitious" carbon reduction strategy, technological energy conservation is also seen as an important opportunity for foreign companies in China.   Zhu Yaming, Co-Head of Energy Resources at EY Global Greater China, believes that achieving carbon peak and even carbon neutrality targets must start with a transformation of the energy structure. Under the background of the "ambitious" goals, the transformation path of China's energy industry should be reflected in technical assistance represented by clean substitution, electric power substitution, energy interconnection, energy efficiency improvement, and carbon reduction technologies.   Dr. Xin Wang, Global Partner at Frost & Sullivan and President of Greater China, gave an example analysis: Relying on a huge market and proactive government support, China has cultivated a large number of new energy vehicle enterprises with outstanding technical strength in recent years. Against the backdrop of the global trend towards developing new energy vehicles, strengthening cooperation with Chinese enterprises, including joint ventures to produce related raw materials and battery equipment, will become an inevitable choice for relevant foreign companies in China. In areas where new energy vehicles and fuel vehicles are relatively common, such as chips and control equipment, Chinese enterprises need technical support from foreign-funded enterprises in the traditional automotive supporting field. As a provider of next-generation mobility system products in automotive and industrial technology fields, CEP AppTec has been entering the Chinese market for 40 years. Currently, one-fourth of the group's sales come from the Asia-Pacific region, with China as the main body.   Dr. Haozhe Ke, Director of CEP AppTec Group, stated that electric drive, which can effectively reduce carbon emissions, is one of the core technical pillars of CEP AppTec. In China, CEP AppTec will provide fully localized electrified powertrain systems for complete vehicle manufacturers and has already established a complete R&D team and obtained sufficient orders. Two large electric drive factories located in Hangzhou and Shenyang will be put into use in 2022 and 2023 respectively. The 800V electric drive axles designed and manufactured by CEP AppTec for European and Chinese luxury brands will start mass production in China from the fourth quarter of 2023.   In the field of renewable resource power generation, CEP AppTec is also working with upstream and downstream partners to promote the popularization of green electricity. In 2021, the first batch of Vidar transmission systems produced by CEP (Tianjin) Wind Power Co., Ltd. have been successfully mass-produced.   “CEP AppTec is committed to supporting China's sustainable development goals of 'ambitious carbon reduction' by providing comprehensive technical solutions from software to hardware, and creating green, safe, comfortable, and affordable next-generation travel plans both in China and globally,” said Haozhe Ke.   A research report released by HSBC during the 4th CIIE showed that 76% of overseas companies believe that the green and low-carbon transformation has further enhanced the attractiveness of the Chinese market and are optimistic about the business opportunities brought about by the implementation of China's "ambitious" carbon reduction goals. More than half of the companies are planning to provide more environmentally friendly and sustainable products for the Chinese market, including green and low-carbon operations in business and energy conservation and emission reduction of production facilities.   Frost & Sullivan Insights · Extended Reading   Q: China's ambitious carbon reduction strategy has completed its top-level design. How do you understand China's carbon policy system? A: The "Opinions on Comprehensively and Accurately Implementing the New Development Concept and Doing a Good Job in Carbon Peaking and Carbon Neutrality" is the top-level design of China's ambitious carbon reduction strategy and also the "1" in China's "1+N" carbon peaking and neutrality policy system. The "Opinions" decompose the carbon peak targets into three time dimensions and propose ten carbon reduction paths and thirty-one key tasks. We believe that from specific quantitative targets and carbon reduction paths, it can be seen that energy transformation is the main path for China to achieve its carbon reduction goals, and the gradual substitution of non-fossil energy for fossil energy is an inevitable path in achieving the carbon peak goals. Therefore, we expect that the development of the new energy industry will be a key point for China to achieve its carbon reduction goals, giving rise to many emerging fields such as photovoltaic power generation, hydropower generation, and hydrogen energy generation.   The "N" in the "1+N" policy system for carbon peaking and neutrality refers to specific implementation plans for carbon peaking in different sectors and industries including energy, industry, transportation, urban and rural construction, etc. The "Plan" makes ten action guidelines and three support mechanisms for the ten carbon reduction paths proposed in the "Opinions." The ten actions cover several major industries such as energy, industry, transportation, construction, carbon trading, and carbon capture technology. It is not difficult to see from the carbon reduction paths and action plans that the ambitious carbon reduction strategy will involve changes ranging from national policy systems to people's daily lives: changing China's economic growth mode, changing the energy structure of industrial and transportation systems, including people's lifestyles. China is gradually reducing carbon emissions through two approaches: controlling carbon emissions and developing green and low-carbon technologies. On the basis of achieving the carbon reduction targets, it is also necessary to ensure the normal development of the economy.   The carbon peak goal is a long-term strategic goal that requires the joint efforts of the whole country. However, now we have decomposed the ultimate goals of carbon peaking by 2030 and carbon neutrality by 2060 into time, industry, and field aspects through the "1+N" policy system, pointed out the action paths, and formulated specific action plans, breaking down the long-term goals into specific and controllable phased goals. The "1+N" of the carbon policy system represents the relationship between macro and micro, roadmap and construction plan. The formation of the "1+N" policy system marks that China's carbon reduction actions have entered a substantive implementation stage.   Q: What opportunities do you think the process of China achieving its carbon peak goals can unlock for foreign companies in China? Including both management and technological energy conservation. A: Currently, relying on long-term development in new energy technologies such as new energy vehicles and photovoltaics, China has already stood at the first tier internationally. However, on the road to achieving the carbon peak goal, China still needs to further strengthen cooperation with foreign enterprises. Achieving the carbon peak goal is a long-term, complex, multi-link process, and it is not advisable to simply hope that a few single technologies can solve problems easily. It is necessary to solidly carry out each link, using various technical methods, including structural, management, and technological energy conservation, etc.   In terms of management energy conservation, leading foreign companies in the industrial automation sector, such as Siemens, ABB, and Bosch, have accumulated rich solutions and technologies in energy conservation management. Although China's energy conservation industry has currently undergone long-term development, there is still a significant gap compared to these foreign companies in terms of enterprise scale, industrial chain completeness, talent reserve, etc. Foreign companies in China have basically started early on emphasizing the use of management energy conservation to control their own and project carbon emissions levels. Most of these companies have a complete set of contract energy management solutions and have applied them well to their own projects. Under the grand goal of carbon neutrality, these management experiences will play a greater role. These foreign companies can provide relevant consulting services for Chinese enterprises.   In terms of technological energy conservation, we believe that foreign companies in China also have huge development opportunities. Taking the new energy vehicle industry as an example, relying on a huge market and proactive government support and encouragement, China has cultivated a large number of enterprises with outstanding technical strength. Similarly, foreign countries also need to vigorously develop the new energy vehicle industry in the future, strengthen cooperation with Chinese enterprises, combine the advantageous technologies and industries of both sides, which will become the focus in the next few years. For example, in the battery field, more and more foreign companies are building joint ventures with Chinese enterprises to produce related raw materials and battery equipment. Some relatively common equipment between new energy vehicles and fuel vehicles such as chips and control equipment also require technical support and cooperation from traditional automotive supporting enterprises such as Bosch. Mutual cooperation and win-win technology will become the mainstream of future development, and a large number of cooperative factories will bring specific investment and output.   Q: What do you think are the biggest difficulties and challenges for China to achieve its carbon peak goals? A: Currently, China consumes a relatively high amount of coal and oil. The timeframes for achieving the 2030 and 2060 carbon reduction targets are urgent, and the whole industry urgently needs to accelerate the implementation of decarbonization actions and accelerate the transformation of energy supply and consumption. How to reduce the impact on industries with high carbon emissions, ensure their continuous development vitality during the transformation process, and reduce their impact on economic growth are currently the main challenges and difficulties for China to achieve its carbon reduction goals.   [Challenges in Economic Development] Photovoltaics, wind power, energy storage, new energy vehicles, etc. are all current hot topics related to carbon reduction in the market. However, to achieve the carbon reduction goal, relying solely on these coverage areas is not enough. On the one hand, from the current situation, it is not realistic for China to completely abandon the traditional thermal power generation model within the carbon peak target time; on the other hand, some industries such as steel, non-ferrous metals, chemicals, and cement are typical industries that are difficult to reduce emissions. Currently, effective and economical emission reduction methods have not been completed. Unreasonable forced transformation will have a huge impact on industrial structure and economic development. This is the main difficulty for China to achieve its carbon reduction goals.   [Challenges in Emission Reduction Technologies] To solve the above difficulties, there is an urgent need for innovation in emission reduction technologies, especially CCUS technology (Carbon Capture, Utilization, Storage technology). However, China's CCUS technology level is still relatively backward, and its development and application are unbalanced. At the same time, the cost is also huge, and it is currently only in the demonstration project stage with a small scale. Under the condition of ensuring the achievement of carbon reduction goals without affecting the healthy and orderly development of the economy, CCUS is one of the necessary means. A report from the shows that by 2060, 1 to 1.8 billion tons of carbon dioxide emissions need to be reduced using CCUS to achieve a healthy carbon neutrality goal. Therefore, how to quickly and stably promote the research, development, and application of CCUS technology, improve the policy support and standard specification system for CCUS, and achieve large-scale development of CCUS is another difficult problem accompanying China's achievement of carbon reduction goals.   *This article is reprinted from "Xinhua Finance," with Reporter Pan Qing, and the original title is "Foreign Companies in China Are Actively Deploying Efforts to Transform Their Energy Systems in China."

2021 Cell Biology Industry (Shanghai) Conference   In recent years, the global pharmaceutical industry has developed strongly, especially in the post-pandemic era, with the strategic development of biopharmaceuticals as a national priority. As a key area of biopharmaceuticals, the cell industry has brought hope for the cure of various refractory diseases.   To further integrate high-quality cell biology industry resources across the country and promote exchanges, docking, and cooperative development within the cell biology industry, the "2021 Cell Biology Industry (Shanghai) Conference" was held in Shanghai from November 16th to 17th. Mao Hua, Partner and Managing Director of Frost & Sullivan's Greater China region, was invited to attend the conference and released the latest research findings from Frost & Sullivan— the "White Paper on the Development of China's Cell Therapy Industry."   In the third quarter of 2021, Frost & Sullivan conducted an analysis of the competitive landscape and driving forces for the development of China's cell therapy industry, reflecting past and future years' global and Chinese pharmaceutical R&D investment, cell therapy application areas, and industry development trends. Frost & Sullivan hereby releases the "White Paper on the Development of China's Cell Therapy Industry." This white paper aims to analyze the current status, characteristics, treatment areas, drivers, and development trends of China's cell therapy (Cell Therapy) industry, focusing on the market competition situation within the industry.   White Paper Abstract   Since 2003, China has continuously introduced relevant policies and regulations for cell therapy, gradually building a comprehensive regulatory system. After 2010, cell therapy began to attract the favor of major pharmaceutical companies and research institutions. The Wei Ze Xi incident in 2016 led to some delays in the development progress of cell therapy pipelines, but subsequent government regulation of technical guidelines and support for the development of the cell therapy industry have accelerated the rapid development of cell therapy, significantly increasing the number of clinical trials. In 2021, Fosun Kite's axicabtagene autoleucel injection and WuXi AppTec's regicelumab injection were successively approved, bringing two commercial CAR-T products to China. Biotechnology companies are competing to layout the cell therapy industry, and clinical research and development in stem cell therapy, TCR-T, etc., are also making continuous progress, with cell therapy about to embrace broad prospects.   Patient demand and technological innovation boost the growth of the cell therapy industry Cell therapy has achieved significant results in the field of malignant hematology, and other cell therapies bring hope to patients with solid tumors, cardiovascular, and neurological diseases. There are many unmet clinical needs in these disease areas, and the unique advantages of cell therapy are expected to bring long-term efficacy. Continuous iterative innovations in related technologies, including vector technology, gene editing technology, and scale-up, also contribute to the rapid development of the cell therapy industry. Source: Frost & Sullivan Report   Development of CXOs drives the growth of the cell therapy industry CXOs can provide necessary R&D facilities, GMP manufacturing plants, and related talent for small pharmaceutical companies, biotech startups, and virtual pharmaceutical companies. Their professional teams, rich production platforms, and strict quality inspection measures save costs, avoid risks, and shorten the R&D process for companies developing cell therapy products, promoting the enthusiasm of biotechnology companies for cell therapy R&D and facilitating the development of the cell therapy industry. Source: Frost & Sullivan Report   Diversified payment models promote the commercialization of cell therapy The diversified payment models in European and American countries have promoted the commercial development of cell therapy. From 2017 to 2020, the global CAR-T therapy market achieved a compound annual growth rate of 337%, and it is expected that China's diversified payment model will also pave the way for the commercialization of cell therapy. In the future, the scale of China's cell therapy market will maintain a rapid growth trend. Source: Frost & Sullivan Report   The future of China's cell therapy industry is promising Factors such as technological progress, R&D investment support, a large number of unmet clinical needs, and favorable government policies will effectively drive the development of China's cell therapy market: (1) Scientific and technological progress and innovation build momentum for the development of the cell therapy industry; (2) The government encourages R&D, with increasing R&D expenditures stimulating drug and therapy innovation; (3) Single treatment with cell therapy brings long-term efficacy and has unique advantages compared to traditional drugs; (4) There are many patients and many unmet clinical needs, providing new options for cell therapy; (5) China's marketed cell therapy products are CAR-T products, but the clinical trial treatment areas are extensive, and in the future, cell therapy will shine in more disease areas; (6) The gradual improvement of the government's regulatory system for the cell therapy industry brings more business opportunities. Source: Frost & Sullivan Report Click on the bottom left corner to read the original article , Read the full report now Previously, Frost & Sullivan has released several industry development white papers, including "White Paper on the Development of China's Medical CXO Industry," "2021 White Paper on the Promotion of Health Management by China's Health Insurance," "White Paper on the Development of China's Oncolytic Virus Industry," "White Paper on the Development of China's Cell and Gene Therapy Industry," covering many sub-fields of the healthcare industry.   In the future, Frost & Sullivan will continue to closely follow the latest developments within biopharmaceuticals and the healthcare industry, continuously outputting its own industry observations and views. Mao Hua revealed: "Currently, 'White Papers on the Development of Small Molecule Targeted Drugs,' 'IVD In Vitro Diagnostic Industry,' 'Neuro and Peripheral Intervention Industry,' 'Surgical Robot Industry,' 'Medical Imaging Industry,' etc., have all entered the preparation and writing stages, and will be gradually released to the market in the future. Everyone is welcome to keep an eye out for them."

Frost & Sullivan Insights On November 3, at the 2021 Tencent Digital Ecosystem Conference, Tencent officially disclosed its actions in chip development for the first time: the "Zixiao" chip for AI computing, the "Canghai" chip for video processing, and the "Xuanling" chip for high-performance networks have all made substantial progress. Among them, the "Zixiao" has now been successfully fabricated and successfully powered on. What kind of chips does Tencent want to build? Why does Tencent want to build chips? Li Qing, director of the Frost & Sullivan and LeadLeo research institute, was interviewed by The Economic Daily to discuss Tencent's "chip journey" with everyone.   The Economic Daily On November 3, at the 2021 Tencent Digital Ecosystem Conference, Tencent officially disclosed its actions in chip development for the first time: the "Zixiao" chip for AI computing, the "Canghai" chip for video processing, and the "Xuanling" chip for high-performance networks have all made substantial progress. Among them, the "Zixiao" has now been successfully fabricated and successfully powered on.   Tencent started from QQ and has been expanding around the software ecosystem since its establishment. Entering the chip industry, moving from "software" to "hardware," can be regarded as an important exploration in business layout. What kind of chips does Tencent want to build? Why does Tencent want to build chips?   What kind of chips to build Tencent's intention to build chips has long been evident.   In May 2018, Pony Ma, chairman and CEO of Tencent, revealed some ideas about chips during a forum speech.   He said at that time that when doing software and services, it seemed a bit distant from chips. But in fact, Tencent has built many data centers, including the cloud, and has a certain influence on many server-side needs, even including chips. The application services are massive, with a particularly large user base, which can force the chip design industry to make targeted designs. "If we can also get involved in supporting some chip research and development, it might be better."   Soon after, Tencent took the investment approach and initially entered the chip field: In August 2018, the AI chip startup SinoFoundry received 340 million yuan in Pre-A financing, led by Tencent.   In June or July this year, the outside world suddenly noticed that Tencent had posted multiple job openings for chip research and development on the Internet, involving chip architects, chip verification engineers, etc. So people speculated that Tencent's layout in the chip field had been strengthened.   On November 3, at the 2021 Tencent Digital Ecosystem Conference, the veil was lifted over Tencent's chips, and three types of chips all belong to dedicated chips. Among them, the "Zixiao" is mainly used for AI, the "Canghai" is mainly used for video, and the "Xuanling" is mainly used for intelligent networks. Regarding the characteristics of these chips, Tencent has made professional explanations, but it is still not easy for non-industry insiders to understand. In summary, the performance of these three types of chips has been significantly improved compared with similar products.   It is understood that in the future, Tencent's strategy in chip development will adopt a two-pronged approach, one is self-development and the other is cooperation. Tang Daosheng, senior executive vice president and CEO of the Cloud and Smart Industries Group, said that Tencent will always seek to maintain in-depth strategic cooperation with domestic and foreign chip companies through the model of ecological co-construction, combining the customization ability of chips with that of software. Why build chips Behind Tencent's chip-building efforts, there are two questions: one is why it wants to do it, and the other is why it can do it.   First, let's look at the question of "why it wants to do it".   Qiu Yuepeng, vice president of Tencent, COO of the Cloud and Smart Industries Group, and president of Tencent Cloud, introduced at the conference that with the development of the cloud computing industry, the trend of integrating software and hardware is becoming more and more obvious, and software-defined hardware is irresistible. Chips are the most core part of hardware. Tencent has been actively exploring in the chip field and has long-term investments. And AI computing, video processing, and high-performance networks are three scenarios with strong demand.   Tang Daosheng also responded during a media group interview. He said that Tencent's investment in this area is driven by demand, and it is also because some problems need to be solved, either to reduce costs or to use Tencent's infrastructure more efficiently.   “For example, the scale of AI services is very large. How to reduce energy consumption through self-developed chips, how to optimize costs, these are all areas that drive us to keep investing in this field. Another example is that as audio and video usage scenarios become more and more common, as an underlying technology and a more natural interactive mode for communication between people, it is applied in many scenarios of Tencent to meet needs such as healthcare, education, and live streaming, and it has also become an important place that consumes computing resources. We have also made a lot of investments in audio and video coding technology and hardware chips, hoping to achieve integrated software and hardware to support audio and video encoding and decoding more efficiently. Another example is the Xingxinghai server, which is built for the cloud and is a multi-core chip that meets the needs of cloud application scenarios.” Tang Daosheng said.   Li Qing, director of the Frost & Sullivan and LeadLeo research institute, told The Economic Daily reporter that integrating software and hardware is an AI trend. The support of algorithms must rely on the capabilities of underlying chips, and the existing ones are not sufficient to perfectly match the application of AI algorithm models. Not only Tencent, but Huawei and Alibaba are also building AI chips, which is the inevitable direction for enterprises building AI platforms.   Now let's look at the question of "why it can do it".   As we all know, the threshold for chips is very high. But compared with general-purpose chips, there are more opportunities for dedicated chips. Tencent's entry point is dedicated chips.   Li Qing believes that Tencent's choice is wise. This part of the chips is not meant to be open for all industries, but has specific uses. From the perspective of AI algorithm applications, it also tends to be in a professional direction. Video processing and audio and video technology are areas where Tencent is strong. Matching this ability with AI is very consistent with Tencent's current development strategy. R & D follows actual needs, not blindly following trends or hype concepts, which is very realistic.   Of course, Tencent's chip-building efforts are not without challenges. Li Qing said that after all, Tencent did not start from hardware. The key lies in the degree of self-development and cooperation with the outside world. Establishing an ecosystem has always been a principle that Tencent adheres to, and this part will definitely be opened up to partners in the future.   *This article is reprinted from The Economic Daily, with reporter Guo Rongcun. The original article is titled "A Detailed Explanation of Tencent's Chips: What Kind of Chips Are Being Built and Why".

From November 3rd to 4th, the 'Digital Realities Integration, Blossoming New Opportunities' 2021 Tencent Digital Ecosystem Conference was grandly held at Wuhan Optics Valley. Over 300 industry leaders, technology pioneers, economists, and other luminaries gathered together to discuss new opportunities for the integrated development of digital technology and the real economy. Yang Xiaocheng, Partner and Managing Director of Frost & Sullivan's Greater China region, as well as CEO of LeadLeo Research Institute, was invited to attend the conference and delivered a keynote speech titled 'Intelligent Creation of Intelligence - How AI Development Platforms Define Leaders'.   Scene: How does the AI development platform define a leader? At the meeting, Yang Xiaocheng shared from four aspects: AI development platform architecture, market space, competitive elements, and competitive landscape.   Firstly, Yang Xiaocheng started with the architecture of AI development platforms, pointing out that their key elements include infrastructure, training platforms, frameworks, and application technology services. Currently, the mainstream trend concepts surrounding these four elements include AI self-developed chips, cloud-native architecture, elastic computing, and DevOps (automated deployment).   In terms of infrastructure, enterprises have developed their own AI chips to adapt the chip circuit architecture to their algorithms, maximizing operational efficiency. Self-developed chips also show trends such as architectural innovation, morphological evolution, and integration of software and hardware. In terms of elastic and distributed training, cloud-native deep learning training platforms can achieve complete containerization deployment and use, and provide elastic scaling of resources based on Kubernetes, compatible with a variety of CPU and GPU processors. Distributed training can provide elastic configuration of underlying resources, improve system utilization, and enable users to achieve cost reduction and efficiency enhancement. At present, with the expansion of cluster scale, the probability of machine failures occurring at a given moment in the cluster is increasing. While the complexity of training models is rising, the fault tolerance of tasks is decreasing, and the demand for flexibility in cluster resource allocation is also constantly strengthening. Subsequently, Yang Xiaocheng led everyone to understand the current market situation and trends of AI development platforms. The report shows that the market size currently exceeds 20 billion yuan, with a stable growth in existing space. From the perspective of the development trend of application technology in the entire artificial intelligence industry, there have been the proposal of large models, the transformation from perceptual intelligence to cognitive intelligence, and the integration from single-modal to multi-modal. From an algorithmic perspective, the R&D investment in artificial intelligence algorithms accounted for 9.3%, exceeding 37 billion yuan. Computer vision, speech recognition/synthesis, and natural language processing accounted for 22.5%, 2.3%, and 7.1% respectively. In terms of computing power, China is accelerating the construction of a new generation of artificial intelligence computing infrastructure, with the 'implementation wave' of intelligent computing centers rapidly emerging across various regions. The AI industry in China invests about 50% of its costs in computing power construction, but development speed at the computing power level has not met expectations due to chip limitations, leading to an acceleration in the localization of AI chips. From the perspective of application needs, currently, it is still dominated by the government. Smart cities, which involve urban management, operation, intelligent analysis and security, account for 85% of the market share. On the ToB side, which focuses on energy, logistics, industry, consumption, etc., it is still mainly led by industry leaders. Currently, leading enterprises have already carried out large-scale applications in the field of artificial intelligence, and in the future, the artificial intelligence market will penetrate into small and medium-sized enterprise users. Data shows that from 2016 to 2020, the revenue scale of AI development platforms in China expanded rapidly, with the revenue of Chinese AI development platforms exceeding 20 billion yuan in 2020. At present, the revenue proportion of four businesses: computing power, data, model invocation, deployment, and maintenance is approximately 4:3:2:1. In the future, as AI applications deepen in various vertical scenarios, the revenue proportion of model invocation business is expected to increase. Yang Xiaocheng stated that the core competitive element of AI development platforms is how to create a platform that is more suitable for developers. He believes that efforts should be focused on two directions: enhancing the hard power of service supply capabilities and meeting customer needs through soft power.   In terms of hard power: First, intelligent annotation of data is a difficult leap from manual to intelligent methods. Second, machine learning frameworks need to gradually improve their defects, enhance user experience, and build an AI ecosystem. Third, pre-trained models should be made more flexible through compression and acceleration while scaling up in size. In terms of soft power: First is AutoML, one of the important trends in the field of artificial intelligence. It can help AI development platforms automatically complete tasks such as neural structure search, model selection, feature engineering, hyperparameter tuning, and model compression. Second is a developer-centric approach, which enhances platform service capabilities in multiple aspects including data preparation, model training, model management and deployment, and account management to build an ecosystem. Finally, Yang Xiaocheng mentioned that Frost & Sullivan and LeadLeo Research Institute released a frost radar chart on AI development platforms in September this year. They established two scoring dimensions: innovation index and growth index, to evaluate and analyze AI development platforms. The results showed that Tencent Cloud is positioned in the leader quadrant. According to its introduction, the innovation index consists of two primary indicators—technological innovation capability and business innovation capability. Among them, technological innovation capability has four sub-indicators that examine basic hardware, data collection and annotation, underlying architecture, and algorithm models. The growth index, on the other hand, starts from services and ecosystems. Looking at the overall performance, the AI development platform market in China is in a stage of technical maturity and platform improvement. Competitors have competitive advantages in terms of both innovation capability and growth capability for AI development platform products. "We can see that China's AI technology is still in the process of continuous development and improvement. I believe that in the future, AI development platforms will become more mature and affordable to implement earlier," said Yang Xiaocheng.