[view:title]

People walk with umbrellas in Lujiazui financial district in Pudong, Shanghai, on the day of the opening session of the National People's Congress (NPC), China, 5 March 2021. (Aly Song/Reuters)

Post-Covid-19: Asia will be the beating heart of the world

Amid the gloom, there’s room for optimism in Asia in the post-Covid-19 landscape, says Benjamin Hung, CEO, Asia, Standard Chartered. The pandemic has speeded up structural changes in this growing region’s business landscape, and created greater opportunities which will pave the way for Asia’s strong rebound in 2021 and beyond.
People walk along a bridge that connects two shopping malls in Jakarta on 14 February 2021. (Adek Berry/AFP)

Chinese academics: How China and ASEAN can deepen digital economy partnership

With the conclusion of the 1st ASEAN Digital Ministers Meeting (ADGMIN) last month and the series of digital policies introduced, ASEAN is ready to move forward on building an integrated digital economy. Even as ASEAN aims to become an important player in the digital global value chain, there are areas where China and ASEAN can work together to achieve a win-win situation. Professor Zhai Kun of Peking University and Yuan Ruichen, member of the research group of the BRI Big Data Innovation Experimental Project, suggest cooperation in areas such as building smart cities, cybersecurity and digital governance.
This file photo taken on 27 October 2020 shows a woman walking past an Alipay advertising billboard in a subway in Beijing. (Greg Baker/AFP)

Building an integrated digital economy: How Asia can continue to thrive in the post-pandemic era

With the pandemic showing little signs of slowing and as countries around the world shift away from the traditional economy, academic Pei Sai Fan notes that this is an opportune time for Asia to boost its digital economic sector. Namely, there will be the opportunity to consider building a more integrated Asian digital economy and to promote Asian digital trade and a common digital currency.
In this file photo taken on 20 October 2019, people walk in front of a screen at the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China. (Aly Song/File Photo/Reuters)

Beijing's tech conundrum in 2021: How to bolster tech sector while reining in the digital giants

Amid greater efforts at achieving greater self-sufficiency in developing core technologies, China will turn to an erstwhile resource it has depended on — the state — to move forward. But will state-controlled venture capital funds be nimble enough to catch the next wave of tech innovations? And judging by the regulatory clampdown on Ant Group and others in recent months, a key preoccupation of 2021 will remain growing the digital economy while trying to rein in digital giants.
Alibaba Group co-founder and executive chairman Jack Ma attends the World Artificial Intelligence Conference (WAIC) in Shanghai, China, 17 September 2018. (Aly Song/REUTERS)

Alibaba probe: China's challenges in dealing with monopolies start with the state-owned enterprises

With the recent investigation into Alibaba for alleged monopolistic actions, Chinese legal expert Zong Haichao explores the need for balance in the measures taken by the Chinese government to curb monopolies. While many expect 2021 to be “year one” of the anti-monopoly era, Zong cautions that there are many challenges facing China's anti-monopoly moves, including the presence of state-owned enterprises and the lack of a sophisticated Chinese legislative structure.
A logo of Ant Group is pictured at the headquarters of the company, an affiliate of Alibaba, in Hangzhou, Zhejiang province, China, 29 October 2020. (Aly Song/File Photo/Reuters)

Regulating new technologies: Singapore and China can work together

Law experts Tan Chong Huat and Amanda Chen observe that the recent halting of Ant Group’s dual listing on the Hong Kong and Shanghai stock exchanges augur more regulatory changes in the micro-loans industry. While this lowers financial stability risk, will more of such regulations hinder fintech advancements? Where’s the middle ground? In their opinion, there is much that Singapore and China can learn from each other in the regulation of emerging technologies.
A couple wearing face masks share a laugh as they take pictures a bridge at the Hou Hai lake in Beijing on 16 October 2020. (Nicolas Asfouri/AFP)

Love in the cloud: China’s emerging livestream matchmaking industry

It was probably a matter of time before online entrepreneurs found a way to meet the perennial demand for love and marriage in China — through livestream matchmaking. From the looks of it, it is a match made in heaven. Over the past two years, scores of people, particularly in smaller cities and towns, have used “cloud dating” mobile live-streaming apps to chat with prospective matches in real time. Seeing opportunity, various platforms like Alibaba, Tencent, Momo, Huya TV, Inke, and Huajiao have entered the fray. Covid-19 has made it even more common to seek out remote means of having one’s head in the clouds, basking in the novelty of new love. Zaobao journalist Zeng Shi has the details.
This picture taken on 28 October 2020 shows a customer (right) scanning a QR payment code (centre in green) to pay at a restaurant in Beijing, China. (Nicolas Asfouri/AFP)

China will continue to dominate the e-commerce landscape in 2021

China will continue to flex its e-commerce muscles in 2021, predicts Associate Professor Chu Junhong from the NUS Business School. Expect a strong dose of cross-border e-commerce, live-streaming e-commerce, and more eye-catching short videos that promise great returns on “retailtainment”.
This photo taken early on October 23, 2020 shows Silvia Rivera (in background) attending a live-streaming event from a studio in Shanghai to offer products on an Aliexpress channel in Spain. By some estimates, livestream shopping is a near US$70 billion industry inside China. (Hector Retamal/AFP)

How China is leading in the live-streaming e-commerce world

Live-streaming e-commerce is fast gaining currency in China, not least when tapping on short video and “we-media” platforms. Supporting the “internet celebrities” who promote endless products through this avenue are a support network backed by AI and big data. Technology specialist Yin Ruizhi looks at how this new model is changing the face of retail.