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It’s all about the money

Is the PBoC’s new digital currency a threat to Alipay and WeChat Pay?
Jul 3, 2020 (WiC 502)

Despite all the talk of China’s achievements in next-generation technology, there is still a startling digital divide in parts of its domestic economy. There was another reminder of that last month when a man from Anhui was stopped from ...

Chinese chipmakers still struggling, despite stockmarket fanfare
Jul 3, 2020 (WiC 502)

A lot has changed since China’s chip manufacturing giant, SMIC (Semiconductor Manufacturing International Corp) completed its dual listing on the Hong Kong and New York stock exchanges in March 2004. For starters, the sophistication of the ...

White House confidential

Bolton’s book reveals Trump called Xi the “greatest Chinese leader in 300 years”
Jul 3, 2020 (WiC 502)

One surprising thing about John Bolton’s new ‘tell-all’ book about the Trump administration (from which he resigned last September) is that the first nine chapters of The Room Where It Happened barely mention China at all. In ...

Retail redemption

Can Gome’s Huang make up for his lost decade?
Jul 3, 2020 (WiC 502)

In the year 2008 Singles’ Day was merely an anti-Valentine’s Day celebration, commemorated by a cult following of college students and young professionals. Back then Alibaba was better known as a business-to-business (B2B) marketplace, ...

A tale of two cities

Local governments at loggerheads over criminal status of games distributor
Jul 3, 2020 (WiC 502)

In 2017 BBC correspondent John Sudworth carried out an experiment with the local police in Guiyang and found that they took just seven minutes to identify him, locate him and then pick him up as he strolled the city’s streets. Supported by ...

Shanghai tweaks its benchmark to boost its sluggish performance
Jul 3, 2020 (WiC 502)

Whether a stockmarket index is considered a ‘benchmark’ or not often comes down to how often it gets mentioned in the media. But the Shanghai Composite Index (SHCOMP) in China is classed as one simply because it has been around the ...

The dash for cash

Evergrande reacts quickly to Moody’s downgrade
Jul 3, 2020 (WiC 502)

Alarge house in central Beijing’s Chaoyang district went up for sale in late May on Alibaba’s auction platform Paimai. The house, which measured 305 square metres (or around 3,300 square feet), had a bank valuation of Rmb14.2 million ($2.2 ...

China’s rival to GPS becomes an investment star
Jul 3, 2020 (WiC 502)

Two incidents in the 1990s are said to have convinced the Chinese government of the necessity of developing their own satellite positioning system. In 1996 when the People’s Liberation Army was staging a military exercise during a period of ...

India bans Chinese apps including TikTok
Jul 3, 2020 (WiC 502)

The Chinese video sharing app TikTok almost seems made for India – a country where Bollywood films still capture the public imagination and literacy rates are often low. The app says 120 million Indians use it every month – including some ...

Disney shutters its tutoring business in China
Jul 3, 2020 (WiC 502)

Between 2012 to 2016, the market for English tutoring in China doubled to Rmb85 billion ($12 billion), says Frost & Sullivan, a market research firm. It is set to swell to Rmb240 billion in 2021. However, interest in studying in traditional ...

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