E-commerce

Amid tightening Covid-19 controls, disrupted logistics and e-commerce user base plateauing in 2020, Chinese e-commerce companies are facing tightened scrutiny and slowing growth in revenue. Furthermore, advertising — the most important source of revenue for internet companies — has been weak for more than a year. This leads Chinese tech companies to turn their attention overseas, and those without an overseas development plan will be left behind. Caixin journalists tell us more.

Technology expert Yin Ruizhi delves into the differences between traditional e-commerce platforms such as Alibaba and JD, and “interest-based” platforms such as Douyin and Kuaishou, and explores the possibilities for what e-commerce might look like in the future, as both types of platforms operate alongside each other.

Former journalist Jessie Tan muses over the phenomenon of those in need transitioning from begging on the streets to selling goods on Douyin. While the poor or disabled have been given a more dignified and effective source of income, this is just one aspect of the good that comes with social media and technology.

In the sixth of a seven-part Lianhe Zaobao-Business Times series on China and ASEAN, we look at how brands from China are going international, particularly among Gen Z consumers in Southeast Asia.

In the second of a seven-part Lianhe Zaobao-Business Times series on China and ASEAN, Zaobao senior correspondent Chew Boon Leong looks at the strategies adopted and challenges faced by China’s tech companies in Southeast Asia.

As Shanghai battles with its worst Covid-19 outbreak, stringent anti-epidemic measures confining almost everyone at home have ground the city to a halt. It is believed that if Shanghai is not able to resume production by May, industries with supply chains in the area will not be able to function, and the automotive industry will be hit the hardest.

For New Oriental Education and Technology Group Inc. founder Michael Yu Minhong, the year 2021 has been a rollercoaster ride of losses amid a crackdown on the off-campus tutoring sector. The company seems to be bouncing back with livestreaming farm sales, but is this all just bravado and a further move away from the company’s origins as an educatonal provider assisting those preparing to study overseas? Yu himself has lamented in the past that the minute the company listed on the NYSE, it went off course. In the aftermath of the chaos, will it be able to recentre itself, or will it continue being swept by the tide?

With many apps in China to choose from to make quick and affordable purchases, Jessie Tan finds that her previous environmentally conscious self who used to forgo plastic takeout containers and seek out pre-loved goods has succumbed somewhat to easy consumerism. A guilty conscience pricks at her, but the conveniences of daily life in China are hard to give up. Even as China commits to carbon emission reductions, aspirations for a better, easier life has continued to rise. How can China enable people to have a life of comfort without leaving a negative impact on the environment?

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.