Monday, March 27, 2017

Countering China's narrative on its globalization - Howard French


Journalist Howard French's book Everything Under the Heavens: How the Past Helps Shape China's Push for Global Power is reviewed by the Globe&Mail. Key argument: French counters the Chinese narrative of a benevolent force, unlike the greedy Western colonizators. And on Trump: “When two emperors appear simultaneously, one must be destroyed.”


The Globe&Mail:
French’s account, not surprisingly, runs counter to the official Chinese narrative. Admiral Zheng He, a Muslim eunuch who led a Chinese armada to Southeast Asia, Sri Lanka and the east coast of Africa, is lauded in China as an unconventional explorer. Unlike his Western counterparts, whose voyages were marked by greed, violence and conquest, Zheng, the story goes, was an ambassador of Chinese benevolence. The reality, as French reminds us, is that Zheng’s massive ships were actually troop carriers, whose menacing arrival conveyed a distinctly different message about the nature of the Chinese deal on offer. 
Modern China continues to proclaim this theme of benevolent internationalism, something French challenges with numerous examples. The most chilling is his account of the Chinese navy’s 1988 massacre of flag-waving Vietnamese troops on the disputed Johnson Reef in the South China Sea. The Vietnamese protest is captured on a grainy YouTube video that is suddenly interrupted by Chinese naval gunfire. When the smoke clears, the Vietnamese are, shockingly, gone. It’s worth noting this happened just a year before the Chinese military perpetrated another massacre, this time of student protesters in Tiananmen Square. Nei luan, wai huan
China is clearly in the midst of a new period of exuberance and expansion, and, as French makes clear, this inevitably involves friction with the two powers, Japan and the United States, that have come to dominate its neighbourhood over the past 200 years.
In recent decades, Japan, seduced by the lure of the China market and by the friendly pragmatism of previous (and needier) Chinese leaders, played down territorial disputes as it helped to rebuild China. The tables have since turned. All things Japanese are now demonized by China, which evokes past Japanese aggression as it steadily encroaches on the rocky outcroppings that mark the beginning of the Japanese archipelago. 
Even more worrisome is China’s growing rivalry with its most formidable adversary, the United States. China is rapidly acquiring the weapons and technology to make it highly risky for the U.S. Navy to operate in the western Pacific, an ambition furthered by China’s construction of military airstrips on artificial islands in the South China Sea. French ominously quotes another Chinese aphorism: “When two emperors appear simultaneously, one must be destroyed.”
More in the Globe&Mail.

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Xi Jinping as a guardian of Buddhism - Ian Johnson

Ian Johnson
Journalist Ian Johnson will soon publish his groundbreaking book The Souls of China: The Return of Religion After Mao. For the New York Times he selected a special story, on how president Xi Jinping became the guardian of Buddhism and other traditional believes, and today uses it, not as an object for repression, but as a part of China's globalization strategy.

Ian Johnson:
In 1982, two men arrived in this dusty provincial town. One was Shi Youming, a Buddhist monk who was taking up a post in the ruins of one of Zhengding’s legendary temples. The other was Xi Jinping, the 29-year-old son of a top Communist Party official putting in a mandatory stint in the provinces as a bureaucrat in the government he would eventually lead. 
The two forged an unusual alliance that resonates today. With Mr. Xi’s backing, Youming, who like most Buddhist monks preferred to go by one name, rebuilt the city’s Linji Temple, the birthplace of one of the best-known schools of Buddhism. Even after Mr. Xi was transferred, he regularly visited Youming in Zhengding and sent officials there to study the partnership between the party and religion. 
Mr. Xi’s early encounters with religious life give insight into a man who has run China with a firmer hand than any other leader since Mao Zedong. Although he is best known abroad for his efforts to expand China’s territorial reach in the South China Sea or his high-profile campaign against corruption, at home the president is engineering a remarkable about-face for the Communist Party: an effort to rejuvenate China’s spiritual life through an embrace of some religions. 
As an organization that has tried to squelch religion, the Communist Party under Mr. Xi is now backing it in ways that echo the approach of strongmen like Vladimir V. Putin of Russia, who use faith to legitimize their rule. Faced with growing social tensions and slowing economic growth, the government is turning to religion to bolster its hold on power.
Mr. Xi, by making China a guardian of a major faith like Buddhism, also sees religion as a way to promote China’s position in a world still dominated by the United States, which he tentatively plans to visit for a meeting with President Trump early next month.
Indeed, one of Mr. Xi’s signature lines is, “If the people have faith, the nation has hope, and the country has strength.”...
I’ve found that Mr. Xi’s embrace of faith is incredibly popular among most Chinese. While Christians may cringe at his views, many more others see his support for traditional faiths as positive — a re-creation of the imperial Chinese state’s support for certain faiths and belief systems. Far from being an anomaly in Mr. Xi’s rise, his stint in Zhengding is most likely something else: a template for the mixing of faith and politics — a reimagining of the political-religious state that once ruled China.
Much more in the New York Times.

One-child policy helped female billionaires - Rupert Hoogewerf

Add caption
China is leading the ranks of female billionaires. Rupert Hoogewerf, chief researcher of the Hurun China Rich List gives a few reasons why women are doing better on his list. One of them is the one-child policy, he tells Caixin.

Caixin:
Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, said one reason so many women strike it rich on the Chinese mainland is the traditional family structure. "The one-child policy coupled with traditional child care, whereby grandparents often play a much larger role in bringing up children than in developed countries," has given women more space to pursue their ambitions, he said... 
According to Hoogewerf, one challenge in calculating the wealth of female billionaires is the difficulty in distinguishing between the wealth that belongs to a woman and her husband, especially in the case of women who had co-founded a business with a husband. 
An example of this is Zhou Hongwen, 46, who co-founded Tomorrow Group with Xiao Jianhua. The conglomerate has investments in real estate, insurance, banking, coal, cement and rare earth minerals, and the couple is estimated to be worth $5.5 billion. Although Zhou was instrumental in the company’s early decision to invest in the Inner Mongolia region, its stock exchange filings do not differentiate who owns what, making it difficult to split the couple’s wealth, Hoogewerf said. And the recent disappearance of Xiao from the couple’s apartment in Hong Kong, presumably to help Chinese authorities with an ongoing corruption inquiry, has put Zhou in the spotlight and may affect her fortunes.
Much more in Caixin.

Rupert Hoogewerf is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more stories by Rupert Hoogewerf? Do check out this list.  

Friday, March 24, 2017

Zhang Ying leads RSM Huawei partnership focus on education

Zhang Ying
The Rotterdam School of Management(RSM) and telecom giant Huawei have signed a partnership to deepen their cooperation on the digitalization of the transformation of education. RSM professor Zhang Ying will lead the new partnership, according to the China Daily.

China Daily:
The project, headed by Zhang Ying, associate dean of China Business and Relations at RSM, represents a collaboration between the industry and the education sectors in China and Europe, helping industries, education institutes and research bodies move into the era of digital transformation. 
Both parties aim to facilitate knowledge sharing between technology, innovation, business development and education in order to add value to the local social-economic community and academic-practice by means of joint research, China-EU relevant business relationships, and applied projects. 
Wonder Wang, CEO of Huawei Technologies Netherlands, said Huawei is committed to investing in Europe, and the MOU is part of the company's mission to aid in talent development across Europe. 
"The goal is to achieve local employment to contribute to the European economy and serve European industries for generations to come," said Wang.
More in the China Daily.

Zhang Ying is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more experts on innovation at the China Speakers Bureau? Do check out this list.  

China's emerging LGBT consumers - Jeffrey Towson

Jeffrey Towson
Disney's movie Beauty and the Beast has not been released in Malaysia for a overtly gay scene. In China it was not problem, triggering off much attention also from state-owned media. Other countries have already discovered the LGBT community as an attractive group of consumers, and Beida business professor Jeffrey Towson discusses at his weblog this emerging community in China.

Jeffrey Towson:
China has a huge gay and lesbian population and a growing LGBT (ie., pink) economy. Both of which have been emerging in the recent years. Estimates put China’s LGBT population at likely 40-100M. Not only is this the largest LGBT population in the world, it is actually larger than the entire population of Malaysia (approx 31M). 
China is the world’s most populous nation so it stands to reason it has, or will have, the largest gay, lesbian and transgender population. Definitely larger than the population of Malaysia and probably larger than the populations of the UK and Germany. And in the last 2-3 years, this population has been increasingly visible. For example, in May 2016, China’s second annual LGBT job fair was held. It attracted 34 companies and over 500 job seekers. 
Companies participating included Morgan Stanley, Starbucks, Citi, 3M and Didi Chuxing. Also in 2016, Taobao and Blued, the largest Chinese gay dating app, held an online content to choose 6 same-sex couples to fly to West Hollywood to get married. Over 2,000 couples sent in videos for the contest. 
There is also increasing discussion about the emergence of China’s “pink economy”. One area within this that is getting significant attention is tourism. This demographic typically spends more time and money than heterosexual groups on lesiure (tourism, entertainment) and personal image building (gym, beauty, physical therapy). 
Another current area of interest in China’s LGBT economy is dating apps. Market leader Blued now has over 15M members in China alone, making it the largest gay dating service in the world. And it was only founded in 2012. And while Grindr is probably the world’s most famous gay dating app, this is actually also Chinese, having been purchased by Beijing Kunlun for $93M. Note: Grindr has 10M registered users compared to Blued’s 15M.
More of Jeffrey Towson's weblog.

Jeffrey Towson is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

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Wednesday, March 22, 2017

The depth and breadth of Zhang Lijia's Lotus - review

Zhang Lijia
The Asian Review of Books puts author and journalist Zhang Lijia's book Lotus: A Novel in perspective in their review by Glyn Ford of the widely acclaimed work. "In the end the women are stronger than the men," Ford concludes.

The Asian Review of Books:
Zhang Lijia has moved from fact to fiction. After her 2008 "Socialism Is Great!": A Worker's Memoir of the New Chinamapping her late blooming from monolingual willful factory worker to bilingual provocateur, we have in Lotus a first novel detailing the life and loves, trials and tribulations of a group of young migrant women sucked into South China’s sex industry. 
The distance traveled between the two books is less than might appear. “Socialism is Great!” —the exclamation mark is crucial—was an autobiographical account of the author’s “coming of age” yet Lotus retains strong biographical threads. A deathbed admission revealed a grandmother sold to a brothel as a young prostitute in the 1930s served as the germ for the novel. 
Zhang’s foundation was the academic work of two US feminists on the new China sex trade, built on by meeting Lanlan, a former prostitute and then NGO worker. Zhang volunteered herself for the same NGO, Tianjin Xingai House, distributing condoms to working girls in the City’s massage parlors and hair saloons. Lanolin is part of Lotus. But the whole novel is peopled with spirits from the author’s past. Hu Binbing, the failed and divorced businessman of the book, who has turned to photojournalism, is the alter ego of the late Zhao Tielin, a photographer who embedded himself amongst the prostitutes of the Hainan slums. The transformation of autodidact village boy to urban intellectual recapitulates the metamorphosis of Zhang’s rocket factory mentor almost two generations earlier. These characters provide a depth to the novel. 
For breadth, there is the gamut of China’s social concerns, internal immigration and corruption, materialism and the collapse of community. Lotus—and her friend Little Red—are enticed away from the their rural fastness by Hua, one of the first village girls to flea country for Shenzhen’s urban maw. The two young girls succumb to a seductive vision far from the realities of the mind-numbing robotic work they find in Workshop’s 7 and 6 of their shoe factory. Little Red’s dream is extinguished after she and her fellow workers in Workshop 6 are burnt to death behind its padlocked doors. Company cash arrests justice.
More in the Asian Review of Books.

Zhang Lijia is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers' request form.

  Are you interested in more stories by Zhang Lijia? Do check this list.

Tuesday, March 21, 2017

Ian Johnson wins Shorenstein Journalism Award

Ian Johnson
Veteran China foreign correspondent and Pulitzer Price winner Ian Johnson has won the prestigious Shorenstein Journalism Award for 2016, the organization announced. Ian Johnson is currently working for the New York Times and the New York Review of Books. In a few weeks time his book The Souls of China: The Return of Religion After Mao will be available.

From the announcement:
Ian Johnson, a veteran journalist with a focus on Chinese society, religion and history, is the 2016 recipient of the Shorenstein Journalism Award. The award, given annually by the Walter H. Shorenstein Asia-Pacific Research Center, is conferred to a journalist who produces outstanding reporting on Asia and has contributed to greater understanding of the complexities of Asia. He will deliver a keynote speech and participate in a panel discussion on May 1, 2017, at Stanford. 
“Ian Johnson is one of those rare writers who has not only watched China’s evolution over the long haul, but who is also deeply steeped in the culture and politic of both Europe and the United States as well,” said Orville Schell, the Arthur Ross Director at the Asia Society of New York’s Center on U.S.-China Relations and jury member for the award. “This cross-cultural grounding has imbued his work on China with a humanistic core that, because it is always implicit rather than explicit, is all the more persuasive.” 
Ian Buruma, the Paul W. Williams Professor of Democracy, Human Rights, and Journalism at Bard College and jury member for the award, added further praise, “Ian Johnson is one of the finest journalists in the English language. He writes about China with extraordinary insight, deep historical knowledge and a critical spirit tempered by rare human sympathy. His work on China is further enriched by wider interests, such as the problems of Islamist extremism in the West, specifically Germany, where he lives when he is not writing from China.”
More from the annnoucement.

Ian Johnson is a speaker at the China Speakers Bureau. Do you neeed him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you interested in more stories by Ian Johnson? Do check out this list.

E-publishers better than print for authors - Shaun Rein

Shaun Rein
Online reading is developing fast into a major industry in China and China Reading of Tencent is heading for a huge IPO in Hong Kong later this year. For authors, e-publishing has major advantages compared to print publishing, says bestseller author Shaun Rein to Knowledge CKGSB.

Knowledge CKGSB
Social network owners also see readers as a prime investment opportunity. For instance, the owner of China Reading, Tencent media group, recently announced plans to launch a $600-800 million IPO for China Reading in Hong Kong later this year, according to media reports. 
Shaun Rein, managing director of the China Market Research Group in Shanghai, is bullish on the prospects of that platform largely because of the advantages that online publication gives writers. 
“There are fewer restrictions for online authors than in the print world,” Rein explains. “It’s also more difficult and slower to publish in a physical format because you have to work with publishers… They’re often state-owned, not market-oriented, and slow and lumbering. It can also get very costly to work with a publisher, so many authors prefer to publish their work quickly online where there’s fewer restrictions so they can get their content to their loyal readers faster.”
More at Knowledge CKGSB.

Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more experts on innovation at the China Speakers Bureau? Do check out this list.  

How hype and greed destroy the bike-renting business - Jeffrey Towson

Jeffrey Towson
As long as funds are flooding the bike-renting business, the dance will go on. But, warns Beida business professor Jeffrey Towson at his website, when the music stops, the dancing will be over. Consumers might be the winners, as long as the music plays.

Jeffrey Towson:
Across the board, what we are seeing is non-economic behavior and a race for scale that is fueled by hype and enabled by easy access to money. This is warping and distorting what is an ultimately very nice and popular consumer bicycle rental service. But the ‘music is playing’ and all the companies ‘have to dance’ – or leave the market. This is likely to end badly for everyone, except for the consumers and bike thieves. 
The biggest part of this problem is the drive for scale. The leading companies are all trying to get big and capture market share, with Mobike reportedly having over 70 percent of the China market, measured both by the number of bikes and number of rides taken. 
However, the problem with this is there doesn’t appear to be any big advantages to scale. It doesn’t create a superior service like in taxi ride-sharing (more drivers means shorter waiting times). It doesn’t get a network effect. It doesn’t create a much lower cost structure per unit. And it ultimately doesn’t stop any small company from spending RMB 200,000 and deploying 1,000 bikes in a particular neighborhood. 
The business model followed by so many bicycle-sharing companies just doesn’t appear (yet) to have any competitive advantage. The market may well consolidate, but there is no reason yet to think the business itself will generate any type of exceptional profitability. The race for scale looks more like a race for a big sale or IPO.
More at Jeffrey Towson's website.

Jeffrey Towson is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more experts to deal with your China risk at the China Speakers Bureau? Do check out this list.    

Monday, March 20, 2017

Where Xi Jinping has been failing - Ian Johnson

Ian Johnson
China annual political meetings passed without any great upheaval, but not all is well for president Xi Jinping, writes veteran journalist Ian Johnson, author of The Souls of China: The Return of Religion After Mao in the New York Review of Book. No legal reforms, no successor, and then there is the economy.

Ian Johnson:
Equally pressing is the need for significant economic reforms. State enterprises suck in valuable capital from the banking system, which continues to be state-run, to the detriment of more dynamic private enterprises. Urbanization has taken off, but is based on expropriating land at below-market prices. 
Farmers still don’t own their land or have meaningful land transfer rights. Rural residents still have a hard time getting full rights in urban areas. And of course censorship has become so overwhelming that even constructive criticism is increasingly marginalized, causing many moderates to lose hope that their voices can be heard. 
The complete failure to reform the economy means that the government’s argument about low growth—that China’s economy has slowed only temporarily while the economy restructures—appears less and less plausible. Instead, what could be happening is that the country’s inability to reform further is sending it into the feared middle-income trap—a country that cannot take the next step to become a truly prosperous society. 
Will any of this matter to Xi? His popularity could fall if the economy continues to stagnate, while property prices continue to remain far beyond the reach of ordinary people. But leaders like Putin have remained popular despite far worse economic situations thanks to overseas adventures and blaming foreigners for the country’s woes. 
But what is clear is that Xi’s image as a strong and capable leader seems less and less believable. As the country enters its political season and Xi’s reappointment approaches, he begins to look different. Instead of being the transformer China needed, he might yet prove to be little more than a vigorous custodian of the status quo.
More at the New York Review of Books.

Ian Johnson is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more political experts at the China Speakers Bureau? Do check out this list.

Life of a prostitute - Zhang Lijia

Zhang Lijia
Zhang Lijia's book Lotus: A Novel got already much praise from reviewers. For the South China Morning Post she describes the life of Yong Gan, the main female character in her book, and how she ended, like 10 million other women, in prostitution in China.

Zhang Lijia:
Yong Gan went to the factory all the same, and life there turned out much as the woman had predicted. She quit the production line after just three months and headed to Tianjin to join the massage parlour, a middle-range establishment on the outskirts of the city. 
After a brief training period, she started working as a masseuse, usually for male clients. For a one-hour session, she would be paid 60 yuan (HK$68). Her colleagues, however, were making a lot more. Going slightly beyond her brief, so to say, would yield more than twice as much; offering full-fledged sexual services would earn 600 yuan – her monthly salary at the factory. 
Prostitution is illegal in China but is rampant in venues such as massage parlours, nightclubs, hair salons and karaoke bars. Some researchers believe there may be more than 10 million prostitutes in the country. The government has brought in more than a dozen laws to check prostitution in the past couple of decades, in the course of which it has shifted its emphasis from eradicating prostitution to containing it. As a result, shady parlours manage to operate without hindrance for the most part, even though raids are reported from time to time – last month in Beijing, three exclusive “nightclubs” were busted. 
Yong Gan’s slide down the slippery path to prostitution was as rapid as it was painful. At every step, she rationalised it was all for her daughter. The hours were long, starting at noon and dragging into the small hours. In between, she would usually fit in a couple of “small jobs” and a couple of “big jobs”. 
She would have to pretend to be cheerful in front of the clients, no matter how exhausted she was. Yet the worst part was the constant anxiety. When a client turned up, the girls would gather in the reception area, striking alluring poses and smiling invitingly. “If I failed to be picked, I would be disappointed and anxious. If I got picked, I felt anxious, worrying he might be difficult to please, or even violent.”
More in the South China Morning Post.

Zhang Lijia is a speaker at the China Speakers Bureau. Do you need her at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you interested in more stories by Zhang Lijia? Do check out this list.

Religion: flourishing in China - Ian Johnson

Ian Johnson
When you believe Western media, religion is suffering severely from repression in China. But author Ian Johnson explored for his book The Souls of China: The Return of Religion After Mao the different religions in the country and discovered they are flourishing like they did not do for a long time, he tells to Christianity Today.

Christianity Today:
What are the major religious movements you explored? 
First, I look at groups in Beijing that practice Buddhism and other Chinese folk religions, which have been suppressed in the past but are making a big comeback with a bit of government support. These are primarily working-class people, the kind you don’t meet very often or read about too much. 
Then I spent time with a group of folk Taoist priests living in Tseng Chi province, in the countryside. Even though China has urbanized, about half the population lives in rural areas. Taoism is China’s indigenous religion. I got a feel for religion in the countryside, and a sense of the adaptations people make when they move to the cities. I visited a family where the father stayed in the village and the son moved to the town, which caused some tensions. 
The other major group is the Chengdu Protestants, named after the province where they are concentrated. Protestantism is China’s fastest growing religion. I wanted to look at an unregistered church, because they are growing the fastest, and because they’re so dynamic and interesting. In some ways, they’re the future of one big segment of religious life in China. I also wanted to avoid spending too much time in Beijing. If you spend all your time there, you would think the Communist Party is all powerful. But in Chengdu you see this unregistered church that’s running its own seminary and kindergarten. It bought a floor in an office building. And all of this is happening even though it’s technically illegal. You get a feel for the diversity of China and how things outside of Beijing can be a bit more freewheeling. 
How would you categorize the folk Buddhist “tea associations” around Beijing? 
I do think this is religious practice, even if the government is more comfortable calling it “culture.” They don’t really know what to make of it. This is not really any one religion. It’s more the way most Chinese religion was practiced in the past, a hodgepodge of Taoism, Buddhism, and various other things. For most people, there wasn’t a sharp theological boundary between Taoism and Buddhism. 
These things used to be viewed as mere superstition—praying to gods for children, good health, or things like that. And the government, in the hard Communist era under Mao, made it illegal. But increasingly, the government doesn’t see it as harmful because it can provide a kind of stability. It gives people something to believe in and it’s not overtly political, so the government is willing to encourage it. 
It’s all self-organized, and people are really quite pious. The government might call it culture, but they’re worshiping at these temples. Almost all of them have little shrines in their homes, like a statue of a god or Guan Yin, the Buddhist goddess of mercy. They light incense and say prayers. You wouldn’t know it just from walking around Beijing, because it’s not so visible. But there are about 80 or 90 of these groups in Beijing, with more forming all the time. 
Why do Protestantism and Chinese folk religions seem to appeal to different classes of people? 
Protestantism is more likely to appeal to Chinese with higher levels of education. That’s not to say that people who believe in Buddhism and Taoism all have less education. But Protestantism is a more modern religion in the sense that you have a more unmediated relationship with God. You can pray directly to God, the pastor addresses you directly in his or her sermons, and there’s more participation by the congregation. 
In a traditional Chinese ceremony, you tend to have a religious experience through an intermediary. The priest figure does ceremonies and says prayers on your behalf, and you’re more passively watching this happen. Many urban, educated people want a more active religious experience. Wang Yi, the pastor of Early Rain Reformed Church in Chengdu, is a very good speaker. His sermons address real-life issues that people face. Traditionally in Buddhism or Taoism you don’t have that kind of interaction with the priest. They are doing something for you, but they’re not really talking to you.
Ian Johnson is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more experts on cultural change in China? Do check out this list.


Ian Johnson discusses his forthcoming book on the return of religion

 

Thursday, March 16, 2017

What makes China tick? - Ian Johnson

Ian Johnson
Journalist Ian Johnson discusses his forthcoming book The Souls of China: The Return of Religion After Mao on the return of religion in China. Chinese want now to do more than only make money, he says. They are looking what brings us together. What makes China tick?

Ian Johnson is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more experts on cultural change at the China Speakers Bureau? Do check out this list.

PBOC promises for fintech and startups - Andy Mok

Andy Mok
Business analyst Andy Mok has nine take-away's from this months central bank's press conference. Fintech and startups got priority from the government, he writes in CGTN, and they prepare for global expansion. But domesticallly virtual currencies and digital payment systems are kept under control to avoid capital flight.

Andy Mok:
Moreover, virtual currencies, third party payment systems and wealth management products all have important potential and actual linkages with each other that impact on existing policies and regulations.
With the scale of China’s market and financial assets and the speed with which business is undertaken online, both market participants and policy makers should examine these intersections for opportunities and risks. 
For example, there are now a number of crowdfunding and online lending apps that allow middle-class Chinese investors to pool their money to buy property overseas. While the ceiling of 50,000 US dollars per year on how much an individual Chinese person can take out of the country may appear to be a meaningful constraint, 10 million Chinese investors equals 500 billion US dollars in outbound investment. Given the middle class in China now exceeds 400 million, small changes in their financial behavior can have real consequences. 
Their actions can have a meaningful macro-level impact and the speed at which their behavior changes, such as taking up online transactions, means that more PBOC attention and resources will be devoted to areas such as this.
Finally, “inclusive finance” will target not only the poor and people who don’t have bank accounts (or hardly use the banking system) in China but will also impact on the poor across the world. As initiatives such as the Belt and Road gain further momentum, China will take a much larger role in bringing the rest of the world's unbanked into the digital era. Startups ready and able to develop “multi-local” inclusive finance products and services will have a powerful PBOC wind behind them.
More at CGTN.

Andy Mok is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more fintech experts at the China Speakers Bureau? Do check out this list.  

Tuesday, March 14, 2017

Conflicting messages hurt business confidence - Shaun Rein

Shaun Rein
On one hand China tries to embark with "One Belt, One Road" on a massive global expansion. But financial limitations on the outflow of capital go against that. Those conflicting messages makes business people worried about what road to take, says business analyst Shaun Rein to the South China Morning Post.

The South China Morning Post:
To swap yuan into foreign currency and fund outbound investment, Chinese companies need the approval of the State Administration of Foreign Exchange (SAFE). 
But Beijing has adopted tougher rules on overseas investment applications since late last year, as the sharp depreciation of the yuan accelerated capital outflows, draining the country’s foreign reserves. 
As of early March, Chinese companies have announced US$19 billion of acquisitions abroad, a 74 per cent drop on a year ago, according to Bloomberg data. 
“The Chinese government is sending conflicting signals to businessmen,” said Shaun Rein, the managing director of China Market Research Group. 
“On the one hand, it wants Chinese companies to become global players and help build the belt and road initiative, yet at the same time the government is stopping companies from converting yuan into foreign currency. The conflicting policies are hurting business confidence,” Rein said. 
“China needs to decide whether it wants to lead and be part of the international economic system and fill the power gap left by a protectionist America under Trump or if it will let short-term fears of capital outflows destroy what should be a multi-decade initiative to create power and economic well being for China,” he said.
More in the South China Morning Post.

Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch or fill in our speakers' request form.

Are you looking for more experts on the "One Belt, One Road' initiative? Do check out this list. 

Monday, March 13, 2017

Breaking the stranglehold of Google and Facebook on mobile apps - William Bao Bean

William Bao Bean
Making money on mobile apps is - despite their popularity - almost impossible. Taiwan-based MOX and Shanghai-based Chinaccelator try to break the stranglehold of Google and Facebook on this industry, says William Bao Bean, managing director of both, to Tech in Asia.

Tech in Asia:
MOX works with startups that make mobile apps and services, and focuses on Southeast Asia, Eastern Europe, and South America. 
As it targets mobile app makers, the accelerator has found it has to throw down with Google and Facebook, the two main forces that determine what content floats to the top. “In the US you have the 99 percent and the 1 percent, on the internet you have the 99.9 percent and the 0.1 percent,” says William Bao Bean, MOX managing director and SOSV partner. The latter are the people who make any money on mobile, he adds. 
“We don’t even see venture capital backing apps so much anymore because it’s just a money transfer from the VC to the startup and from the startup to Google and Facebook,” William laments. 
To break this distribution stranglehold on mobile, MOX is trying to put together a consortium of companies that are feeling the same pressures. This includes companies like mobile phone brands, TV networks, and independent app stores. William isn’t ready to provide more details or name any participating companies at this point. 
The accelerator was originally meant to have one more startup batch during summer 2016 but chose to take a break and iron out some kinks. 
One key lesson it learned during that process? “When we say low-end phones, they’re really low-end phones,” he laughs. For its first batch, the accelerator wanted to find apps and services that worked on cheaper smartphones – ones more likely to be found in emerging markets, where MOX claims to offer startups access to a user pool of 130 million. 
Turns out, they overestimated even those devices. So now, participating startups need to make their apps under 10MB in size, able to work in unstable networks, and more data-friendly.
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William last week at MOX in Taiwan

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