Technology

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? 

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 intense technological competition with the US, China is more determined than ever to be self-reliant in core frontier technologies. It has rolled out various plans but several obstacles such as financial resources stand in the way. Is it a case of more haste, less speed?

In the development of 1G to 4G technology, the US, Europe and Japan took turns to dominate. When it comes to 5G, China says that it has built the largest 5G network globally with other 718,000 5G base stations throughout the country, which is at least ten times the network in the US. China is also strong in 5G chip design and is making inroads in setting global standards for wireless networks. Is China getting a leg up in the tech race? 

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.

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”.

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.

Adherence to IP protection and the rule of law are common and valid concerns of US and Western practitioners doing business in China. Commentator Deng Qingbo says that in that light, China’s recent stated focus on technological innovation should be cheered, as science, rational thinking, abiding by the rules, and even democracy often go together. At the same time, the Chinese need to better communicate their desire to share the fruits of their technological advancements with the rest of the world.