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Reining in the tech tycoons

Recent moves by Beijing indicate tougher times for China’s internet giants
Nov 20, 2020 (WiC 519)

According to the Confucian value system the social standing of businesspeople, no matter how wealthy, was below that of farmers and artisans. The most esteemed social group – apart from those with royal connections, of course – were the ...

Trading up together

How significant is Asia’s new trade deal, the RCEP?
Nov 20, 2020 (WiC 519)

The Regional Comprehensive Economic Partnership, or RCEP, has been billed this week as the world’s biggest ever trade deal. Signed last Sunday between 15 nations in the Asia-Pacific, it needs ratification at national level before coming into ...

Sellers’ market

A TV drama about e-commerce livestreaming proves a hit with audiences
Nov 20, 2020 (WiC 519)

Despite his spotty entrepreneurial track record, Luo Yonghao, the man behind a slew of defunct businesses ranging from handset maker Smartisan to a venture that sells synthetic shark skin, seems to have finally struck gold. Last week, ...

Medical precision

RemeGen bags $515 million in one of world’s largest biotech IPOs
Nov 20, 2020 (WiC 519)

Zhejiang-born Fang Jianmin has only one idol: Bob Langer, the prolific chemical engineer who owns more than 1,000 patents, and has spawned nearly 40 companies in the medical field through his lab at the Massachusetts Institute of Technology. ...

Chinese lessons

Tech powers growth of Mandarin tuition firm
Nov 20, 2020 (WiC 519)

The Chinese idiom yan zhi you wu means there should be substance in people’s words. In the commercial context that lesson has underpinned the business model of Finance Mandarin over the past two decades. The Hong Kong-based firm ...

A matter of Honor

Huawei opts to sells a smartphone brand
Nov 20, 2020 (WiC 519)

Zhu Xinli, the founder of Huiyuan Juice, once argued that there’s no place for sentiment in disposing of companies, which should be “raised as a son but sold like a pig”. But for the embattled telecoms giant Huawei, the decision to sell ...

Carrying the load

China’s cargo carriers eye freight rate profits
Nov 20, 2020 (WiC 519)

In more typical times Cathay Pacific’s cargo numbers for October would be chastening. A drop of nearly 38% in tonnage terms versus the same period last year is pretty catastrophic, in fact. But perhaps the Hong Kong carrier could be forgiven ...

Iconic console firm files for bankruptcy
Nov 20, 2020 (WiC 519)

When older gamers in the Western world think back to the industry’s origins, there’s often an American company at the forefront: Atari, with its legendary games such as Pong, Pac-Man and Space Invaders. When their ...

Discipline panel

Anti-graft probe takes shine off JA Solar
Nov 20, 2020 (WiC 519)

Knowledge is the beginning of practice; doing is the completion of knowing.” So said the 15th-century neo-Confucian philosopher Wang Yangming. It’s also an apt metaphor for investigators at China’s anti-corruption body, who are trying to ...

Issues at heart

New procurement process to drive down medical cost
Nov 20, 2020 (WiC 519)

One of the oft cited reasons for why mainland Chinese save so much is the high cost of medical care. Because families could be landed with hefty hospital bills due to accidents or illness, they have traditionally consumed less, preferring to ...

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