Most of us have heard that the secrets of our lives are hidden in our genes. As the technology advances, genetic tests have become common in certain situations, such as prenatal tests and medical treatment. Also, from genetic test results, professionals can read things like your personality, talent and health risks. Many Chinese companies, though with no intention of becoming “fortune tellers”, are luring people to do genetic tests and offer easy-to-read talent results–and public demand is running high. Startups are receiving millions in funds for making this technology accessible to ordinary people. But is the model of selling cheap genetic testing services sustainable? And are these tests accurate?
China is exporting its high-speed rail to the world. In Turkey, China helped link the capital, Ankara, with the largest city, Istanbul. In Indonesia, construction on the Jakarta-Bandung high-speed railway line will begin this year. In 2016, the government also announced that it will build a high-speed railway to connect Singapore with the Malaysian capital of Kuala Lumpur. Domestically speaking, China has secured the leading position. Its network, already more than 20,000 km and still growing, is longer than the rest of the world’s high-speed rail tracks combined. Now China is targeting the overseas market for economic and political reasons.
Telling and retelling stories is one of humanity’s most durable characteristics: Harvard linguist Michael Witzel has argued that most of the world’s mythologies grew out of a single set of stories first told in Africa 130,000 years ago. Yet what is the future of corporate storytelling? Although our penchant for storytelling may not change any time soon, the storytelling used inside the corporation does seem to be shifting in two ways. First, storytelling is becoming recognized as a trainable skill. Second, and possibly more importantly, the Internet is making it increasingly difficult for companies to control a single version of their own story.
The Airlander 10, part plane and part airship, is the world’s longest aircraft in operation today. Roughly the size of a football field, it has a shape different from any airship of decades past. Developed by British manufacturer Hybrid Air Vehicles, the Airlander 10 can ascend from anywhere with no need for an airport or runway and maintain a capacity of transporting a large amount of goods. According to Stephen McGlennan, CEO of HAV, over 100 million pounds has been invested in the project and it is preparing another test flight in the coming Spring, after it failed in a August test flight this year.
Baidu, China’s largest internet search engine, is having a hard time after a college student named Wei Zexi died after mistaking an advertisement on Baidu for an experimental cancer treatment for medically reliable information. Baidu was then accused of being “unethical”, failing to clearly delineate paid advertisements from search results. Months later, the Nasdaq listed company reported its worst quarterly earnings. With the increased competition from domestic players like Tencent and Alibaba and the downward pressure on online advertising, which contributes to over 90% of Baidu’s revenue, it is crucial for Baidu to diversify its business.
The Chinese economy faces some serious problems, including a slowing GDP growth, environmental degradation and financial disequilibrium. According to Larry Summers, former Treasury Secretary in the Clinton administration, there are some specific solutions, such as making sure that opportunities for children are the same regardless of where in China and to whom they are born, making sure that the success of enterprises depends on the quality of what they sell and taxes are collected in a fair way and, finally, making sure that those who lead enterprises and communities do so for the benefit of their stakeholders.
Over the past 25 years, China has become the world’s preeminent manufacturer, churning out everything from running shoes to Apple products. Powering that ascent was heavy foreign direct investment combined with a seemingly inexhaustible pool of cheap labor. But now, as the Chinese economy slows, wages rise and the workforce atrophies, the decades-long manufacturing boom may be ending. To help deliver China from industrial decline, the Chinese leadership is betting on automation. However for Beijing to become the world’s robotic leader, there is an even more complex issue behind updating robotic technology: how to handle the displacement of large numbers of Chinese workers?
One day in October, 2015, a group of disgruntled investors gathered in Beijing to lodge a complaint: they had bought so-called wealth management products from a state-owned guarantor backed company that managed nearly $8 billion in assets, and which had collapsed later. Such defaults have been uncommon in China’s wealth management product space, but the now-gargantuan industry may pose a large risk to China’s financial system. Many risky aspects of the wealth management products industry make people worry about the possibility of a chain reaction similar to the 2008 financial crisis, when the US mortgage market buckled under similar strains.
One could be forgiven for thinking that after purchasing Uber’s China operations, Didi Chuxing—which now boasts over 300 million users and over 80% of China’s market—would be on easy street. But things are never that simple in the Chinese market. Figures have shown Didi is losing users and drivers. Under strict Chinese local governments’ new policies, Didi may face bigger challenges than Uber China. Meanwhile more people cast doubts over its business model. Boasting a sharing economy model, car-pooling, the company now relies more on providing car-hailing services with prices lower than taxis to maintain its scale. Once the subsidies withdrew, users walk away.
Optimism for Chinese firms is increasing. As they’re making money, they also face different issues. The CKGSB Business Conditions Index posted a mark of 60.8 in November, up from October’s 58.5. This shows that for the survey’s sample firms, of which the majority is relatively successful in China, the next six months are viewed with increased optimism. The CKGSB BCI comprises four sub-indices. Of these, corporate sales fell slightly from 75.4 to 74.0, while corporate profits rose from 57.4 to 61.8. The fact that both of these indices are both well above the confidence threshold of 50 shows that company prospects are improving.