Chinese enterprises are pursuing the huge potential of new industries like 5G technology and green energy.
One of those concentrating on 5G technological innovations is Kunshan Q Technology in eastern China's Jiangsu province, a top manufacturer of fingerprint recognition modules and cameras in tablets and cell phones.
Terry Liu, deputy operating general manager of the company knows that "It won't take long for 5G smartphones to take over the market."
Seeing more than just smartphones selling out, Liu is aware of the number of cameras in a single phone going from one to five with the resolution increasing from just two megapixels to the 48 megapixels we now have.
Because of this, Liu is aware that "There will be more cameras with higher resolutions on phones in the future." This is what companies like his is banking on.
Just in June of 2019, China gave out 5G licenses for commercial use.
Thus, budget-friendly 5G phones started getting sold by companies like ZTE and Huawei.
Liu knows that to keep market growth, there will be a demand for high-quality products saying their "confidence also comes from the continuing upgrade of electronic devices."
While China's digitalization of its real and domestic economies had given way to artificial intelligence, big data, and 5G, some Chinese companies started pursuing a greener economy.
At the forefront of this quest is Snowman Group in Fuzhou, in eastern China's Fujian province, makers of commercial and industrial refrigeration and cold storage units. It has become a major producer and developer of high-level compressors through global acquisitions and mergers.
Being the owner of compressor brands like RefComp from Italy and SRM from Sweden, they "noticed SRM had been developing air compressors used in hydrogen fuel cells since the 1990s."
Because of this, they "decided to go one step further to tap into the hydrogen vehicle market," said Lin Rujie, Snowman's Group deputy general manager.
From then on, the company has inked 21 deals with engine and automakers like Yutong Bus and Dongreng Motors for air compressors of these company's hydrogen vehicles. There's also an existing hydrogen bus prototype for King Long Motor.
Seeing the potential for green energy as a "positive momentum" for their "growth", "We expect the mass production of our hydrogen-powered buses within this year," Lin added.
Lin isn't the only one who believes in China's huge potential in hydrogen energy. Analysts note that the country's quest to conquer the hydrogen industry is in accordance with the standards of the global strategy on energy transmission.