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A commuter rides his bicycle through an older neighborhood in Shanghai, China, on 30 August 2021. (Qilai Shen/Bloomberg)

Every individual counts: China should go for ‘common development’ rather than ‘common prosperity’

Rather than wealth redistribution per se, the deeper issue lies in achieving social justice and equal opportunities for all. Going by the US example, it might not be wise or even feasible to curtail the riches of the wealthy or to straitjacket their business environment. Instead, they and other members of the community can be encouraged to help bring about equitable access to education and a better life.
A worker stands in front of Mao Zedong sculpture at Dandong station at the border city of Dandong, in China's northeast Liaoning province on 11 August 2021. (Noel Celis/AFP)

China's growing north-south gap: Can the north catch up?

Zaobao correspondent Yu Zeyuan notes the growing gap between northern and southern China in terms of economic and population growth, as businesses and people become more concentrated in the south. How will the central government tackle this imbalance?
People visit the Alibaba booth during the 2021 China International Fair for Trade in Services (CIFTIS) in Beijing, China, 4 September 2021. (Florence Lo/Reuters)

How internet giants' monopolistic practices hurt SMEs in China

Internet giants in China have been engaging in monopolistic practices that hurt the development of small- and medium-sized enterprises, says technology specialist Yin Ruizhi. As such, these practices will be dealt with by the government if the platforms themselves do not find ways to resolve them. Is this another move towards "common prosperity"?
A general view shows buildings in Shanghai on 31 August 2021. (Greg Baker/AFP)

Taishan Club: The rise and fall of a secretive roundtable of China's richest

Few may have heard of the Taishan Club, and even fewer would have been admitted. How did it come about, and why was it dissolved earlier this year? Commentator Yuan Guobao gives us a glimpse into this secretive group of super-elite businesspersons with high net worth.
The Singapore skyline, 31 March 2021. (Roslan Rahman/AFP)

Rich China tycoons park family offices in Singapore

Associate business editor Pang Kia Nian takes a look at the increasing number of wealthy Chinese setting up single family offices (SFOs) — entities that manage assets for one family and is wholly owned or controlled by members of the same family — in Singapore. What makes Singapore an attractive place for high-net-worth individuals to park their offshore assets?
 Jack Ma, founder and executive chairman of China's Alibaba Group, speaks in front of a picture of SoftBank's human-like robot named 'Pepper' during a news conference in Chiba, Japan, 18 June 2015. (Yuya Shino/Reuters)

The end of 'Papa Ma Yun' and his Hupan University

As Chinese authorities take action against monopolistic behaviour and the “disorderly expansion of capital”, companies like Alibaba and founder Jack Ma are finding themselves falling out of favour not only with the authorities but with the public. The latest development is the name change for Hupan University, established by Ma, where the motivations of the institution have come under question. Zaobao correspondent Chen Jing looks at the issue.
Employees walk past chemical vapour deposition chambers at the Daqo New Energy Corp. plant in Shihezi, Xinjiang province, China, 11 May 2021. (Qilai Shen/Bloomberg)

Japanese academic: China’s industrial policy is not just about protectionism

Japanese academic Kai Kajitani notes that Chinese industrial policy has been attracting much attention these days, especially after recent moves to prevent monopolistic practices by major companies such as Alibaba. China has also been criticised by many for its practice of giving industrial subsidies. However, it is worth taking a closer look and examining these policies from the standpoint of current trends in economics, as like everyone else, China is experimenting with new possibilities.
Some items featured on Mi Crowdfunding. (Screen grabs from Mi Crowdfunding)

China's live-streaming e-commerce: The million dollar business fueling product innovation

Recently, Xinba, one of the biggest influencers on Chinese streaming platform Kuaishou, sold US$300 million worth of goods in a single 12-hour session, in a testament to the enormous pull of live-streaming e-commerce. Research shows that crowdfunded products often rely on live-streaming e-commerce to convey product information and funnel early adopters. Such an ecosystem creates a positive business environment for producing and marketing new products. Technology specialist Yin Ruizhi looks at how live-streaming e-commerce is fast giving China the edge in product innovation.
Protesters hold coffins displaying a picture of Chinese President Xi Jinping (left) and Myanmar military chief Senior General Min Aung Hlaing (right) during a demonstration in New Delhi on 3 March 2021, to protest against the military coup in Myanmar. (Prakash Singh/AFP)

Why the Chinese are confused by ‘ungrateful’ anti-China sentiments in Myanmar

Chinese academic Fan Hongda notes that mutual benefit is the real driver of bilateral relations, and expecting “gratitude” for maintaining ties is not the way to go. China would do well to rethink its mindset in international relations and the role it plays in the world.