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PR Newswire

Artprice by Artmarket.com: Condition of the Street Art market worldwide

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PARIS, Oct. 20, 2020 — At its online sale on 28 May 2020, Phillips sold Banksy’s lot Happy Choppers (2003) for $39,000. That may not seem surprising until you take into account that the work was a screenprint numbered 621 from a series of 750, purchased four years earlier for $4,500… which means its value climbed 70% per year.

 

Festival Peinture Fraîche (Wet Paint Festival) at the Halle Debourg in Lyon, from 2 to 25 October, 2020 - extended until 1 November 2020
Festival Peinture Fraîche (Wet Paint Festival) at the Halle Debourg in Lyon, from 2 to 25 October, 2020 – extended until 1 November 2020

 

Festival Peinture Fraîche (Wet Paint Festival) at the Halle Debourg in Lyon, from 2 to 25 October, 2020 – extended until 1 November 2020
www.peinturefraichefestival.fr

"Street Art is a truly universal art that can be found everywhere – from Rio to Berlin – and whose place is changing very rapidly on the Art Market," observes thierry Ehrmann, President and Founder of Artmarket.com and its Artprice department. "It’s a market that took 15 years to consolidate and is at last reaching maturity. It now constitutes a segment in its own right, with its stars and its masterpieces… but also numerous editions, some more important than others… some more affordable than others."

Works ‘in circulation’

Street Art is by nature a work created in an urban environment. As soon as it leaves the street to be exhibited in a gallery or exchanged in an auction room, it necessarily loses a great deal of its essence. That said, there is quite clearly a fully fledged and dynamic Street Art market.

The development of the market for Street Art seems to have learnt a lot from a number of other relatively recent art movements (Land Art for example). Street artists can record their interventions in public spaces with photography; they can also make small works or drawings or screenprints based on original street creations, or they can create a second body of paintings and original sculptures alongside their outdoor work. All of these ‘derivatives’ are now changing hands and lots end up in auction rooms… now forming a genuinely ‘deep’ market.

The 4 pillars of the market

Jean-Michel Basquiat left his mark on the streets of New York at the start of the 1980s, but did he remain a street artist all of his (short) life? Are his paintings and his drawings – worth millions of dollars – still part of Urban Art? In 2019, works by Jean-Michel Basquiat generated $130 million on the secondary market and those by Keith Haring totalled $42 million. These two major Contemporary artists remain generally associated with Street Art… but they are not in fact catalogued as such.

A similar ambiguity seems to apply to the more recent mega-phenomenon Kaws ($108 million in 2019) who has gradually moved away from his initial practice of Street Art over the course of his career. His paintings and sculptures, offered for sale by the most powerful Contemporary art galleries, have seduced a broad international market, particularly in Asia.

Flowing somewhat ironically against this trend there is of course the anonymous artist Banksy ($28 million in 2019) who voluntarily maintains his presence in urban spaces around the world.

15 years to create a structured market…

Nobody epitomises the rapid evolution of the Street Art market more than Banksy with his auction track record:

  • His first paintings were sold at auction in 2005
  • His auction turnover peaked just before the subprime crisis
  • 10 years of more or less regular turnover growth between 2010 and 2019
  • Exceptional resilience to the coronavirus crisis

With Banksy, the Street Art movement has undoubtedly found its figurehead and in the wake of the ‘Banksy phenomenon’, a whole market has emerged with three names that have become unavoidable: the French artist Invader ($4 million in 2019), the English artist Stik ($1 million) and the American artist Obey ($1 million), the latter who, alone, sold more than 700 lots at auction in 2019.

A dozen other street artists generate several tens of thousand of dollars a year each: Jonone, Mr Brainwash, Futura 2000, Vhils, JR, etc. But the markets of the bulk of street artists are still fragile. This is true even of relatively established artists like Ernest Pignon-Ernest, whose turnover usually averages around $50,000 per year.

Specialized sessions

In February 2008, Bonhams organized the first auction sale dedicated to Street Art in London. Soon afterwards, Phillips also offered a Contemporary & Urban Art session. But the subprime crisis and its repercussions halted the development of these sessions, and they were dropped by Phillips in 2009 and by Bonhams in 2013.

Artcurial also started its Urban Art sales in 2008 … and never abandoned them. The leading French auction house, which organized four Street Art sessions in 2019, now clearly dominates this niche market. In 2009, dedicated Street Art sales generated $10 million from 3,000 lots in auctions scattered between Europe and the USA: Digard and Cornette de Saint-Cyr in Paris, Tate Ward in London, Heritage in Dallas and Julien in Los Angeles.

An exciting market

Christie’s and Sotheby’s prefer to offer Street Art works in their catalogues, especially those of their most prestigious sales. In July 2020, Sotheby’s sold Banksy’s triptych Mediterranean Sea View (2017) for $2.9 million in an extraordinary sale entitled Rembrandt to Richter. Surrounded by such respected signatures, Banksy’s work was bound to elicit strong bidding.

Indeed, the sale of any Banksy work at a physical auction will always arouse interest since his Girl with Balloon (2006) self-destructed in 2018. In February 2020 at Artcurial, Raising the steaks (2001) – a photograph taken by Steve Lazarides but framed by Banksy himself –  reached $84,500. It was not impossible that Banksy had hidden another surprise in the work, which was duly accompanied by his PEST Control (certificate of authentication issued by the artist himself). 

Contact Artprice’s Econometrics Department for your questions relating to our indices and statistics, as well as for our Personalized Study Services: econometrics@artprice.com

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About Artmarket:

Artmarket.com is listed on Eurolist by Euronext Paris, SRD long only and Euroclear: 7478 – Bloomberg: PRC – Reuters: ARTF.

Discover Artmarket and its Artprice department on video: https://en.artprice.com/video

Artmarket and its Artprice department was founded in 1997 by its CEO, thierry Ehrmann. Artmarket and its Artprice department is controlled by Groupe Serveur, created in 1987.

See certified biography in Who’s who ©:

https://imgpublic.artprice.com/img/wp/sites/11/2019/10/biographie_oct2019_WhosWho_thierryEhrmann.pdf

Artmarket is a global player in the Art Market with, among other structures, its Artprice department, world leader in the accumulation, management and exploitation of historical and current art market information in databanks containing over 30 million indices and auction results, covering more than 740,000 artists.

Artprice Images® allows unlimited access to the largest Art Market image bank in the world: no less than 180 million digital images of photographs or engraved reproductions of artworks from 1700 to the present day, commented by our art historians.

Artmarket with its Artprice department accumulates data on a permanent basis from 6300 Auction Houses and produces key Art Market information for the main press and media agencies (7,200 publications). Its 4.5 million ‘members log in’ users have access to ads posted by other members, a network that today represents the leading Global Standardized Marketplace® to buy and sell artworks at a fixed or bid price (auctions regulated by paragraphs 2 and 3 of Article L 321.3 of France’s Commercial Code).

Artmarket with its Artprice department, has been awarded the State label "Innovative Company" by the Public Investment Bank (BPI) (for the second time in November 2018 for a new period of 3 years) which is supporting the company in its project to consolidate its position as a global player in the market art.

Artprice by Artmarket’s 2019 Global Art Market Report published in February 2020 :

https://www.artprice.com/artprice-reports/the-art-market-in-2019

Index of press releases posted by Artmarket with its Artprice department:

http://serveur.serveur.com/press_release/pressreleaseen.htm

Follow all the Art Market news in real time with Artmarket and its Artprice department on Facebook and Twitter:

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Discover the alchemy and universe of Artmarket and its artprice department http://web.artprice.com/video headquartered at the famous Organe Contemporary Art Museum "The Abode of Chaos" (dixit The New York Times): https://issuu.com/demeureduchaos/docs/demeureduchaos-abodeofchaos-opus-ix-1999-2013

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Contact Artmarket.com and its Artprice department – Contact: thierry Ehrmann, ir@artmarket.com

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PR Newswire

H3C Wi-Fi 6 Access Point Registers Fastest Connection Speed Ever Tested: Tolly Test Report

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BEIJING, Oct. 19, 2020 — H3C’s Wi-Fi 6 flagship access point WA6628 delivers single-client wireless throughput up to 4.176Gbps on the 5 GHz radio, representing the fastest Wi-Fi connection speed that has been tested by Tolly Group so far, according to a recent report of the leading global provider of testing and third-party validation and certification services to the IT industry.

An excerpt from the Test Report for H3C Wi-Fi 6 (802.11ax) Access Points Performance Evaluation and Feature Validation by Tolly Group
An excerpt from the Test Report for H3C Wi-Fi 6 (802.11ax) Access Points Performance Evaluation and Feature Validation by Tolly Group

The new Tolly Test Report revealed test results of the performance, maximum number of clients, features, and Internet of Things (IoT) integration of H3C’s four WA66 Wi-Fi 6 access points and six WA63 Wi-Fi 6 access points. Both series provide high single-client and multi-client performance, suggested the report.

To evaluate the 5 GHz radio performance of the H3C WA6628 Wi-Fi 6 access point, Tolly engineers used a Spirent C50 Wi-Fi 6 test appliance to simulate single wireless client access to the WA6628.

Test results showed that the WA6628 provides a downlink TCP (Transmission Control Protocol) throughput of 4.176Gbps in 4×4 MIMO, four spatial streams, and 160 MHz bandwidth mode.

Single-client Throughput

Tolly engineers used the latest Wi-Fi 6 mobile terminal to access the H3C WA6320, WA6330, and WA6338 Wi-Fi 6 access points, and used IxChariot to test their performance, noted the report.

The results indicated that the H3C WA63 Wi-Fi 6 access point series provides a single-client downlink wireless throughput over 945Mbps on the 5 GHz radio and over 460Mbps on the 2.4 GHz radio, improving performance by more than 33 percent and 95 percent over Wi-Fi 5 access points, respectively.

Multi-client Throughput

Tolly engineers simulated a good number of Wi-Fi 6 clients to access the 5GHz radio and the 2.4 GHz radio simultaneously, and verified that the system throughput of H3C WA6628 and WA6320 Wi-Fi 6 dual-radio access points can reach 4.5Gbps and 1Gbps respectively, said the report.

The H3C WA6638 and WA6330 Wi-Fi 6 triple-radio access points have a system throughput up to 4.02Gbps and 1.78Gbps respectively, according to the report.

Such throughput capacities can effectively solve the problem of concurrent Internet lag that often happens when multiple people work with the help of a Wi-Fi system simultaneously, and enable relevant products to handle the ever-increasing traffic in the application scenarios of such technologies as 4K high-definition video, augmented reality (AR), virtual reality (VR), and Virtual Desktop Infrastructure (VDI). 

Multimedia Streaming

The H3C WA6638 and WA6338 Wi-Fi 6 triple-radio access points each allows 650 clients to simultaneously stream multimedia applications, while the WA6330 access point supports up to 610 clients to simultaneously stream multimedia applications, said the report.

The excellent capacities can significantly improve users’ Wi-Fi experience in high-density scenarios like conference halls.

User Capacity

The H3C WA6638, WA6630X, and WA6338 Wi-Fi 6 access points each can provide wireless access simultaneously for 1,500 clients, according to the report, which showed that the H3C WA6330 access point can provide wireless access simultaneously for 1,280 clients.

IoT Integration

Tests conducted by Tolly Group suggested that many models of the H3C WA66 and WA63 Wi-Fi 6 access point series can use built-in Bluetooth low energy (BLE) and radio frequency identification devices (RFID), and exchange data with IoT endpoints.

The WA6322, WA6330, WA6622, WA6630X, and WA6638 access points provide PoE ports, which can connect to and supply power and transmit data for external IoT modules, the report disclosed.

H3C has been developing wireless products for more than ten years and ranked first in the Chinese enterprise Wireless LAN (WLAN) market for 11 consecutive years.

The company has introduced a Wi-Fi 6+5G+IoT integration solution, which could fully manage basic connectivity concerning Wi-Fi 6, 5G and IoT through a unified platform architecture, thus realizing flexible network expansion, unified management, and unified data, and lower construction costs.

The newly upgraded Wi-Fi 6 access points of H3C, which feature fast connection speed and stability, aim to meet the demand for connectivity in various scenarios and guarantee the stable operation and long-term development of clients’ businesses.

Adhering to its "AI in ALL" strategy and "Digital Brain Project 2020", H3C has developed a total of 18 Wi-Fi 6 products fully covering different scenarios in various industries.

By providing a rich variety of scenario-based Wi-Fi solutions, the company has been actually laying foundation for the digital transformation of various sectors.   

Please refer to the link for the Test Report for H3C Wi-Fi 6 (802.11ax) Access Points Performance Evaluation and Feature Validation by Tolly Group:

https://reports.tolly.com/Docdetail.aspx?Docnumber=220129

About H3C

H3C is an industry leader in the provision of Digital Solutions and is committed to becoming the most trusted partner of our clients in their quest for business innovation and digital transformation. H3C offers a full portfolio of Digital Infrastructure products, spanning across compute, storage, networking, security and related domains, and provides a comprehensive one-stop digital platform that includes cloud computing, big data, interconnectivity, information security, new safety, Internet of Things (IoT), edge computing, artificial intelligence (AI) and 5G solutions, as well as end-to-end technical services.

For more information about H3C, please visit http://www.h3c.com/en/

Follow H3C’s latest news on Facebook, Twitter and LinkedIn

 

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PR Newswire

Consumers in APAC continue to struggle with bill payments amid COVID-19

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The second wave of Experian’s 2020 Global Insights Report highlights the impact of the global pandemic on consumer spending habits and potential implications for financial institutions

SINGAPORE, Oct. 19, 2020 — Consumers in Asia Pacific (APAC) have reported difficulties in paying their bills and almost a quarter (23 per cent) are reducing their discretionary spending since the start of the pandemic, according to latest data from Experian. One in five are doing so due to job loss or an anticipated shift in their financial circumstances, and 29 per cent are spending less due to lifestyle changes imposed by social distancing measures such as dining out, entertainment or travel. The survey also found that there has been a 50 per cent increase in the number of APAC consumers who face challenges in paying personal loans and mortgages since COVID-19 started.

Experian – a leading global information services company – surveyed 3,000 consumers and 900 executives working in retail banks, e-commerce, consumer technology and telecommunications. Respondents spanned Australia, Brazil, France, Germany, India, Japan, Singapore, Spain, the United Kingdom and the United States. This report is the second of three in a longitudinal study exploring the major shifts in consumer behaviour and business strategy pre- and post-COVID-19, with economic perception at the epicentre.

Since the beginning of the pandemic, governments across the region have instituted loan moratoriums for businesses and consumers, observed in several markets including Singapore, Malaysia, Australia, Japan, China and India.

Ben Elliott, CEO Asia Pacific, at Experian, says: "This crisis has created huge challenges for everyone. Consumers are doing the right thing to protect their financial health by re-prioritising their spending. For those facing challenges in paying their bills, the loan deferrals available in some markets enables them to discuss a short-term payment suspension, or to defer or reduce payments, and this should not impact their credit history if they agree on the terms with their lender."

The impact of the pandemic on the relationship between consumers and brands that can support them is already visible. Majority (89 per cent) of consumers who have opted for financial assistance or payment deferment support stated that they would recommend these services to others. Moreover, 41 per cent of APAC customers would give an organisation more business if they felt they were treated fairly during the pandemic.

Mr Elliott adds: "As customer profiles change rapidly, lenders face the prospect of steep provisioning. We have been helping banks and lenders to understand that during a downturn, it is important for them to utilise a decisioning system to identify financially stressed customers with early-warning indicators, respond quickly to change, predict future customer behaviour, and deliver the right treatment at the right time. We’ve found that this helps with building greater trust and ensuring loyalty in the long run, and also improves their customer retention."

The report found that businesses in APAC are increasingly prioritising investments in analytics to better determine customer affordability and hardship. Sixty-two per cent of businesses are increasing their budget for analytics and customer creditworthiness in the next six months and nearly half (48 per cent) of APAC businesses are looking to recalibrate and improve their existing analytics models.

MoneyPlace, one of Australia’s fastest growing personal loan providers, is an example of a fintech company successfully leveraging Experian’s data, cloud-native decisioning platform, and analytics to manage existing and new customers. The technology enables them to identify suitable customers instantaneously, with risk-based pricing to offer low-interest personal loans with fixed rates and no ongoing fees, enabling customers to tide through tighter economic situations. Speed and agility are key to MoneyPlace’s success, as potential customers can obtain a personalised interest rate online in two minutes, with the whole loan application process completed in 10 minutes.

Stuart Stoyan, founder and CEO at MoneyPlace, says: "Experian provides us with an enterprise grade, cloud-based platform to combine customer data at the point of application with credit, fraud, and internal data, enabling us to obtain a comprehensive view to make informed decisions quickly. This is especially important during the current environment, where a broad range of data sources are needed to appropriately assess a loan application, whilst fulfilling customer expectations of a seamless online experience."

Read more about findings from the Global Insights Report – Wave 2 here.

About Experian

Experian is the world’s leading global information services company. During life’s big moments – from buying a home or a car, to sending a child to college, to growing a business by connecting with new customers – we empower consumers and our clients to manage their data with confidence. We help individuals to take financial control and access financial services, businesses to make smarter decisions and thrive, lenders to lend more responsibly, and organisations to prevent identity fraud and crime.

We have 17,800 people operating across 45 countries and every day we’re investing in new technologies, talented people and innovation to help all our clients maximise every opportunity. We are listed on the London Stock Exchange (EXPN) and are a constituent of the FTSE 100 Index.

Learn more at https://www.experian.com.sg/ or visit our global content hub at our global news blog for the latest news and insights from the Group.

Related Links :

https://www.experian.com.sg/

PR Newswire

BGK agrees with IMF report: “Infrastructure investment is a key priority for the CESEE region to accelerate convergence toward the EU15”

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WARSAW, Poland, Oct. 17, 2020 — Infrastructure investment is a key priority for Countries in Central, Eastern, and Southern Europe (CESEE) to accelerate the convergence of the living standards toward the level of the more advance European countries, the EU15 – says the IMF report published on 28th Sep 2020. IMF highlights the Three Seas Initiative Investment Fund (3SIIF) as an initiative with the "aim to address infrastructure needs in CESEE."

The report estimates that closing 50% of the infrastructure gap until 2030 would require an annual investment of 3-8% of GDP. Attracting private investors should be an important step towards achieving this ambitious challenge.

To engage investors, the state development bank of Poland, Bank Gospodarstwa Krajowego (BGK), took the initiative to establish the Three Seas Initiative Investment Fund (3SIIF). In the report, the IMF mentions the Three Seas Fund as one of "the several initiatives aim to address infrastructure needs in CESEE".

"The Three Seas Fund is the economic dimension of the Three Seas Initiative. The Fund is the most important financial undertaking in Central and Eastern Europe. We set a clear goal for the Fund – financial support for infrastructure investments in the region. Such support is especially important these days as economies struggle with the effects of the COVID pandemic. The initiator and co-founder of the Fund is the Polish development bank BGK. We established the Fund together with our partners from the Romanian development bank EximBank" – says Beata Daszyńska-Muzyczka, the 3SIIF Supervisory Board Chairperson and BGK President.

The Three Seas Fund’s main objective is to invest in transport, energy and digital infrastructure on the north-south axis in the Three Seas countries and to offset the regional development differences in the European Union. The Fund is a commercial and market-driven initiative that will grant a diversified investment and an attractive return.

The IMF team also state that, if done right, infrastructure investment could yield significant dividends in the region. More and better public investment can help repair the economic damage of the pandemic, raise potential output, and speed income convergence with the EU15.

"At this time of economic slowdown, its benefits could be even larger. We estimate that for each percent of GDP spent on infrastructure, the output could rise by 0,5-0,75% in the short run and by 2-2,5% in the long run" – the report reads.

See full IMF report here: https://www.imf.org/en/News/Articles/2020/09/24/na092820-central-eastern-southeastern-europe-after-covid-19-securing-recovery-wise-public-investment

Visit the 3SIIF website here: https://3siif.eu/

Contact with BGK press office:
Bank Gospodarstwa Krajowego
Anna Czyż, tel. +48609220208, media@bgk.pl

PR Newswire

iQIYI iCartoonFace Paper For Cartoon Character Recognition Accepted by Prestigious Multimedia Conference

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BEIJING, Oct. 16, 2020 — iQIYI Inc. (NASDAQ: IQ) ("iQIYI" or the "Company"), an innovative market-leading online entertainment service in China, is pleased to announce that its paper on face recognition and detection technology of cartoon characters (the "Paper"), titled Cartoon Face Recognition: A Benchmark Dataset, has been accepted by the Association for Computing Machinery (ACM)’s annual conference on multimedia (ACM Multimedia), a leading academic conference in the field of multimedia technology.

The acceptance of the paper indicates that the value of iQIYI’s iCartoonFace technology has further been acknowledged by the international academic community. Experiments showed that iCartoonFace design framework of the proposed benchmark dataset can effectively improve the efficiency and accuracy of cartoon character recognition. 

ACM Multimedia, the leading international conference in multimedia, focuses on advancing the technological research and applications of images, text, audio, speech, music, sensor and social media.

Rising to the challenges of cartoon character recognition

Although algorithms and applications of real human facial recognition have become increasingly mature, the development of cartoon character recognition technology remains in its infancy. Meanwhile, the scenarios requiring cartoon character recognition technology are growing rapidly as the animation industry booms.

Aside from video-oriented structured analysis, there is also robust demand for cartoon character recognition technology in image search, ad recognition and other use cases. However, as cartoon characters are more complex than human characters, they pose much greater technical challenges. Unlike human characters, who are fairly consistent in appearance, cartoon faces are far more varied in terms of color and texture as well as their potential for small inter-class differences and large intra-class variations.

A high-quality cartoon dataset is key to realizing technology breakthroughs and relevant applications of cartoon character recognition. However, most existing cartoon recognition datasets are riddled with issues such as data insufficiency and sound contamination. In the Paper, iQIYI’s team presents a new multi-character training framework for cartoons and real people. The Paper also introduces a semi-automatic dataset construction framework and the world’s largest cartoon character detection and recognition dataset with manual annotation — iCartoonFace. iCartoonFace contains over 400,000 high-quality real-scene images of over 5,000 characters. It can be applied to structured analysis, intelligent video-editing, image searching, ad recognition and even identification of satirical cartoons characters.

Currently, cartoon recognition technology enabled by iCartoonFace is being used in several of the Company’s innovative offerings and software development work. For example, iQIYI’s AIWorks feature supports the automatic collection of cartoon character elements and generates AI-enabled video mashups. The AI Radar ‘Qiguan’ feature allows users to identify cartoon characters when viewing animated content.

iQIYI drives innovation in pursuit of delivering optimal user experiences

iQIYI is dedicated to developing cutting-edge technologies and exploring the applications of new technologies in entertainment. In the last two years, the Company successfully held two multimodal video character recognition challenges which helped to significantly advance the accuracy of multimodal character recognition.

Most recently, IQYI partnered with the International Joint Conference on Artificial Intelligence and the Pacific Rim International Conference on Artificial Intelligence to hold the first large-scale cartoon character recognition competition in China. This competition attracted a wide range of talent, with 500 teams from top universities such as Peking University, Fudan University, Zhejiang University, Shanghai Jiao Tong University, and University of Chinese Academy of Sciences, as well as well-known technology companies such as Alibaba, Tencent, Baidu, JD.com and SenseTime. Looking ahead, iQIYI will continue to strengthen its research and innovation as it strives to constantly explore the next generation of tech-driven applications and experiences.

To learn more about the Paper, please visit https://dl.acm.org/doi/abs/10.1145/3394171.3413726

About iQIYI, Inc.

iQIYI, Inc. is an innovative market-leading online entertainment service in China. Its corporate DNA combines creative talent with technology, fostering an environment for continuous innovation and the production of blockbuster content. iQIYI’s platform features highly popular original content, as well as a comprehensive library of other professionally-produced content, partner-generated content and user generated content. The Company distinguishes itself in the online entertainment industry by its leading technology platform powered by advanced AI, big data analytics and other core proprietary technologies. iQIYI attracts a massive user base with tremendous user engagement, and has developed a diversified monetization model including membership services, online advertising services, content distribution, live broadcasting, online games, IP licensing, online literature and e-commerce.

PR Newswire

Beijing’s digital economy accounts for over half of GDP in 2019

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BEIJING, Oct. 16, 2020 — A report from China SCIO:

The digital economy of Beijing accounted for over half of the city’s GDP in 2019, the highest ratio in China, municipal officials announced on Thursday.

The total added value of the Chinese capital’s new economy last year, including new industries, new types of business, and new business models, reached 1.28 trillion yuan (US$190.4 billion), up by 57% compared to 2016, according to figures released at the National Mass Innovation and Entrepreneurship Week yesterday.

With the goal of becoming a national scientific innovation center, Beijing is accelerating its plan of building national labs, major facilities, and other national-level innovation platforms, said Tan Xuxiang, head of the Beijing Municipal Commission of Development and Reform.

He said Beijing is conducting the largest number of major science projects and is also dedicating the largest expenditures on those projects throughout the country.

In 2019, Beijing’s R&D spending accounted for 6.3% of its GDP, with over 15% channeled to basic research. The city has 132 patents for every 10,000 citizens, maintaining the highest ratio in China for years. Six COVID-19 vaccines developed by companies based in Beijing have been approved for clinical trials with three entering phase-3 trials. Seven COVID-19 test kits developed by companies in Beijing have been granted approval to market.

According to official data, 27,000 new tech companies, over 200 maker spaces, and more than 150 incubators and science parks in universities were set up in Beijing in 2019.

The city is home to 200,000 startup service providers, 20,000 angel investors, 670 venture capital firms, nearly 500 innovation platforms, 25,000 national-level high-tech companies, and 93 unicorn companies (startups valued at US$1 billion or more).

Beijing’s digital economy accounts for over half of GDP in 2019
http://english.scio.gov.cn/chinavoices/2020-10/16/content_76813525.htm

 

Related Links :

http://english.scio.gov.cn

PR Newswire

xQuant Named to 2020 IDC FinTech 100 Rankings

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HANGZHOU, China, Oct. 16, 2020 /PR Newswire/ — xQuant, a leading multiple-asset trade processing, portfolio management and risk analytics system and services provider for capital markets and investment management communities in China, announced that it has ranked No. 94 on the 2020 IDC FinTech 100 Rankings, one of the most comprehensive rankings in the financial services industry.  It is the first time xQuant has been recognized among the leading 100 technology providers that supply the technological backbone of the global financial services industry, one in which IDC Financial Insights forecasts worldwide technology spending to exceed $577 billion (USD) by 2024.

Founded in Hangzhou in 2000, xQuant provides systems and services for multiple asset front-to-back trade processing, portfolio management and analytics, risk management, pricing and risk analytics, data management and services.

Data for the annual IDC FinTech Rankings is gathered from surveys completed by vendors, as well as original research and market analysis conducted by IDC Financial Insights.  To view the complete list of 2020 IDC Rankings, click here. 

 

PR Newswire

Consumer Electronics and Automotive Sectors to Push Adoption Potential for Electrically Conductive Materials

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Development of nanomaterials to manufacture electrically conductive materials will unlock new growth opportunities, says Frost & Sullivan

SANTA CLARA, California, Oct. 15, 2020 — Frost & Sullivan’s recent analysis, Growth Opportunities for Conductive Materials, finds that increasing demand for high-efficiency electronics and components such as electrical circuits is sparking innovation in the electrically conductive materials industry. The demand for materials such as conductive polymers, conjugated polymers, quantum dots, metamaterials, conductive hydrogels, and shape memory alloys is expected to increase in the next five years. Extensive miniaturization efforts and anticipated electric vehicle penetration will result in the consumer electronics and automotive sectors securing the highest adoption potential for electrically conductive materials.

Photo – https://mma.prnewswire.com/media/1312704/electric_material_wire_Frost_Sullivan.jpg

For further information on this analysis, please visit: http://frost.ly/4o9

"Enhanced material properties such as thermal management improved electrical conductivity, and better mechanical properties will result in significant operational efficiency upgrades," said Aarthi Janakiraman, TechVision Research Manager at Frost & Sullivan. "The development of nanomaterials for manufacturing electrically conductive materials will open up new avenues for adoption. This will improve the application scope by addressing the key consumer demand for compact and energy-efficient devices."

Janakiraman added: "Effective mergers and acquisition (M&A) can significantly improve geographic reach and help create techno-commercial synergies, which is critical for long-term sustenance by catering to a broad customer group. Additionally, collaborations  with  electrically  conductive  material  manufacturers  can  help  product  developers  attain a  unique market position as, in this case,  know-how and a large-scale production facility for nanomaterials can ensure efficient pricing."

To tap into growth opportunities exposed by conductive materials, market participants can focus on:

  • Collaborating with material developers to improve cost performance.
  • Adopting electrically conductive materials such as graphene, quantum dots, and conductive polymers to improve electrical performance and meet the demand for new capabilities.
  • Using electrically conductive materials such as poly (3, 4-ethylenedioxythiophene) and polyimide conductive polymers to noticeably increase the process’s energy efficiency.

Growth Opportunities for Conductive Materials is the latest addition to Frost & Sullivan’s TechVision research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

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Growth Opportunities for Conductive Materials

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Second Citizenship from St Kitts and Nevis Opens Doors to British Education in Times of Crisis

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LONDON, Oct. 9, 2020 — Despite predictions that the pandemic would cause a decline in international students, the United Kingdom is set for a record increase. Interestingly, enrolments from non-EU international students went up 9 per cent this academic year. According to Jimmy Beale, the founder of The English Education, a placement consultancy that advises international parents about independent schools in the UK, Chinese students make up much of the international student body in Britain. A Chinese education agency survey also found that the UK surpassed the US as a destination of choice for students due to growing tensions between China and the US.

Beale, whose clients are often admitted to top tier institutions like Westminster and Harrow, says that all international boarding pupils who do not have UK passports require a Tier 4 Student Visa. Although the process is simple for students, parents had difficulties visiting their children as embassies in certain countries were closed. 

"If you are a St Kitts and Nevis citizen, the process of sending your child abroad for schooling is much simpler," says Natasha Jones, a legal assistant at CS Global Partners. "You are exempt from requirements to prove knowledge of the English language, you do not need to have a tuberculosis test if you reside in St Kitts and Nevis, and you are exempt from the requirement to self-isolate for 14 days upon arrival in the UK if you have spent the last 14 days in St Kitts and Nevis. Family members [with St Kitts and Nevis citizenship] can also easily visit their children who are studying in the UK because of their visa-free access," she added.

Jones also highlighted St Kitts and Nevis’ status as a Commonwealth country and the benefit that it brings. "In the UK, Commonwealth citizens are eligible for various scholarships for master’s degrees and PhD courses which often cover tuition fees, living allowance, and travel," she said.

The fastest and easiest way to attain St Kitts and Nevis citizenship is through the Citizenship by Investment Programme. Once vetted, investors can contribute to the Sustainable Growth Fund and receive citizenship. Along with the advantages of education and travel, citizenship can also be passed down. For a limited time, families of up to four can invest $150,000 and brighten their child’s path to high-quality education.

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Infosys Named a Global Leader in Digital Process Automation Services

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BENGALURU, India, Oct. 8, 2020 — Infosys (NYSE: INFY), a global leader in next-generation digital services and consulting, announced today that Forrester has named Infosys a global leader in Digital Process Automation (DPA) Services, in its recent report entitled "The Forrester Wave™: Digital Process Automation Service Providers, Q3 2020". Infosys ranked highest in the "current offering" category and among the top two in the "strategy" category. The report notes Infosys’ long history in process automation and a deep, impressive expertise in executing large and sophisticated projects across North America, Europe, and Asia.

For the report, Forrester assessed 13 service providers through its 22-criteria evaluation of DPA services. The report recognizes Infosys for its investments in unique IP to ease the development experience on DPA platforms and strengths in process discovery, modeling, and documentation. The report also acknowledges Infosys’ mature customer experience.

Dinesh Rao, EVP and Global Head – Enterprise Application Services, Infosys, said, "We see global enterprises moving towards a cloud economy that makes them adaptable, flexible and interoperable. Our innovative digital process automation offerings, part of Infosys cobalt, help enterprises accelerate this cloud journey. Our FLUID DPA strategy, a core differentiator together with our digital capabilities, including low code application development, deliver perceptive experiences and responsive business value chains. This helps organizations in accelerating their speed to market and evolving towards becoming a resilient live enterprise. Being recognized as a Leader by Forrester validates for us the excellence of our capabilities and investments made in this space."

Rob Koplowitz, Vice President, Principal Analyst Serving Application Development & Delivery Professionals and John Bratincevic, Senior Analyst at Forrester, wrote in the report, "Infosys excels in areas related to wide technology deployment. Process discovery, modeling, and documentation are all strengths — with extensive partnerships to match. Its work enabling citizen developers is also industry-leading, with investments in unique IP to ease the development experience on DPA platforms and provide in-context feedback through virtual coaches. Infosys’ customer experience methodology is also very mature, and reference client feedback indicated strong customer experience results. Infosys is a good choice when you have a wide range of sophisticated DPA needs that require deep technical and process expertise."

A complimentary copy of the Forrester Wave for Digital Process Automation Services, Q3 2020 report can be accessed here – https://www.infosys.com/services/digital-process-automation/insights/positioned-leader-forrester-wave-2020.html

Related Reading – https://www.infosys.com/services/digital-process-automation/overview.html 

About Infosys

Infosys is a global leader in next-generation digital services and consulting. We enable clients in 46 countries to navigate their digital transformation. With nearly four decades of experience in managing the systems and workings of global enterprises, we expertly steer our clients through their digital journey. We do it by enabling the enterprise with an AI-powered core that helps prioritize the execution of change. We also empower the business with agile digital at scale to deliver unprecedented levels of performance and customer delight. Our always-on learning agenda drives their continuous improvement through building and transferring digital skills, expertise, and ideas from our innovation ecosystem.

Visit www.infosys.com to see how Infosys (NYSE: INFY) can help your enterprise navigate your next.

Safe Harbor

Certain statements in this release concerning our future growth prospects, financial expectations and plans for navigating the COVID-19 impact on our employees, clients and stakeholders are forward-looking statements intended to qualify for the ‘safe harbor’ under the Private Securities Litigation Reform Act of 1995, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding COVID-19 and the effects of government and other measures seeking to contain its spread, risks related to an economic downturn or recession in India, the United States and other countries around the world, changes in political, business, and economic conditions, fluctuations in earnings, fluctuations in foreign exchange rates, our ability to manage growth, intense competition in IT services including those factors which may affect our cost advantage, wage increases in India, our ability to attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-time frame contracts, client concentration, restrictions on immigration, industry segment concentration, our ability to manage our international operations, reduced demand for technology in our key focus areas, disruptions in telecommunication networks or system failures, our ability to successfully complete and integrate potential acquisitions, liability for damages on our service contracts, the success of the companies in which Infosys has made strategic investments, withdrawal or expiration of governmental fiscal incentives, political instability and regional conflicts, legal restrictions on raising capital or acquiring companies outside India, unauthorized use of our intellectual property and general economic conditions affecting our industry and the outcome of pending litigation and government investigation. Additional risks that could affect our future operating results are more fully described in our United States Securities and Exchange Commission filings including our Annual Report on Form 20-F for the fiscal year ended March 31, 2020. These filings are available at www.sec.gov. Infosys may, from time to time, make additional written and oral forward-looking statements, including statements contained in the Company’s filings with the Securities and Exchange Commission and our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company unless it is required by law.

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