This article is by: China.org.cn
Read more about it here: How China cleans its air
An excerpt from China.org.cn:
Today we see real progress being made in China's efforts to create a better environment and improve its air quality. Due to the commitment of the government and the people, independent studies like a recent one by the University of Chicago acknowledge the drastic decrease in airborne fine particles in many Chinese cities.
An array of measures has made the country's economic advancement sustainable and encouraged international players to take serious action in their fight against air pollution. The toughest program launched by China in its war against pollution was the "Air Pollution Prevention and Control Action Plan" in 2013. In just four years, the concentration of inhalable particles decreased by 10% to 25% in large cities.
China's capital city, Beijing, is spearheading the campaign against air pollution. In its 20-year battle against pollution, the city reduced PM 2.5 content (microscopic particles in the air which reduce visibility) by over 40%, according to a report by the Beijing Municipal Ecology and Environment Bureau.
This article is by: South China Morning Post
Read more about it here: HSBC sets up US$880 million technology fund to find the next Tencent or DJI in southern China’s Greater Bay Area
An excerpt from South China Morning Post:
As companies are looking to cash in on the potential of uniting the infrastructure and development of the Greater Bay Area, HSBC said on Tuesday that it is creating a US$880 million technology fund to provide financing to early stage companies in the region.
In 2018, the GBA was home to nearly 120 million people and had a combined gross domestic product of US$1.6 trillion, making it larger than Australia if it were a stand-alone economy. The China Centre for International Economic Exchanges, a government-affiliated think tank, has estimated that the region’s GDP could exceed US$4 trillion by 2030.
This article is by: Finanz Nachrichten
Read more about it here: WeChat Pay's European Flagship Smart Airport to open at Amsterdam Airport Schiphol accelerating spread of WeChat ecosystem overseas
An excerpt from Finanz Nachrichten:
"This launch of the WeChat Pay European Flagship Smart Airport at Amsterdam Schiphol is another important milestone for WeChat Pay to establish its ecosystem in Europe. From this hub on the European continent, we will continue to deepen the application of WeChat Pay's smart solutions in all walks of life across the region." (Dave Fan, Senior Director of WeChat Pay)
Schiphol sets WeChat Pay experience zones within the airport to provide assistance to Chinese travellers, and also has its merchants ready for WeChat Pay as one of their mobile payment methods.
Many Chinese people are used to going out without their wallets, and WeChat Pay aims to provide the same convenient experience to them when they travel abroad.
This article is by: CNN Travel
Read more about it here: Beijing is building hundreds of airports as millions of Chinese take to the skies
An excerpt from CNN Travel:
Handling more than 100 million passengers in 2018, Beijing's existing Capital International Airport is now the second busiest airport in the world after Hartsfield-Jackson Atlanta International Airport and is hitting full capacity.
At present an average of eight new airports are opening in the country every year.
New airports will also be built in China's west, where there are currently fewer facilities. This will aid the development of this region both for business and tourism but also further Beijing's push to exert its influence over far-flung regions.
"The mainland government has a very clear development strategy to promote the economic development in the less developed areas and locations like the western and northeastern parts of China," says Cheung Kwok Law, director of policy at the Chinese University of Hong Kong's Aviation Policy and Research Centre.
This article is by: Visual Capitalist
Read more about it here: The World’s Most Valuable Bank Brands
An excerpt from Visual Capitalist:
When most people think about brands, they often picture iconic consumer marks like Coca-Cola or Apple. But in the realm of financial services, the importance of having a strong consumer brand is also rapidly growing. (...)
For the third year in a row, the Industrial and Commercial Bank of China (ICBC) takes the top spot, with a brand value of $79.8 billion. Wells Fargo is the top U.S. bank by brand value, coming in 5th place – however, the bank actually fell two spots from last year’s ranking while simultaneously losing 9% of its brand value.
It is also interesting to note that Chinese banks have taken all four of the top spots on the list, with ICBC, China Construction Bank, Agricultural Bank of China, and Bank of China having a combined brand value of over $250 billion. In total, Chinese banks grow 28%, achieving US$407 billion in total brand value, over US$100 billion more than US banks. For 5 years, the ascent of Chinese banks over time is rocketing. (...) Now, the 4 first banks in the top 5 are Chinese.
This article is by: CNBC
Read more about it here: Chinese streaming giant iQiyi is planning out an original movie business
An excerpt from CNBC:
Often compared with Netflix, Beijing-based iQiyi became the biggest Chinese company since Alibaba’s public offering to list in New York last year. The video streaming company offers both paid and free content such as Youtube is currently doing. iQiyi, which is majority-owned by Baidu, ranks second in China’s video streaming market in terms of online video subscriptions, with Tencent’s video platform taking first place.
CEO Gong Yu told CNBC in an interview last week that the company’s near-term priorities are producing original content and incorporating artificial intelligence. And in that drive for original material, iQiyi is focusing on movies, he said. “We plan to spend the next two to three years to see whether we can innovate in this industry,” Gong said. “In other words, in the future, the leading top movies on iQiyi will be original productions by iQiyi. The first window of opportunity is still to screen them in movie theaters. The second window of opportunity is to show them on iQiyi, so as to maximize the total revenue.” But Gong said he expects it will take more than five years in order for the technologies to produce content that is clearly different than what is available today. “Deep learning allowed AI technology to explode commercially at one go in 2017, so we have just started AI technology,” he said. “Maybe in the next 8, 10, 15 years, we may enjoy the changes brought by AI technology.”
China has rapidly grown into one of the largest markets for movies in the world, raking in $9 billion last year and placing second only to North America at $11.9 billion, according to the Motion Picture Association of America. Tencent Video and iQiyi have just over 530 million monthly active users each, according to Questmobile. Last week, eiQiyi unveiled over 270 new projects at its annual conference in Beijing.
This article is by: Technode
Read more about it here: Alibaba’s grand strategy to feed China’s middle class
An excerpt from Technode:
The explosive growth in online sales of the shengxian category (literally “raw fresh”) is one of the strongest manifestations of China’s so-called “consumption upgrade.” Driven by rising disposable income and all-too-frequent domestic food scares, such as the ongoing African Swine Fever epidemic, Chinese consumers are demanding healthier and safer food alternatives. Meanwhile, distrust in domestic producers and a tendency to favor foreign products has dramatically increased the amount of food sourced from overseas.
Increasing food imports and an escalating “fresh produce war” make access to high quality overseas suppliers a key competitive advantage. Although all online grocery players are in one way or another dabbling in direct sourcing, supplier partnerships or even vertically-integrated food production, none have a supply chain strategy that is as comprehensive or as ambitious as that of Alibaba
This article is by: South China Morning Post
Read more about it here: How 5G is leading the world to another dimension of mobile connectivity
An excerpt from South China Morning Post:
IoT ("Internet of Things) envisions a self-configuring, adaptive and complex network that interconnects physical objects, each containing embedded technology to communicate, gather data and interact with mobile applications or other networks.
In Hangzhou, one of the country’s major technology hubs, evidence of the city’s smart infrastructure can be gleaned from how its public services function. Police officers are notified of major car accidents soon after they happen, traffic lights automatically adjust to changes in the volume of vehicles on the road, and in emergencies, fire trucks and ambulances are not stopped by a single red light until they arrive at the scene.
Those advances are enabled by Hangzhou’s City Brain project, a cloud computing and artificial intelligence-driven urban traffic-management system covering a total area of 420 square kilometres – that’s seven times the size of New York’s Manhattan island.
This article is by: VOA News
Read more about it here: Amazon Curtailing Business Operations in China
An excerpt from VOA News:
The company announced recently that as of July 18, it will no longer provide services through its Chinese website, Amazon.cn.
The decision means Amazon will stop selling goods from China-based vendors to domestic consumers on the portal. Although it is moving out of the e-retail business in China, Amazon will continue with its cross-border business, bringing foreign brands and goods to China, the company said.
China is considered by many as a difficult market for foreign players even without taking into account hindrances caused by government policy. In the case of Amazon, however, analysts said the reasons for its poor performance lie in its not being able to localize to meet the requirements of the market.
American and European brands will have to depend heavily on local e-commerce companies like Alibaba and jd.com to see their products, analysts said. Although Amazon will continue to sell foreign-made goods, its reach is limited in China because local companies dominate the cross-border trade as well.
This article is by: The Straits Times
Read more about it here: Greater Bay Area can be 'Silicon Valley and Wall Street'
An excerpt from The Straits Times:
China's ambitious Greater Bay Area innovation cluster will be a key driver of the country's economic growth and will attract talent from not just the region but also around the world, say the three top officials of Guangdong, Hong Kong and Macau. Incentives such as tax breaks, subsidies and talent immigration schemes have been announced in a bid to create a high-tech city cluster that will rival the innovative bay areas of San Francisco, New York and Tokyo.
Designed to push China's economy forward by taking it on the path of innovation and high-tech development, the Greater Bay Area is President Xi Jinping's brainchild and consequently enjoys unprecedented support from the central government. China's Industry and Information Technology Minister Miao Wei said the government will take a hands-off approach and let the market lead. "We will place companies as the main actors. We will reduce micro interventions by the government so that the market can decide on resource allocation."
Your On-the-Ground People in China.
DISCLAIMER: Information in these blogposts are reposts of existing sources and is assumed to be accurate at the time of release.
Handpicked Group is not responsible for any losses or misinformation as these are not considered specialized advice. Information placed is to provide general information and updates.
Note that links to the original sources in older blog post may have expired.