Hing Chao, the grandson of one of Hong Kong’s four shipping tycoons, Chao Tsong-Yea, is the current executive chairman of Wah Kwong Maritime Transport. He was previously focused on preserving culture and promoting martial arts, and did not have much corporate management experience. Even so, since taking over, Wah Kwong’s new asset management business grew rapidly within a few years. Today, the company manages more than 80 ships, a manifold increase from the 20 or so vessels under its management before the pandemic. The company is also looking into setting up an office in Singapore. Zaobao senior correspondent Chew Boon Leong speaks to him to find out what inspired him to take on the family business.
Business
Politics
Southeast Asian countries need to do more to ensure that their historical contributions in developing China-Europe trade through the Maritime Silk Road are not lost amid contemporary narratives giving prominence to China’s centrality. This is not just a matter of historical accuracy but of sovereignty and identity, say RSIS academics Kwa Chong Guan and Han Fook Kwang.
Politics
Mutual mistrust and fear between China and foreign countries is mounting, especially amid the self-imposed travel restrictions on both sides for high-level executives. Lianhe Zaobao correspondent Han Yong Hong assesses that such developments are accelerating the decoupling between China and foreign countries, with little hope for reversal.
Technology
AI is all the rage at the moment, but technology expert Yin Ruizhi warns that China's AI-related startups may not stand a chance in the current environment as big tech platforms gobble small ones, and the business know-how is firmly in the hands of industry leaders who would choose to work with the tech bigwigs.
Politics
The diplomatic focus on third world countries during Mao Zedong’s era has taken a renewed form in Xi Jinping’s era with the focus on the global south, notes EAI academic Chen Gang. International circumstances could propel the Chinese to further elevate the importance of the global south, not least with the recent expansion of BRICS to include several global south countries.
Economy
After the Covid-19 pandemic, the Chinese economy faces arduous challenges and the Chinese government is trying its best to attract foreign businesses and investors. While Taiwanese business owners are obvious targets, China is only looking to attract Taiwanese companies of strategic value, specifically those in info-communications and machinery manufacturing. At the same time, Taiwanese business owners have become more guarded about investing in the mainland due to growing internal and external uncertainties. Lianhe Zaobao journalist Miao Zong-Han speaks with industry experts to find out more.
Technology
Humanoid robots have become the latest trend in the tech industry, with US and Chinese tech firms trying to beat each other to the punch in releasing their robots. While China is still lagging behind in software, the hardware gap between China and the US and Japan is expected to shrink.
Society
Commentator Tan Haojun highlights the many grey areas that the people in white in China find themselves in, amid an all-out anti-corruption campaign in the medical sector. It may be unimaginable that the same sector lauded for brave work during the pandemic is under investigation for rampant corruption. The reality is that heroes and the corrupt coexist, and only by reining in those hungry for power and profit can the system start to rid itself of the bad hats.
Economy
As China becomes more self-sufficient in producing its own goods, South Korea — one of China’s major trading partners — has to look to other countries to reduce its reliance on the Chinese market. Given the growing economic and trade relations, as well as the flourishing people-to-people exchanges, Vietnam has become a top choice for South Korea to expand its market.