Innovation

Technology expert Yin Ruizhi believes that the advent of AI-enabled ChatGPT might be a solution to the ageing populations in Asian countries such as Japan, South Korea and China, as humans are freed from jobs that ChatGPT can handle.

According to a development plan for China’s software and information technology (IT) service industry from 2021 to 2025, China is expected to significantly expand its capacity for developing key software and build two to three open-source communities with international influence by 2025. Meanwhile, China’s giant state-owned enterprises are also rushing to crank up domestic purchases of innovative IT applications under government pressure.

China’s 20th Party Congress signalled that the government is focused on dual circulation, in particular domestic circulation. However, that does not mean that China has the intention for implementing a closed-door policy. In fact, a healthy domestic circulation will boost China's ecosystem for innovation and growth and help China further open up.

China’s semiconductor industry has been dealt with multiple hurdles in the past year, with the latest roadblock coming from the US’s ban on chip export to China in October. Manufacturers, executives and technical experts now face the difficult decision of staying in this growing sector in China or in the US. Will China find a way around this new restriction?

Ahead of the 18th Joint Council for Bilateral Cooperation (JCBC) meetings between Singapore and China — the first to be held in person since the outbreak of the pandemic — Singapore’s Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat sets out a few priorities in taking Singapore-China relations to new heights.

The rapid rise of “the cosmos club” has paralleled China's rising aspiration to take on a prominent role in the international “space club”. Li Cheng, director of the John L. Thornton China Center of the Brookings Institution, takes a closer look at the career paths and institutional associations of emerging rocket scientists in China’s national and provincial leadership.

Researcher Ding Ke believes that the Chinese government is making efforts in using innovation to drive further development of the country and avoid the middle-income trap. But this would prove difficult amid heightened China-US tensions and the trend of economic decoupling.

Hainan is set to become China’s first free trade port and has great potential to beef up its financial offerings. Academics Pei Sai Fan and Chen Jingwei present a number of suggestions that could boost the Chinese province’s standing as an international hub for financial and regulatory innovations, green financing and connectivity.

While China has accelerated its push to build the infrastructure and to promote 5G among telcos and subscribers, it still faces a shortage of exciting new 5G applications that will draw in a constant stream of consumers or find wider industrial use. Amid a hostile external environment, it also faces some challenges in rolling out 5G and other advanced digital technologies through the Digital Silk Road. Nonetheless, it plans to go full steam ahead.