The new space race has begun, this time with American and Chinese commercial space companies competing to become the global aerospace industry leader. While these aerospace companies may be looking at the stars, they do not necessarily have their heads in the clouds, as new innovations are benefitting day-to-day life on Earth and increasing public enthusiasm for aerospace technology. While this is a strategic competition for both sides, the rise of privately-owned space companies will ultimately benefit everyone.
The world around us is driven by commerce. E-commerce has enjoyed particular success in modern society and accounts for over 50% of China’s total retail sales. Online auctions, a maturing segment of the e-commerce industry, is discovering newfound adoption by young wealthier consumers bidding in niche markets like art and nonperforming loans. With bad debt looming on the horizon, this segment may be poised for explosive growth.
China’s agricultural production is inefficient and, in many ways, outdated. Facing growing issues like urbanization and an aging population, China is staring down at major food security issues. Yet, technology may be the answer as farmers in China begin to work with tech giants to increase farm productivity and crop yields.
China’s preferential policy has cultivated a hot bed for blockchain innovation. As policymakers name blockchain as a key driver of the nation’s future economy, domestic SMEs and MNCs have the opportunity to scale along with global adoption of this emerging technology behind some of the greatest economic and social innovations of our generation.
China is massively invested in the digital transformation of its cities. With the nation’s top-down approach towards urban development, it has been able to efficiently rally its industries and resources to support its national goal of developing smart cities. By use of public-private partnerships and the promotion of targeted technological innovation, China has developed smart city infrastructure that has already been applied to many of its major metropolises and their industries.
China’s e-commerce livestreaming industry reached a value of over US$165 million in 2020. As more firms turn to livestreamers, the market has become overcrowded and ROI has been slipping. To remain competitive, brands must be alert of the latest developments. This article points out the top five trends that market players should know if they want to maximize their investment in China’s e-commerce livestreaming in 2021 and beyond.
Virtual reality is quickly becoming the technology of the future. China has highlighted the VR industry as an important sector within its innovation strategy, and it is looking to position itself as a global leader in the technology’s innovation, adoption, and production.
China has a love-hate relationship with crypto. It loves the technology but hates the illicit activity. While blockchain will play a vital role as a strategic technology highlighted in national development goals, its ties to cryptocurrency challenge industry development. This has led to harsher regulation of the cryptocurrency space in the hopes that, by separating cryptocurrency and blockchain technology, policymakers can hasten the maturity of the blockchain industry without fear of the social or financial instability associated with crypto.
Central Bank Digital Currencies (“CBDCs”) could well be one of the most profound developments of the 21st century. This article takes a look at the impact, motivations, and policy choices available to Central Banks and contrasts them with how China’s PBOC is proceeding.
Semiconductor chips are at the crux of the US-China technology competition, and export controls from the ongoing trade war have impeded China’s semiconductor ambitions. Among other measures, China has been establishing integrated circuit schools, microelectronic colleges, and related programs to train qualified candidates for the semiconductor industry, all of which are backed by national domestic policy efforts. However, the efficacy of these initiatives to meaningfully contribute to China’s long-term self-sufficiency efforts is yet to be proven.
It’s no more the Great Leap Forward, but instead the “Robotic Leap Forward.” Automation at the industrial level is now expanding to the consumer level in China, and Beijing is looking to use investment in customer service robots as part of its push to market the nation as a global leader in technology and innovation.
The US-China trade war, combined with stringent sanctions restricting Beijing’s access to a majority of the chip market, has impaired China’s semiconductor aspirations. As a result, Chinese companies have employed various means to poach top semiconductor talent from Taiwan in order to achieve the technological self-sufficiency they seek. Experienced and skilled Taiwanese semiconductor, or integrated circuit (IC) design engineers, could be the key to Chinese chip dominance. However, it could also lead to a significant talent deficit in Taiwan’s semiconductor industry.
In 2015, President Xi committed to eradicating rural poverty by the end of 2020, and despite the economic distress brought on by the pandemic, China declared its momentous victory. While a mix of state policy and private sector support were key to the campaign’s success, digital technologies such as e-commerce played a pivotal role in improving the quality of life in rural areas and have brought China one step closer to realizing a moderately prosperous society.
Over the last decade, Beijing has spent billions of dollars developing AI technologies to become a global leader in autonomous vehicles. If domestic tech giants can lower the marginal cost of AVs, offer a safe and secure form of autonomous transportation, and secure full-scale adoption within the world’s largest consumer market, China will revolutionize the automotive industry and earn trillions in revenues.
US sanctions designed to limit China’s access to cutting edge semiconductor technology have challenged Beijing’s ambition for technological hegemony. Even with significant state-backed investment over the past 30 years, China’s semiconductor industry still lacks the capabilities necessary to compete in the global marketplace. The current economic and political environment poses an ultimatum for the country: innovate or fall behind.