On June 22, People's Daily Online signed an investment project agreement with Qingdao National High-tech Industrial Development Zone (hereafter referred to as “Qingdao High-tech Industrial Zone”).

The two sides announced that People's Video Joint Venture Company will be registered in Qingdao High-tech Industrial Zone and that People's Daily Online will, with People’s Video as the leading company, join hands with Qingdao High-tech Industrial Zone in building an intelligent visualization industrial park to embrace the age of 5G communication.

With the accelerated development of 5G technology and the widespread popularization of a new generation of smart terminals, short videos and live video broadcasting are catalyzing new ways of life and work. This March, People's Daily Online, together with Tencent and Gehua Cable (including its related funds), announced the establishment of People's Video Joint Venture Company to more quickly the industrial layout. Qingdao High-tech Industrial Zone was finally selected as the registration place of People’s Video after comprehensive assessment, as it is one of the first state-level zones approved by the State Council in 1992 and is also one of Shandong national innovation demonstration zones.

Ye Zhenzhen, President of People's Daily Online, said that it is another exploration of People’s Daily Online in central-local government cooperation model to make People’s Video registered and headquartered in Qingdao High-tech Industrial Zone. By reform and innovation, People's Daily Online has followed the development path of internationalization, digitization, industrialization, and capitalization. Taking People’s Video as an opportunity, People's Daily Online will further cooperation and in-depth media integration with Qingdao High-tech Industrial Zone to nurture future new industries in 5G era.

As a pacesetter of the nation’s key news websites, People's Daily Online is fully qualified and has extensively tested new technologies and new forms of reporting, such as drones, virtual reality (VR), augmented reality (AR), and mobile live video broadcasting. As such, People’s Daily Online is frequently praised as one of the most innovative central news websites. New forms of media will emerge following the advancement of new technologies such. People's Video will make strong moves across the board so as to gain the initiative in the age of 5G.