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Analyst Zheng Weibin says that while the China-US competition is a tussle for power that some would compare to the Cold War of the 20th century, digital technology is making all the difference in the 21st century. Today's competition is taking place amid changing definitions of national strength and economic power, and China needs to catch up in terms of growing its digital economy and meeting the challenges that come with it.

In a study on consumers’ shopping patterns across provinces in China, Associate Professor Chu Junhong of NUS Business School and Professor Pradeep K. Chintagunta of the Chicago Booth School of Business found that Chinese buyers tend to buy from sellers they trust, and a seller’s location forms a large part of that equation.

According to a pulse survey conducted by Standard Chartered, Chinese companies are attracted to ASEAN’s large market and potential as regional production bases. External factors such as the Regional Comprehensive Economic Agreement (RCEP) could also funnel greater Chinese investment into the region in areas such as high-value manufacturing, energy and digital services.

The demographic dividend and rapidly developing e-commerce ecosystem in Southeast Asia has attracted many Chinese e-commerce companies to make their foray to the region. However, problems from language to payment and logistics persist. To cope with the changing landscape, platforms are also providing merchants with one-stop services to facilitate their cross-border businesses. In the e-commerce world where everything changes rapidly, platforms and merchants must adapt quickly to survive. 

Chen Lifang, corporate senior vice-president and board director, Huawei, delivered a speech at the St. Gallen Symposium themed ‘Truth Matters’. At the virtual session, she stressed that standards and regulations will be two of the most visible embodiments of the interaction between society and technology in a highly digitalised, post-pandemic world. Common regulations and standards will build trust; the more widely they are adopted, the more effective they will be. Is it possible for humankind to build trust across cyberspace and international borders, and work together to construct the future global economy? 

In the aftermath of the US$2.8 billion fine imposed on Alibaba, Xu Le reflects that for Alibaba, this is no big shakes as the amount makes up only a small percentage of its revenue. However, in the larger scheme of things, industry players will be saying goodbye to unregulated days of wild growth. They too will have to grit their teeth and get ready for fiercer domestic competition amid a harsh external environment. Will this mean a slowdown in China's tech and internet sectors?

Alibaba’s name is said to be inspired by the song that goes: “Ali Baba is a happy youth!” But after the halting of Ant Group’s listing and being slapped with a 18.228 billion RMB fine, Alibaba faces headwinds. In their anti-monopoly efforts, the authorities seem to have no qualms about making an example of companies like Alibaba. Zaobao correspondent Yu Zeyuan analyses the situation.

Recently, Xinba, one of the biggest influencers on Chinese streaming platform Kuaishou, sold US$300 million worth of goods in a single 12-hour session, in a testament to the enormous pull of live-streaming e-commerce. Research shows that crowdfunded products often rely on live-streaming e-commerce to convey product information and funnel early adopters. Such an ecosystem creates a positive business environment for producing and marketing new products. Technology specialist Yin Ruizhi looks at how live-streaming e-commerce is fast giving China the edge in product innovation.

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.