Leading telecom operator China Unicom expects around 330 million units of mobile phones to be sold in China this year, including 100-180 million 5G phones. The commercial use of 5G technology, approved in June 2019, triggered a surge in consumer enthusiasm and an acceleration in industrial investment.
In 2019, science and technology enterprises in Shanghai raised 5.46 billion yuan ($78 million) on the sci-tech innovation board, also known as the STAR market, the People's Bank of China's Shanghai head office reported. The aggregate, calculated since the opening of the board in July 2019, accounted for 69.9 percent of their annual financing via initial public offerings.
Online retail sales of home appliances accounted for 41.17 percent of the total in 2019, according to a report by the China Center for Information Industry Development, a think tank under the Ministry of Industry and Information Technology. Dishwashers, electric toothbrushes and energy-saving appliances sold like hot cakes. Traditional brick-and-mortar stores also saw a digitalization trend via upgrading.