Since its inception in 1980, homegrown massage chair specialist OSIM International has striven to gain and maintain its foothold as one of the world’s leading wellness brands. China, with its vast market, is an important piece of the puzzle. OSIM’s presence in China for 28 years is not without its travails, but through constant innovation and a willingness to adapt to change, it continues to find a way to thrive amid the competition. CEO Charlie Teo shares the OSIM experience.
Commentator David Ng explores the changes that are happening in China with developments in technology that allow vast changes in business models, from traditional offline transactions to online business, and “new retail”, which combines the two. How will the Chinese economy grow under these forces?
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.
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.
News of young employees dying from overwork at major Chinese tech companies are not unheard of. Last December, a 22-year-old female employee at e-commerce giant Pinduoduo died after working long hours past midnight. China's intense efforts at increasing national competences in new and advanced technologies have seen it moving up the value chain from a low-cost manufacturer to an innovator in science and technology. But is the “996 culture” of working from 9 am to 9 pm, six days a week, feasible and sustainable?
Taiwan’s semiconductor industry has been making waves not just domestically, but internationally. Zaobao correspondent Woon Wei Jong examines why for Taiwan, strategically and economically, possessing advanced semiconductor technology is as good as striking gold.
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.
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.
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.