Economy

Worlds Largest Aviation Market

By 2034， the Asia-Pacific region will lead the world in terms of the scale of its aviation market， and Chinas domestic air traffic will become the worlds largest within 10 years， according to the Global Market Forecast released by Airbus in mid-July.

John Leahy， Airbus chief operating officer – customers， said that air passenger traffic in Western Europe and North America will maintain an average annual growth of around 3.7 percent. The Asia-Pacific will become the engine powering its growth in the next 20 years. China will soon become the worlds biggest aviation market. The emerging economies， further population concentration and wealth creation will all help to fuel air traffic growth.

By 2035， the middle-class population of the emerging economies will double to 3.5 billion. About 62 percent of the global population will live in cities. In the coming 20 years， passengers will make 2.5 million longdistance trips per year between major hub airports.

Passenger traffic will grow at an average 4.5 percent per year over the next two decades， driving a need for over 33，000 new aircraft equipped with more than 100 seats. By 2035， the global aircraft fleet will double to almost 40，000 from the current 19，500. Some 13，000 passenger and freighter aircraft will be replaced with more fuel-efficient types.

In the wide-body market， Airbus forecasts a need for over 9，500 widebody passenger and freighter aircraft over the next 20 years.

In the single-aisle market， Airbus predicts the need for over 23，500 new aircraft worth US $2.4 trillion. The AsiaPacific will account for 39 percent of these deliveries.

E-commerce Plus University

Chinas online-to-offline （O2O） giant MeituanDianping has announced its plans to set up an“Internet + University” to train e-commerce personnel. It is the first of its kind in the e-commerce sector in the world.

The college will integrate the companys training departments and establish several schools to train internal staff and business partners， to better serve customers.

“The college will cultivate personnel who know both the Internet and the life-servicestargeted vertical market， so as to develop business models， technology and skills to promote the ‘Internet Plus strategy，” said Wang Xing， company CEO.

He also noted that e-commerce platforms should not only focus on marketing and transactions， but also expand to other upstream services. He said that the essence of Chinas“Internet Plus” strategy is to improve efficiency and reduce costs across sectors by integrating the Internet with more industries.

The company has established partnerships with about 4.5 million vendors and now boasts nearly 600 million users， among whom over 200 million have been active customers in the last 12 months.

Chinas retail sales of consumer goods reached RMB 15.61 trillion in the first half of 2016， up 10.3 percent year on year， according to National Bureau of Statistics data.

Formed by the merger of group-buying platform meituan.com and review service dianping. com in October 2015， Meituan-Dianping offers a range of O2O services， from food delivery to movie tickets.

Thriving Games Market

Chinas games market saw sales revenues hit RMB 78.75 billion， expanding 30.1 percent year on year in the first half of 2016， according to the China Games Industry Report released in July.

The report shows that China has 489 million gamers， among which the number of mobile-end users stands at 405 million， up 10.7 percent year on year. In fact， the mobile games market saw the fastest growth， with sales soaring 79.1 percent to RMB 37.48 billion.

Statistics show that Chinas games industry posted revenues of RMB 140.7 billion in 2015， a 4.35-fold increase over that of 2010， and representing an average annual growth of 34.2 percent.

Sun Shoushan， vice chairman of the State Administration of Press， Publication， Radio， Film and Television， said that Chinas games sector is beginning to integrate with other sectors， such as Internet literature， film， and animation， ushering in a new growth period.

According to a report released by Newzoo， a Dutch market research agency， the global games market will generate a total revenue of US$99.6 billion in 2016. The Asia-Pacific region will hold a share of US $46.6 billion. China is likely to overtake the U.S. to become the worlds largest games market this year， with anticipated revenues of US $24.4 billion.

Chinas Energy Consumption to Peak by 2035

Chinas energy consumption will reach its ceiling of 3.75 billion tons of oil equivalent by around 2035， according to an energy outlook released by the economic and technology research institute of China National Petroleum Corporation （CNPC）.

The countrys fossil fuel usage will by 2030 peak at 2.93 billion tons of oil equivalent， according to the report.

The report said China will also see its energy mix become cleaner， with non-fossil fuels accounting for more than 30 percent of it by 2050， up from the current 12 percent.

Although coal will remain the dominant energy source in China， its proportion in Chinas primary energy mix may fall to 37 percent by 2050 as people use more natural gas and nonfossil fuels， the report said.

To cut carbon emissions and control air pollution， China has sought to change its energy mix and increase the use of non-fossil fuels such as solar， wind， hydropower， and nuclear energy. According to a national plan released in 2014， the share of non-fossil fuels in the primary energy mix will rise to 15 percent by 2020.

Thanks to increased energy efficiency and an optimized energy mix， China and the world will see carbon dioxide emissions peak by around 2030 and 2035， respectively.