Business

Following the easing of Covid-19 pandemic restrictions in China this year, the city of Dongguan which has been called “the world’s factory” has experienced a sharp decline in business orders as it came in last in economic growth within the province of Guangdong. Following China’s reform and opening up, the city developed rapidly and its GDP had even exceeded a trillion RMB. So, what is behind its current downturn, and where does its future lie?

China’s tech sector has been making mass layoffs, freezing hiring and cutting pay since 2022, and there is little sign of a bounce-back. Cost reductions, efficiency enhancement or talent structure optimisation are often the words these companies use. But what is really weighing on the job market are sluggish business growth, intensified market competition and the unprecedented challenges of the business landscape amid new technology.

The death of a Chinese businessman who was under questioning by the discipline inspection commission has garnered widespread attention. The public is asking, why did the private entrepreneur kill himself? Did the questioning and authorities put too much pressure on him? Was his confession coerced? Lianhe Zaobao China Desk looks into the matter and how the incident will affect the private entrepreneur community.

Lianhe Zaobao correspondent Chen Jing notes that as China’s economic and business policies shift and change, foreign companies are finding it difficult to decide whether to stay in China or pull out, given the challenges in meeting new regulations and requirements. But there are others who see opportunities.

Japanese academic Toshiya Tsugami analyses China's recent trade and investment flows amid US-China rivalry, highlighting the EV and semiconductor sectors which have become key battlegrounds in the competition between China and the West. How will development plans for the Chinese market and the global business environment be affected?

To maintain Huawei’s consumer products sales channels, Richard Yu, chairman of Huawei’s smart car unit, created Huawei Smart Selection model to partner with automakers to make cars and sell them at nearly 60,000 Huawei phone stores across the country. But the Smart Selection model is not without variables and risks from its partners. Caixin Global journalists tell us more.

Singapore has become a favoured business hub to set up headquarters for foreign companies, especially Chinese enterprises. However, this may come at a cost for the country, including a negative reputation and soaring real estate demand. Lianhe Zaobao senior correspondent Chew Boon Leong speaks with analysts to find out why international businesses are moving from their home base and the implications.

China's economic boom has driven the flourishing of private entrepreneurship and led to the emergence of tens of millions of family businesses in the country. But many of these businesses are facing a challenge now: who will be their successor? Caixin journalists tell us more.

World events have not been kind to Thailand’s economic plans. Besides high oil prices and US interest rates, Thailand faces prolonged slowdowns in its Northeast Asian economic partners. The challenges and opportunities are many, and ultimately hinge on stable democratic leadership.