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 livestreaming e-commerce. Research shows that crowdfunded products often rely on livestreaming 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.
Commercialisation
Technology
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.
Society
How do urban planners go about their work and what contributions do they make to the building of liveable cities? Ke Huanzhang, former head of the Beijing Academy of Urban Planning and Design, is all for the seamless melding of a good ecological environment, living facilities, jobs and public services in a city. Liu Thai Ker, the former chief architect and CEO of Singapore’s Housing Development Board, says a good planner needs to have the heart of a humanist, the brain of a scientist, and the eye of an artist. Tan Ying Zhen speaks to the veteran urban planners as part of a series of fireside chats put together to commemorate the 30th anniversary of diplomatic relations between Singapore and China.
Economy
Shenzhen has grown rapidly over the past 40 years, such that its GDP reached a massive 2.7 trillion RMB in 2019. Just this month, the Chinese government released a five-year plan to make Shenzhen a “pilot demonstration area for socialism with Chinese characteristics”. Amid plans for reforms and new initiatives, EAI academic Yu Hong asks: How much autonomy will Shenzhen have, and what challenges will it face?
Economy
Media commentator Cai Enze frowns on the beggar-thy-neighbour approach of improving one’s business at a rival’s expense. In his view, big names in China’s internet market — Baidu, Alibaba, Tencent, and JD.com (known as BATJ) — should practise more openness and cooperation rather than rivalry and mutual blocks.
Culture
Criticisms have been levelled at the Palace Museum’s heavy use of the institution’s cultural capital for commercial gains. Museum officials rationalise that government funding alone is not enough to keep them going; tasteful product lines and festive promotions are just some of their means of survival.