China’s automotive industry has traditionally taken a backseat compared to global competitors, but is planning a major overtake when it comes to pushing startups on self-driving, says China lawyer Mark Schaub in the Asia Nikkei. “In China, if you always wait till the law comes into effect, you are six months to a year behind what the regulators are saying,” Schaub said.
In the early days, KFC and McDonald’s tried to conquer China’s consumers with a standard US menu. Now diversification and localization have become a key feature in the success of both fast-food chains, although the road has not been without bumps, says marketing expert Ashley Dudarenok to the Panda Daily.
China’s government tries to raise the number of newborns to offset an aging population, but the latest demographics show Chinese do not follow that lead as the country’s birthrate is dropping. People choose to make a different choice, explains social commentator Zhang Lijia in the Guardian. “And society has become more tolerant.”
Typically, China’s economy comes to a standstill during the annual Chinese New Year, but not in 2021, explains business analyst Shaun Rein to CNBCTV. GovermentalCovid-19 restrictions make it tough for migrant workers to return home, and double salaries at the factories might encourage them to continue working during the festival. Other industries like travel and leisure might suffer, though.
The aging founders of the first-generation modern companies in China are trying to survive their first generational switch and private equity funds try to help them digitize their operations to move on, says Winston Ma, adjunct professor at New York University School of Law and former managing director of the sovereign wealth fund China Investment Corporation (CIC) in the Global Finance Magazine.