How religion links to China's outbound investments - Ian Johnson

Ian Johnson

Religion in China is on the rise, shows journalist Ian Johnson in his book The Souls of China: The Return of Religion After Mao. China's outbound investments in the One Road, One Belt (OBOR) or Belt and Road Initiative (BRI) program illustrate that change in China's leaderships' approach to religion and image-building at home and abroad, he says to Indepthnews.net.

Indepthnews.net

Against this background, Chinese President Xi Jinping's One Belt One Road (OBOR) initiative, also known as the Belt and Road Initiative (BRI), unveiled in 2013, has provided the countries of the wider region with a new challenge as well as a unique opportunity to fast track their economies along the path to development. An investment bonanza is being made available under the BRI, especially for the countries along the ancient Maritime Silk Road. 

Coupled with the investment-driven BRI, China has also subtly begun to underline its cultural and religious links in the wider region. A soft power caress of the region! According to Ian Johnson, author of The Souls of China, President Xi Jinping has embraced religious faith as part of his "Chinese Dream" and the "Belt and Road Initiative". The nominally atheist Chinese Communist Party has now recognised that religion in Chinese history was a powerful tool in domestic governance and international diplomacy. For Xi's "rejuvenation" of the Chinese nation and national culture after the "Century of Humiliation", this mix of faith and politics constitutes a "re-imagining of the political-religious state that once ruled China". 

When Xi Jinping's father, Xi Zhongxun, was head of the party's religious work beginning in 1980, China's Central Committee issued the famous Document 19 warning party members against banning religious pursuits because it would isolate the Chinese people. Ever since, China has been restoring places of worship destroyed in the Cultural Revolution.

More in Indepthnews.net

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JD.com shareholders are getting nervous - Shaun Rein

Shaun Rein

While the criminal case for sexual harassment against JD.com CEO Richard Liu is still unclear, to say the least, its shareholders are getting nervous, says financial analyst Shaun Rein, and author of The War for China's Wallet: Profiting from the New World Order to the Nikkei Asian Review.  "Worries will grow over time if the stock continues to slide."

Nikkei Asian Review:

That doesn't mean JD.com's shareholders are sitting quietly. While Walmart declined to comment on whether it has queried the company about the allegations against Liu and Google did not respond, institutional investors are worried. 

"Shareholders are hugely concerned," said Shaun Rein, managing director of China Market Research Group in Shanghai, who said he had recently spoken with about 20 funds which have invested in JD.com or Tencent. "The uncertainty is bad for stock prices and bad for partnerships. Worries will grow over time if the stock continues to slide." 

Funds are likely to query the company about the criminal case, said Jamie Allen, secretary-general of the Asian Corporate Governance Association. "They won't refrain from talking to JD about it," he said. "They would have some opportunities to raise it."

More in the Nikkei Asian Review.

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Personal branding: how to become a thought leader in social media - Ashley Dudarenok

Ashley Dudarenok

China-vlogger Ashley Dudarenok explains at Malaysian TV how China changed her, and how she developed into a personal brand, working at social media. And of course: Much about the new retail, e-commerce and developing opportunities in China.

Ashley Dudarenok 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.

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Fighting WeChat: a tough challenge - Matthew Brennan

Matthew Brennan

Bullet Messenger profiled itself last week at a competitor of WeChat, and got a lot of interest, certainly from investors. But its mission might be very tough to achieve, says WeChat expert Matthew Brennan at PYMNTS. "This is not a WeChat killer."

PYMNTS:

The tailwinds are multiple. For one thing, said the newswire, Bullet Messenger has a “stripped-down” appeal to the masses (more on this later), and in a competitive landscape dominated by the likes of WeChat, those same masses of users are looking for an alternative. 

At the same time, money and consumers chase and lock in on what’s available. According to Matthew Brennan, co-founder of consulting firm China Channel, the disruption is one that comes with speed, and, as he said, “there is an increasingly large amount of easy money chasing increasingly fewer opportunities, while there is also a very large pool of talented entrepreneurs now, so people know how to scale businesses fast – there is an established playbook.”... 

Still, at the moment, though the initial embrace of Bullet may impress, at least some observers state that the competitive landscape is unlikely to tilt anytime soon. WeChat, as Tencent noted in its most recent earnings results, is a bright spot for the company, as monthly active users grew by 10 percent year over year to reach and breach that one billion user milestone. 

Said China Channel’s Brennan, “this is not a WeChat killer. Bullet is still tiny and has a lot to prove,” adding that it is “very, very difficult” to build successful social networks where users actually stay.

More at PYMNTS.

Matthew Brennan 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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Prices luxury goods in China rise - Rupert Hoogewerf

Rupert Hoogewerf

The luxury consumer price index (CPI) went up 4.1% in the first five months of 2018, the highest rise since 2012, says Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, according to the Global Times. 

The Global Times:

Prices of luxury goods are increasing in China, an industry report showed, with the luxury consumer price index (CPI) surging by 4.1 percent so far in 2018, double the growth rate seen on the general CPI from January to June. 

The 4.1 percent luxury CPI increase is the highest growth rate since 2012, Rupert Hoogewerf, chairman and chief researcher of the Hurun Report, was quoted as saying in a statement sent to the Global Times over the weekend. 

Luxury CPI is an index released by Hurun that measures the change in consumption prices every year regarding how much consumers pay for a total of 108 luxury goods and services, including properties, private healthcare and education, travel, weddings, watches, jewelry, accessories and skincare. 

Among the categories, high-end alcohol and tobacco lead the luxury CPI gains with an average price rise of 12 percent, followed by jewelry, accessories and skincare as well as leisure, with a growth rate of 7.2 percent and 5.6 percent, respectively, according to the report. 

Meanwhile, jets and yachts as well as weddings bottomed the list with a price decline of 5.9 percent and 2.7 percent, respectively.

More at the Global Times.

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Behind the success of Douyin (Tik Tok) - Ashley Dudarenok

Ashley Dudarenok

E-commerce platform Douyin or Tik Tok has added new functions for both users and brands, explains e-commerce expert Ashley Dudarenok at AskleyTalks. Users can link up directly to Taobao, making it tighter linked to e-commerce leaders. And brands can get their verified accounts, more data on their visitors and more other insights.

Ashley Dudarenok 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.

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Macau casino's: a legitimate target in the trade war - Shaun Rein

Not only commodities like soybeans and caviar can be hit by tariffs in the ongoing trade war, China has many more potential targets, like the US casino's in Macau, says business analyst Shaun Rein, author of The War for China's Wallet: Profiting from the New World Order, at Onlinepoker.net.

Onlinepoker.net:

Needless to say, a trade war between the two economic powerhouses is likely to spill over into a number of different industries, with US owned casinos in Macau one area at risk from collateral damage. Currently, Macau has six licensed gaming operators with 41 casinos on the island, many of which are owned by US companies Las Vegas Sands, MGM Resorts and Wynn Resorts.

While US manufacturing and exporting interests in China are likely to be the first businesses targeted by the Chinese government during a trade war, casino operators in Macau could also be viewed as potentially legitimate targets ripe for retaliation. As Shaun Rein, China Market Research Managing Director, explained recently:

“It is possible they will ratchet up police surveillance of his [Adelson’s] Macau properties in order to spread fear among high rollers and even middle-class gamblers that they are being checked in on by the authorities. Or they will launch an audit of their books. Either way, a move could be viewed as having plausible deniability that the government cloaks as a crackdown on corruption or tax evasion, as they did against Lotte in China’s battle with South Korea.”

More at Onlinepoker.net.

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How QQ gets a second life - Matthew Brennan

Matthew Brennan

Tencent's QQ has been the granddaddy of the Chinese internet and seemed on the way out, but is making a comeback, says Tencent expert Matthew Brennan at the South China Morning Post. With a slew of new features, QQ has become attractive for the younger internet users.

The South China Morning Post:

Daily active users of QQ Kandian, the algorithm-driven entertainment news feed within QQ, surpassed 80 million in the first quarter of 2018, according to a first-time release of data from Tencent. And 70 per cent of those users belong to the generation born after 1990. Kandian targets the entertainment-oriented information needs of young users by aggregating rich content related to anime, comics and games, pop stars, extreme sports, fashion, beauty and technology. 

“The success of Kandian does not necessarily get QQ users going up, but the time spent on QQ has increased,” said Matthew Brennan, who tracks Tencent at China Channel, a Shenzhen-based marketing agency. 

Integrating engaging entertainment content into its social platforms is a key focus for Tencent... 

Aside individual products, QQ has also introduced a series of features such as facial beautifying tools, painting-styled photos, animated video stickers, face swap effects and video chat filters designed to make interaction and communication on its social platform more fun and entertaining. For example, QQ users can create video GIFs of themselves, decorate the GIFs with animated stickers and share them with friends. 

“If you use QQ mobile messenger, it feels very colourful and lively … and I think that’s the right strategy,” said China Channel’s Brennan. “Live-streaming, e-sports and short-videos … whatever is popular among young people you can find in QQ.” 

But it’s not just the colourful features that appeal to young people – it’s that sense of using something their elders don’t. What’s childish for mature internet users can be cool for teenagers.

More at the South China Morning Post.

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China can outlast the US in an economic war - Arthur Kroeber

Arthur Kroeber

Media are looking for winners and losers in the trade war between China and the US, and while damage can be inflicted in the short run, China is going to outlast an economic war with the US, says renowned economist Arthur Kroeber, author of China's Economy: What Everyone Needs to Know to Money Week.

Money Week:

Trump insists he plans to impose taxes on over $500bn of Chinese goods unless Beijing agrees to major changes in its intellectual-property practices and industrial-subsidy programmes. China has denied Washington’s allegations that it systematically forces the unfair transfer of US technology and insists it adheres to World Trade Organisation rules. 

Beijing has plenty of fiscal and monetary tools to keep the economy afloat, says Arthur Kroeber of Gavekal Research. The country’s property sector and consumer spending are holding up well. China “is well placed to outlast the US in an economic war of attrition”.

More in Money Week.

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Is McCarthyism around the corner in the US? - Kaiser Kuo

Kaiser Kuo

The political debate in the US has become rough, and some fear a return of McCarthyism from the 1950s when everybody linked to Russia feared prosecution. Now China too has come into the equation, and political methods move into the same direction, says China analyst Kaiser Kuo to the US World&News Report.

The US World&News Report:

With public concern heightened about the intentions of Beijing and Moscow, experts who spoke with U.S. News say that the letter sent to the NRDC suggests that U.S. organizations are now facing the prospect of similar scrutiny – and may signal the rise of a new tactic that brands perceived political opponents as Chinese or Russian fronts. 

“Of course, that‘s what‘s going to happen. That‘s what happens in a McCarthyist witch hunt. This is the template, right?” says Kaiser Kuo, a freelance writer and former director of international communications for the Chinese search engine Baidu, who frequently writes about and hosts a podcast on China. “I don‘t think it‘s risen to that yet. But we‘re teetering toward it. And I do worry.”

More in the US World&News Report.

Kaiser Kuo 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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One Belt, One Road: a debt trap? - Andy Mok

Andy Mok

Western media have been portraying China's massive investment program One Belt, One Road (OBOR) or Belt Road Initiative (BRI) as a colonial trick to put developing countries into debt, and then seize their assets. Business analyst Andy Mok sees debt problems as a normal business risk in highly complicated investments on infrastructure, he tells at the state-owned CGTN.

Andy Mok:

Since its inception in 2013, the Belt and Road Initiative (BRI) has garnered worldwide attention because of the scale and scope of its ambition. It has also become the target of criticism and suspicion from various quarters. 

Recently, the notion of “debt-trap diplomacy” has been prominently featured in mainstream Western media in an effort to mislead and tilt the opinion of elites lacking direct experience of the countries engaged in BRI projects and the nature of infrastructure investment against this initiative. 

Proponents of this idea claim that Chinese enterprises, at the behest of the government, encourage targeted countries to take on burdensome amounts of debt for BRI-related infrastructure, knowing full well that these debts are too big to be repaid. 

When the borrowing country inevitably encounters repayment problems, China can then seize the assets in question. According to these people, this is a deliberate strategy pursued by China to advance its geopolitical interests at the expense of debtor countries. 

Sri Lanka's Hambantota port project has become the poster child to illustrate China’s allegedly nefarious motives. For example, a New York Times article titled "How China Got Sri Lanka to Cough Up a Port" describes the initial loan of 307 million US dollars to kick-start the project by China's Export-Import Bank in this way: “To obtain the loan, Sri Lanka was required to accept Beijing’s preferred company, China Harbor, as the port’s builder...That is a typical demand of China for its projects around the world, rather than allowing an open bidding process.” 

While the pejorative insinuation is clear, there are perhaps less conspiratorial explanations for such practices. Here's one: Infrastructure projects are extremely risky because they are highly complex and therefore many things can go wrong, resulting in delays and cost overruns.

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.

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Less bling, more consumption in China - Tom Doctoroff

Tom Doctoroff

Marketing guru Tom Doctoroff denies stories about a downgrade of consumption in China, as some assume. There is less bling in the bigger cities, but the rest of the country sees more consumption as people just get enough income to start consumers, he tells at CGTN. Tom is the author of What Chinese Want: Culture, Communism, and China's Modern Consumer.

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Mobile only: getting to the next 4 billion users - William Bao Bean

William Bao Bean

A market of four billion users is waiting to be tapped into and William Bao Bean, managing director of the Shanghai-based SOSV, explains how his MOX is helping startups to do so. With a solid background in banking, telecom and the internet, William saw how mobile applications disrupted traditional industries, and offer new possibilities for companies to enter developing markets. Here his take on his current day job.

William Bao Bean 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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Google will have a hard time in China - Shaun Rein

Shaun Rein 

Google needs a strategy to enter China if it wants another one billion users, but that is not going to be easy, says business analyst Shaun Rein, author of The War for China's Wallet: Profiting from the New World Order in the Hindustan Times. Especially since China's search engine Baidu is way better in speaking Chinese.

The Hindustan Times:

A lot of Google’s new users will have to come from China, if the company is to achieve its stated target of reaching ‘the next billion people online’. Government interference saw Google quit the China market in 2010, but it is now trying to re-enter. 

“It is going to be very difficult,” says Shaun Rein, founder and managing director of the Shanghai-based China Market Research Group (CMR). The company will have to change how it operates, bend to a very different set of rules, particularly in terms of content curation. 

“Also,” says Rein, “the Chinese-language Google was just not as good as [the Chinese search engine] Baidu the last time they were here.”

More in the Hindustan Times.

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Mexico trade deal puts more pressure on China - Wang Haiyan

Wang Haiyan

US president Trump closed a trade deal with Mexico, a minor victory, but putting more pressure on the trade negotiations with China, says business analyst Wang Haiyan at CGTN. For the time being, Trump can afford to play tough on China, she says.

Wang Haiyan 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.  

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How the trade war can turn sour for American brands - Shaun Rein

Shaun Rein

McDonald's, Starbucks, KFC and Burger King are some of the American consumer brands in China who can get burned as the trade war heats up further, says business analyst Shaun Rein, author of The War for China's Wallet: Profiting from the New World Order, to the South China Morning Post.  

The South China Morning Post.

China is a prime market for US empires like Starbucks, KFC and McDonald’s, while Burger King recently announced plans to expand its presence there. 

“There is a huge risk in general for American brands, but especially for iconic ones like Starbucks,” said Shaun Rein, managing director at China Market Research Group. “With increased competition, combined with nationalism, and the trade war as a back drop, it is very possible Chinese consumers will boycott McDonald's and Starbucks and instead go to Chinese brands.” 

KFC makes up China’s largest network of restaurants, with 8,200 outlets and is the largest fast-food brand. It had a 5.2 per cent share of the market, worth US$6.63 billion, last year. Illinois-founded McDonald’s was in second place with a 2.4 per cent market share worth US$3.14 billion, and Florida-based Burger King was fourth, with 0.6 per cent, according to market research provider Euromonitor International... 

In April, messages emerged on Chinese social media urging people to boycott American firms. Little impact has been seen so far, said Rein, but “if this trade war gets worse I could very easily see the government targeting Western brands.” 

“So far in this trade battle the Chinese government have been very measured. They have criticised Trump but not American companies,” he said. “However, we have started to see in the last two weeks more Chinese getting angry at America because they view this is as no longer a trade war but a containment strategy – that Trump is using it as an excuse to contain China’s long-term economic rise, rather than iron out trade issues.

“These companies could come in for a rough time.” 

Florida-based hamburger restaurant Burger King has big plans. Daniel Schwartz, CEO of parent company Restaurant Brands International, recently said they plan to focus their global expansion on China. They intend to open more than 150 branches of the Canadian coffee chain Tim Hortons, for the first time. 

“It is unlikely timing for them, but the reality is that you have to plan five to 10 years down the line. The hope is that the trade war will pass over the next six to 12 months and you need to go where the growth is,” said Rein.

More at 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 ongoing trade war between China and the US? Do check out this list.

Tencent's investment strategy disclosed - Matthew Brennan

Matthew Brennan

Tencent's investment strategy is mostly a black box, where observers try to find a red line by looking at what the internet giant is doing. Tencent analyst Matthew Brennan got the unique possibility to discuss those issues with Tencent Investment Partnership Manager, Li Zhaohui, and published a translation on China Channel.

China Channel:

Q：There is a view that Tencent’s focus on investment is now hindering its own business innovation. What do you think of this? 

A： It’s totally wrong to place the investment performance and one’s own business as opposing goals. i.e. if the investments are doing well, it will lead to a bad core business, or saying business is turning bad because Tencent has placed more energy into investing. This is a misunderstanding. On one hand Tencent’s investment contributions to the main business can be very direct, such as our investments into the gaming industry. In this way, we have established long-term strategic relationships with our core partners to ensure that we have access to the best games in the world. On the other hand, other investments can have very strong synergies and mutual promotional relationships with Tencent’s core businesses. These relationships are far from being as simple as how much money is reported on our financial statements. 

Q：What synergies are there with the main business? 

A： Investments provide Tencent with many opportunities and possibilities for expansion into new areas. The classic example is e-commerce. If there was no investment, it would be difficult for Tencent to enter this field. Before Tencent had （拍拍网）PaiPaiWang, which it was running for many years. After entering the e-commerce business, it was through investments that we gained controlled of 51buy.com, which was the biggest competitor of JD at the time. After that, we invested in some vertical e-commerce players and new format e-commerce, such as Pinduoduo. Some investments also combine offline operations, for example we are not likely to run our own offline bike rental business. In this way it’s only through the strong binding of interests through investment, that Tencent will use its huge traffic and user base to help these business. In this process, Tencent’s investment department plays a very important role.    

Q：But the establishment of partnerships is possible not only through investment. For example, Starbucks and Ali have recently reached a cooperation, but they do not have an equity partnership. 

A： The Tencent business unit has done many things on its own. We are the biggest proponents of the “Internet+” policy and have business partnerships with various entities including local governments. Another example is that every year we distribute thousands of games, and it is impossible to have an investment relationship with every company. 

Q：Why are you entering so many industries? This type of investment has been referred to as “sprinkling pepper”. 

A： The investment reflects to some extent Tencent’s attitude of restraint towards other industries. Our thinking is relatively clear, only invest in areas related to Tencent’s business, mainly consumer Internet (tips: Consumer Internet refers to the application of internet across an individual’s daily life. Specifically, the comprehensive digitalization of personalized needs regarding clothes, food, housing, travel, medical and other daily life situations). If you say that we are constantly entering new areas, there are only two reasons. First, the Internet is also expanding and entering many new areas. We are simply following the trends of how the Internet is expanding. Secondly, too many industries and fields are converging. It’s getting difficult to easily categorize what field companies are in. 

Q：Are there any areas you absolutely will not invest in? 

A： Many. For example, in the past few years, many companies that have nothing to do with our core business have asked us to consider investments, some of which are very certain to be profitable, but we won’t do it. New materials and communication equipment in the TMT sector, we are very clear not to invest there because we do not understand this area. Alternatively, if we see a loss-making company with a lack of experienced management, but we believe the company holds value and can meet the needs of a large number of users, even if it faces many difficulties, we are willing to invest. 

Q：Some investors suggest that you should learn from Alibaba, to do more mergers and acquisitions, integration, do you think that makes sense? 

A： It’s not a case of black and white. Regarding mergers and acquisitions, we are quite strong willed. M&A itself is a very difficult thing. Alibaba has done very well, I think they’ve done amazing and it’s worth learning from. If you look at Alibaba’s mergers and acquisitions, they are all in the fields that they are relatively familiar with. We also do similar things in the areas of gaming and literature for example.

The full interview you can read at the China Channel.

Tencent's Li Zhaohui

Matthew Brennan 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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How we help startups using big data - William Bao Bean

William Bao Bean

Enterprise accelerator MOX (mobile only accelerator) let six startups show-case in Singapore last week. William Bao Bean, partner at the Shanghai-based SOSV explains how his network helps to use big data to enhance their chances on a global market, he tells at E27.

E27:

As its name suggests, MOX invests and works with mobile-focused startups to refine their solutions, business models and teams. It also helps them acquire users by connecting them with 167 million smartphone users on its platform, partnering them with brands and telcos, and also via cross-promotion with other apps (in return for revenue share). 

William Bao Bean, General Partner, SOSV, said that MOX helps startups analyse large swaths of market data so they can optimise their localisation and monetisation strategy.

Currently, MOX focuses on India, Indonesian and Philippines-based startups. It is looking to expand to other countries in the region, such as Malaysia and Vietnam, in the near future. 

That said, it is also open to companies that hail from other parts of the world — as long as they have an amazing product to share. At its 5th Demo Day in Singapore today, MOX showcased 6 such mobile startups.

More at E27.

William Bao Bean in action in Singapore

William Bao Bean 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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How Alibaba became a success in China - Shaun Rein

Shaun Rein

When Alibaba emerged, it first had to face formidable competition from the US. Business analyst Shaun Rein, author of The War for China's Wallet: Profiting from the New World Order explains in the South China Morning Post how the nimble operation from Hangzhou was able to beat EachNet and eBay.

The South China Morning Post:

“The initial success of Taobao was as much due to the failure of EachNet and eBay’s American management teams, as to the success and savviness of the Alibaba management team,” said Shaun Rein, the managing director of China Market Research Group and author of The War for China’s Wallet: Profiting from the New World Order. 

“A lot of Americans complain that Western tech companies cannot succeed in China because of the government, but in fact a lot of the failures were due to the management teams, from eBay to Google.”

More at 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 to help you on the China take of its digital transformation? Do check out this list.

Foreign car markers keep on lining up for domestic players - Mark Schaub

Mark Schaub

China has promised to open up its markets for foreign players, but most car makers keep up lining up for domestic partners. For good reasons, says London-based lawyer Mark Schaub, since domestic partners still have huge advantages, he tells in Bloomberg.

Bloomberg:

GM has chosen Alibaba-owned AutoNavi for its Super Cruise driver-assistance system on Cadillacs it plans to sell in China. SAIC Motor Corp., the country’s biggest carmaker, bought shares in license holder Wuhan Kotei Informatics Co. and formed a joint venture to develop driver-less mapping. Didi Chuxing, the country’s largest ride hailing startup, obtained a license in 2017 and has a team working on maps and driver-less technology. Even online retailer JD.com has applied for a HD mapping license as it works on driver-less delivery trucks. 

The lure of the Chinese market is likely to keep foreign carmakers lining up for local partners and give the domestic players an edge, said Mark Schaub, a partner at King & Wood Mallesons in Shanghai who specializes in foreign investment in China. 

“It’s true these guys do have an advantage already,” he said.

More in Bloomberg.

Mark Schaub 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.

Mark Schaub has been publishing extensively about the automotive industry and the new rules for self-driving cars. More you can find here.