Private enterprise

Astronauts (from left) Ye Guangfu, Wang Yaping and Zhai Zhigang wave during a ceremony ahead of the launch of the Long March-2F Y13 rocket, carrying the Shenzhou-13 spacecraft and them in China's second crewed mission to build its own space station, at Jiuquan Satellite Launch Center near Jiuquan, Gansu province, China, 15 October 2021. (Carlos Garcia Rawlins/Reuters)

Can commercial space programmes take off in China?

EAI academic Qian Jiwei notes that as China’s space capabilities increase, the field is being opened up to private companies. This move is likely to spark off greater innovation and efficiency for the industry and give China a leg up in the space race, but challenges exist in offering targeted policies and managing innovative outputs.
A screen displays trading information for ride-hailing giant Didi Global on the floor of the New York Stock Exchange (NYSE) in New York City, US, 3 December 2021. (Brendan McDermid/Reuters)

Will China concept stocks pull out of the US completely?

Amid recent news of Chinese ride-hailing company Didi delisting from the New York Stock Exchange, Zaobao correspondent Edwin Ong notes that China seems to be closing a regulatory loophole allowing companies to sidestep the Chinese authorities and get listed overseas. In turn, the US is taking action to require audit checks on Chinese companies that are already listed or want to get listed in the US. Is this a sign of financial decoupling between the US and China or will both sides reach an agreement on regulations?
Vendors sell vegetables at a stall in an older neighborhood in Shanghai, China, on 30 August 2021. (Qilai Shen/Bloomberg)

China's internet giants are shelling out money for 'common prosperity'. But is that enough?

Heightened gestures of corporate social responsibility and outright donations from major companies have been declared since the Chinese government’s recent push for “common prosperity”. Are these simply knee-jerk reactions to the government’s stance? Can companies be encouraged to be more socially responsible in the long term? China is all abuzz with talk on ways to achieve common prosperity.
The Alibaba Group signage is seen during the company's 11.11 Singles' Day global shopping festival at their headquarters in Hangzhou, Zhejiang province, China, 11 November 2020. (Aly Song/Reuters)

After reining in the tutoring sector, will the Chinese government target internet titans next?

With the Chinese government’s recent big crackdown on the education sector, some people are concerned that other internet platforms such as Alibaba and Meituan might be next. Technology specialist Yin Ruizhi explains why it is unlikely that Chinese internet titans will be hit as hard.
A woman walks past a sign of the Financial Street in Beijing, China, 9 July 2021. (Tingshu Wang/Reuters)

Why China is cracking down on big capital

It is not new for the evils of capitalism to be criticised in China. But the recent crackdowns on whole sectors, be it tech, tuition centres, or online gaming, has businesses wondering what just hit them. Is this the state’s way of showing who’s boss, and how will China’s economic vibrance be affected?
People look at images showing Chinese President Xi Jinping at the Museum of the Communist Party of China that was opened ahead of the 100th founding anniversary of the Party in Beijing, China, 25 June 2021. (Thomas Peter/Reuters)

'Red peril' or benign power: How different is China's CCP from USSR's CPSU?

Whether the Communist Party of China will escape the fate of the Communist Party of the Soviet Union depends greatly on the extent to which it has rooted out the six major ills that plagued the Soviet system. Only then can it rise smoothly and peacefully to the benefit of the world.
During the days of the Republic, Nanjing Road in Shanghai was one of the best-known commercial streets in the world. Stores and advertisements lined the streets; advertisement placards announcing sales and discounts were waved in the streets while tobacconists, pharmacies, watch shops and metal workshops vied for customers side by side.

[Photo story] The many faces of Shanghai over a hundred years

Over a century, the city of Shanghai saw it all. Westerners fell in love with Republican Shanghai, where commerce and culture flourished; Japanese invaders advanced and retreated; communism and capitalism vied for a stage. Despite these ups and downs, Shanghai has maintained a demeanour and style unto itself. Historical photo collector Hsu Chung-mao traces Shanghai’s days of glamour and the front-row seat it had in war, revolution, and reform.  
 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.