Caixin

A man wearing a face mask walks past an advertising board featuring Bing Dwen Dwen, the Beijing 2022 Winter Olympic Mascot and Shuey Rhon Rhon, the 2022 Beijing Winter Paralympic Games Mascot, in Beijing, China, 24 January 2022. (Tyrone Siu/Reuters)

Beijing gears up for Winter Olympics amid Omicron threat

Beijing is about to make history by becoming the first city to host both the Summer and Winter Olympic Games. Despite being a country that had a late start to winter sports and being hit by the Omicron variant lately, how will China push through and deliver a “safe, streamlined and splendid” event as promised?
Visitors walk in front of "HOLD ONTO YOUR BITCOIN" by Gustav Szabo, known as Szabotage, which will be converted into NFT and auctioned online at Sotheby's, at the Digital Art Fair, in Hong Kong, China, 30 September 2021. (Tyrone Siu/File Photo/Reuters)

The uncertain future of NFTs in China

The non-fungible token (NFT) is a growing phenomenon in China, despite a cautious regulatory environment and official hostility to cryptocurrencies, which also use blockchain technology. But experts warn that as with every technology, particularly new ones, there is also a risk of misuse, such as in instances of fraud or compromised accounts.
Visitors look at a display of a semiconductor device at Semicon China, a trade fair for semiconductor technology, in Shanghai, China, 17 March 2021. (Aly Song/Reuters)

Chinese tech companies in chipmaking race to be self-reliant

The global chip shortage throughout 2021 prompted many tech companies to rely more on themselves. Coupled with the rise of artificial intelligence, demand for high-capacity chips has increased with tech companies and device makers racing to deliver smarter services and products. But the global semiconductor industry is also getting increasingly crowded, as more and more newcomers seek to gain a foothold in advanced chips to power new technologies.
A barber cuts a man's hair along a road in Beijing, China, on 7 December 2021. (Wang Zhao/AFP)

How being a good Samaritan can ‘spoil the market’

While some businessmen have good intentions in offering goods and services at lower prices, they could also be “spoiling the market” and making it harder for others to make a living. Such actions may invite backlash, whether in village scuffles, or writ large, protests and anti-dumping measures between countries. China, the world’s factory, has borne the brunt of such pushback. Industries in other countries are affected, as capital moves freely between borders but labour stays in place. Those who feel they are losing out may hold grudges and end up dealing a big blow to society.
A couple with a child ride on a scooter in Shanghai, China, on 7 September 2021. (Hector Retamal/AFP)

‘Leftover men’ in the Chinese countryside and ‘leftover women’ in Chinese cities

Perhaps the theory of the survival of the fittest can help to explain the opposite gender imbalance in rural-urban China. Aspirant males and females head to cities in search of better prospects; the latter, with the added aim of better marriage prospects, invariably outnumber the men. Of the males that stay or return, there is the heavy bride price to pay to win the hand of a lady among the smaller pool of women left in the rural areas. This modern malaise is something no provincial policy can easily solve, says economist Li Jingkui.
Computer games are seen at a store in Beijing, China, on 10 September 2021. (Greg Baker/AFP)

Will overregulation kill Chinese firms' metaverse ambitions?

The metaverse is the latest tech industry buzzword that has generated great interest among Chinese tech companies and China's capital market. Not everyone is equally enthusiastic, however, as Chinese authorities appear to be taking a cautious approach, attempting to strike a balance between regulatory control and the risk of stifling innovation. Caixin explores what's in store for the metaverse.
A person looks towards cranes in front of the skyline of the central business district (CBD) in Beijing, China, 18 October 2021. (Thomas Peter/Reuters)

Can China pull itself out of the economic doldrums?

China was the only major economy to expand in 2020 as the Covid-19 pandemic swept across the world. But its regulatory whirlwind over the past year has created uncertainties and headwinds for the economy. Caixin tells us the five key things to watch for as the world’s second-largest economy ploughs through the final quarter of the year.
People walk in a commercial street during the country's national "Golden Week" holiday in Beijing, China, on 2 October 2021. (Jade Gao/AFP)

Chinese economics professor: What to do when you have a stinky neighbour

A family stroll down a food alley has Chinese economist Li Jingkui teaching the Coase theorem while holding his breath and fleeing a luosifen stall and its pungent smells. If rights of stallholders are defined and transaction costs are low, then the optimal value of resources in society will be realised. That is, either the luosifen moves away under some compensation from his neighbour or it stays put and his neighbours cope with the negative externalities this presents.
Residents walk through Huanggang village in Shenzhen, China, on 11 October 2021. (Qilai Shen/Bloomberg)

China needs to raise personal income to achieve common prosperity

Analyst Luo Zhiheng compares China's distribution of national income with 20 major economies and concludes that among other things, there is a need to address a lower-than-average share of personal income in China, in order to achieve common prosperity. The Chinese government can work towards the goal of fostering an olive-shaped income distribution pattern by adjusting the tax structure, providing more investment options to its people, and developing its social security network.