The Chinese traffic and transport industry offers enormous opportunities with the Chinese government planning to spend $1.5 trillion in infrastructure over the next 15 years, with a $340 billion investment in road construction.* The market opportunities are eminent with the high influence of government policies in major economic decisions regarding the investment in infrastructure. It is predicted that with the world’s ever-growing population by 2050, 85 percent of the world’s population will live in urban areas. China’s major cities are already facing traffic jams, pollution and overcrowding. Smart mobility is an integral part of major projects to help solve these problems.
*Source: commonwealthbank March 2016
Cloud platforms in Shanghai
Shanghai is streamlining government services for their residents through Citizen Cloud, a cloud-based platform that doubles as a mobile app. The cloud platform aggregates and provides easy access to over 100 government services for Shanghai residents, which includes drivers’ license information, healthcare records and a wide range of community services. By December 2017, approximately one-third of Shanghai’s population, or seven million users, have begun using the platform and app to access essential public services.
Go cashless in Beijing
Why commute with subway tickets or use cash when you can pay with your phone? Beijing is leading the front on cashless payments, pioneering the use of mobile payments for public transport and retail. For one, Huawei has rolled out mobile payments across major cities like Beijing through the Huawei Pay app. The app directly links to public transport cards, or preloaded fares, and credit cards, allowing commuters to pay by simply tapping their smartphones at metro gantries, convenience stores and retail shops.
Hangzhou's "City Brain"
Launched in 2016, the Hangzhou “City Brain” project, created by Chinese retail and tech company Alibaba, uses cameras systems and sensors across the city to collect data on road conditions in real-time. The data is fed to an AI hub, which then manages traffic signals at 128 intersections, and helps city officials make better decisions at a faster rate. By pulling from traffic and weather data, the City Brain analyses real-time traffic flow to regulate traffic signals at over 100 intersections.
Collaboration with ITS China to focus on high tech supply and demand
ITS China will organize their own event as an integrated part of Intertraffic China. All Intertraffic exhibitors will benefit from this collaboration. ITS China is linked to market leaders and universities. The close cooperation with ITS China will advance possibilities and connections to (local) government bodies and key buyers within the police and traffic departments. ITS China works under the instruction and supervision of the Ministry of Science and Technology and the Ministry of Civil Affairs of the P.R. China. Along with the accelerated development of intelligent cities, ITS has become one of the most promising industries in China favored by policies. The overall market of ITS in 2014 will increase to 7.6 billion USD, and in 2015 is expected to exceed 12 billion USD.
China key region
China is becoming a key region of Asia with growth forecast for all the important sectors of the economy. It is continuing to pursue a free-market policy. The conditions for foreign companies are improving steadily - more legal certainty, admission to the WTO, tariff reductions, privileges for foreign investors and liberalisation of trade. China is the 2nd largest economy in the world. In 2012, China is one of the fastest growing economies in the world, with a real GDP growth rate of 7.8 percent in 2012. Although the figure is its slowest growth since 1999, it is also representative of a maturing economy as China gradually transitions from a developing to a developed nation. The predicted yearly growth figure for the coming years is estimated at 7%.