Economy

A view of part of the Laos-China Railway under construction in Vientiane, Laos, 5 July 2021. (CNS)

BRI projects in Cambodia and Laos roll on despite Covid-19

The pandemic has affected BRI projects, but China has swiftly taken measures to keep BRI projects going by ensuring financial flow and supply of materials, so that key BRI projects in Cambodia and Laos are not much affected. Through the BRI, China’s economic presence and influence in Southeast Asia will continue to rise, while Cambodia and Laos will continue to rely more on China for their economic development.
A pedestrian pauses on a footbridge in the Lujiazui business district in Shanghai, China on 20 July 2021. (Qilai Shen/Bloomberg)

The Yangtze River Delta region: Promoting economic integration amid provincial competition

While the Yangtze River Delta region comprising Shanghai and parts of Jiangsu, Zhejiang and Anhui has been seeing strong economic development, it could be more productive. Provinces with their own targets to meet have few incentives for regional integration, leaving the region as a whole less competitive. How can policies or market mechanisms be implemented to encourage more collaboration between local governments?
A picture illustration of the banknotes of the euro, HK dollar, US dollar, Japanese yen, British pound and Chinese yuan. (Jason Lee/File Photo/Reuters)

Escalating China-US confrontation will accelerate RMB internationalisation

Peking University PhD student Xiong Lan believes that as US-China tensions ratchet up from competition to confrontation, it is likely that the process of internationalising the renminbi (RMB) will be accelerated. The next ten years will be crucial, if China is to reach targets such as for the RMB to exceed 10% market share of international currencies by 2029 and account for 30% of global reserves in the long run. What obstacles stand in the way?
Traders work during the IPO for Chinese ride-hailing company Didi Global Inc on the New York Stock Exchange (NYSE) floor in New York City, US, 30 June 2021. (Brendan McDermid/Reuters)

If not the US, can the Chinese government provide better IPO choices for internet companies?

Analyst Zheng Weibin notes that the clampdown on Didi shows that the competitive relationship between China and the US has affected the global interactions of tech giants, and political factors will matter more in global investments of startups in China. In the aftermath, will technological innovations such as digital manufacturing through artificial intelligence be straitjacketed?
A general view of Benzilanzhen, Yunnan province, China, 22 July 2021. (CNS)

Overcoming uneven growth in China's poorer western provinces: Potential and challenges

High-speed rail and other infrastructure development have been proceeding apace under China’s Western Region Development Strategy. However, in trying to catch up with the eastern region, the gap between provinces in the western region may have inadvertently been widened. Without an effective division of labour, wasted resources and unnecessary competition are likely.
A man waters a tree planted on the edge of the Gobi desert on the outskirts of Wuwei, Gansu province, China, 15 April 2021. (Carlos Garcia Rawlins/Reuters)

Can China revive its poorer western provinces?

China has sought to rectify the imbalance in east-west regional development by improving connectivity and accelerating infrastructure-building in the western provinces through the Western Region Land-Sea Corridor and BRI projects. How successful they will be depends largely on continued capital injections, the region’s greater opening up and good cooperation with China’s neighbouring countries.
People wearing face masks walk at a main shopping area in Shanghai, China, 27 January 2021. (Aly Song/File Photo/Reuters)

The most trusted provinces in China, according to Taobao

In a study on consumers’ shopping patterns across provinces in China, Associate Professor Chu Junhong of NUS Business School and Professor Pradeep K. Chintagunta of the Chicago Booth School of Business found that Chinese buyers tend to buy from sellers they trust, and a seller’s location forms a large part of that equation.
A pedestrian wearing a face mask walks over Westminster Bridge near the Houses of Parliament in central London on 7 June 2021. (Tolga Akmen/AFP)

China's Greater Bay Area ready market for British education exports

While the UK imports a high volume of goods from China, it exports many sought-after services in areas including finance, law and accounting. Its latest niche is its expansion into education, targeting the Guangdong-Hong Kong-Macau Greater Bay Area.
Workers pull a rope as a cargo ship carrying containers docks at the Lianyungang Port Container Terminal in Lianyungang, Jiangsu province, China on 24 March 2021. (Hector Retamal/AFP)

Demand swells for Chinese shipping crews amid global shortage

Amid worsening Covid-19 outbreaks in India and many Southeast Asia countries, ship operators are turning to China's massive workforce of 1.65 million crew members to fill the global shortage of crew members. Why are Chinese crew members in such high demand? Caixin journalists Jia Tianqiong and Yang Ge find out.