Loneliness: the latest economic niche opening up in China

Young people in big cities seeking emotional outlets by embracing loneliness and consuming loneliness. A new type of Chinese consumer: well-educated, young and willing to spend – but spending alone. The empty nest youth is an emerging theme in China’s economy. Mini karaoke booths, one-pot hotpot restaurants and many mobile games to accompany the lonely. We may see a phenomenon, facilitated by technology, where young Chinese people, especially millennials, are looking for individual experiences and personalized services more than the previous generation; not unlike their peers in other countries. However, I’d argue that technology is facilitating loneliness rather than allowing Chinese consumers to embrace it. There is plenty of evidence that youngsters would rather spend time on their smartphones than on playing with friends, dating, working and just hanging around. The slightly addictive nature of certain social networks and the fact that a handful of technology giants control those information streams does make me worry about the long-term societal effects.

Read more: South China Morning Post

Can China’s poorest province achieve its dream of becoming the next big data hub?

Guizhou and its capital were put on the fast track to economic growth in 2013; growing over 10% in 2017. Big data is one of the focus areas for this once poorest province of China. Big data and artificial intelligence are considered as the technology to shape the future and thus make China the leading technology power. China has a clear advantage in big data because a lot of big data is collected, stored and analysed. With the average high acceptance and connectivity of mobile digital technology, the exponential growth of big data in China cannot be ignored. Not only the government support is there, but also, the market, technology and capital necessary for real big data technology innovations.

Read more: South China Morning Post

Leveraging rapid growth: The 3 generations of entrepreneurs in China

The Chinese economy — much like the daily life in many regions in China — can be characterized by one word: Change. Fast-paced, constant change. It’s been going for decades. The first generation of today’s biggest entrepreneurs started in the 70ies. They excelled in adapting their business to a growing demand. The responders. The next generation of entrepreneurs were driven by the opportunities the internet and e-commerce brought. We are talking about the BAT: Baidu, Alibaba, Tencent. The Internet leaders. What is there left to do as a startup when faced with a market that is driven by a few seemingly omnipotent players? The answer is disruption. The 3rd generation of Chinese entrepreneurs have emerged over the last 5–8 years. The Change Makers.

Read more: Medium

How China’s new model for hi-tech firms can help it become a global leader in artificial intelligence and driverless cars

Barely a decade after the global financial crisis, China’s economy is shedding its “factory of the world” past and embracing an innovative future built on a business ecosystem supported by rising companies such as Baidu, Alibaba, Tencent and Xiaomi and more than 1,000 new venture investments by the country’s nouveaux riches. Its ecosystem has put China on pace to become a global leader in electric and driverless cars within 10 years. It is also on track to become a leading Artificial Intelligence developer. The business ecosystems of Chinese companies differ sharply from those of US juggernauts such as Google, Amazon, Facebook and Apple, according to Greeven, whose book came out in September. In the US, one company usually creates a platform which outside companies either plug into or use. In China, an outside company does not plug in, but becomes part of the business as one of hundreds of players in an ecosystem, Greeven argues.

Read more: SCMP Print South China Morning Post

Chinese internet leaders are also HR pioneers

Where would you expect to find the world’s most innovative talent development program or a meld of big data and artificial intelligence
together predicting employee resignations with 95% accuracy? Your answer probably would not be China, but think again. While dreadful personnel management practices, as well as dangerous labor abuses, can still be found in the country, it would be a pity to ignore the innovation going on. Chinese companies have been the quickest to adopt new technologies such as big data, artificial intelligence and talent analytics. Their innovative human resources practices can bring a fresh perspective from one of the world’s most dynamic markets.

Read more: Nikkei Asian Review

Foreign observers comment on Xi’s report to 19th CPC congress: Role of talent development

In the last decades China has been building the foundations to become a modern and prosperous society. However, as suggested by President Xi Jinping in the 19th Party Congress, the rise of China depends on continued efforts in reducing income inequality and job creation. In my opinion it is good news that President Xi also addressed the importance of a world class talent development system to support China’s future. As an educator I look forward to continuous efforts in reforming and improving education for all in China.

Read more: China Daily Print; China Daily

NOS Nieuwsuur – China’s economy and digital business ecosystems

China is following her own plan when it comes to economic development. Some even speak of the need for a new political theory to account for President Xi’s approach to government. It is not surprising that in China’s unique business context, companies also show different approaches to growth and organization. I study Chinese organizations and how to thrive in an uncertain business environment to draw lessons for global organizations facing increasingly dynamic business contexts. One such new organizational form is the innovative business ecosystem, exemplified by Alibaba but also adopted by Baidu, Tencent, Xiaomi and LeEco. While businesses are often organized in matrix structures, these companies follow a more boundaryless approach: the business ecosystem.

Meet China’s new tech giants: Alibaba, Baidu, Tencent and Xiaomi

Find out how Chinese tech giant Alibaba and its peers Baidu, Tencent and Xiaomi are giving Amazon and Google a run for their money. Google, Amazon, Facebook and Apple (Gafa) may still be the world’s largest technology companies, but a new generation of contenders is coming from the East. The Chinese giants are consistently on the MIT Technology Review’s list of smartest companies in the world. While Chinese enterprises were long written off as copycats, this has now become a bad joke. Gafa needs to be aware of BATX’s boundaryless business approach, leveraging a new way of organising and exploiting the benefits of both strategic planning and entrepreneurial decision-making.

Read more: The Telegraph

The rise of new technology giants from China

Google, Amazon, Facebook and Apple (‘GAFA’) may still be the world’s largest technology companies, but a new generation of technology contenders is coming from the East. Alibaba and its peers Baidu, Tencent and Xiaomi (popularly termed ‘BATX’ in China), not only lead but also create and disrupt markets. With a combined market capitalization of about $900 billion, incubating over 1,000 new ventures within a decade and an average annual growth of over 50 percent, they are showing their unprecedented growth and relentless ambition to the world. Did you know that Tencent’s WeChat has over 1 billion users worldwide? Xiaomi bested Apple in the Chinese market, just 4 years after establishment. Baidu is one of the big boys in artificial intelligence (AI), not less than Google and Microsoft. GAFA needs to be aware of the rise of BATX.

Read More: Financial Times (Chinese) China Daily