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.
Content-providers have been trying to lower costs for the notorious censorship in China, for example by introducing more AI-driven tools. But the government is fearing too much unwanted content if falling through the cracks, asks for tougher censorship, adding dramatically to the costs, says business analyst Ben Cavender to MSN.
From a cash country, where transactions were done by moving plastic bags with money between bank branches, China has turned into a leading force in fintech or financiel technology. Mobile payment are standard. Bitcoins and blockchain technology found in China early adopters. Social media have – more than anywhere in the world – adopted payment systems to facilitate online trade.
Major industries like travel, retail, automotive, telecom and others see their traditional business models changing very fast. At Shanghai-based SOSV managing director William Bao Bean helps startups to make money in new ways, based on data, and capture fast emerging markets, he tells at the Phocuswright Europe conference in Amsterdam last week. Companies should not cling to melting margins, but identify where money can be made, he argues.
The stagnation of China’s growth caused a massive drop of rich out of the Hurun China Rich List, says Hurun chief researcher Rupert Hoogewerf. But that drop has been more than compensated by the record growth of new unicorns in the country, he tells the South China Morning Post. China fostered almost 100 new unicorns in 2018.
Dropping stock markets have caused a bloodshed at the 2018 Hurun Rich List where 11% dropped off the list compared to 2017. But also 219 new faces entered the list, says Rupert Hoogewerf, Hurun Report Chairman and Chief Researcher at their website. Alibaba’s Jack Ma became number one again, pushing out real estate tycoons.
Digital transformation is key in the planning of companies, governments and individuals, as the world is changing beyond recognition. But for the world outside China it often remains unclear how the most innovative country is going to influence their digital future.
Speakers at the China Speakers Bureau can help you to make sense out of this often disruptive change of the world. Here we bring together a group of leading experts on China and how its digital transformation is going to change the world outside China too.
Chinese companies have been gaining market share in India on a large scale, but in a different way than other foreign companies. William Bao Bean, managing director of the Chinacellerator, looks at their strategies and how they gained market share, for US News. William Bao Bean has a solid business background in both China and India.