Part 5/8:
The film sector, a notable industry, has also seen declining revenue, indicating changing consumer priorities amidst budget constraints. While tourism shows promise, it is clear that overall spending and business sentiment suggest a challenging path for economic recovery.
Huawei's Semiconductor Advancements
On a different front, Chinese telecommunications giant Huawei is reportedly leading a semiconductor manufacturing hub in Shenzhen. This venture signifies an ambitious move to diminish reliance on foreign semiconductor technology. Huawei is preparing to manufacture advanced chips, including 7-nanometer smartphone chips and AI processors, as efforts to navigate Western export restrictions escalates.