Online social networks are changing Chinese professional culture—simply sending out resumes to get a job is inadequate. Compared to Americans, young Chinese spend more time networking and leverage social sites to find jobs. Recruiters are active participants in this trend. As a Shanghai-based employer says: “I don’t even call people anymore.” Instead of waiting for resumes that may contain dull business mug-shots, employers look at applicants’ social profiles, chatting to ones they find interesting and learn about their business and leisure time and maybe, if lucky, get a rough idea of their personality.
NetEase is the Chinese internet pioneer you have probably never heard of. Founded in 1997, before its bigger and better-known Chinese internet peers Baidu, Alibaba and Tencent (collectively known as BAT), it is largely unknown outside of China. NetEase is currently making big pushes into many new businesses: e-commerce, online learning, music streaming and a host of other businesses, but it still has a long way to go to climb back to the top of the China tech tree. Analysts note that NetEase lacks the breadth of its rivals’ businesses, and that will likely stymie its growth, unless it can continue to diversify successfully.
Drone maker DJI made drones, once a high-end toy for rich niche hobbyists, into a mainstream consumer product. Begun 10 years ago in a college dorm room, the company now controls 70% of the consumer drone market. Xu Huabin, Vice President of the Shenzhen-based tech firm, explains how the company’s product-driven philosophy helped the firm grow from a maker of model planes to become the world’s largest commercial unmanned aircraft manufacturer. He also discusses DJI’s future plans for diversification and industrialization—to go beyond only making drones with cameras to developing drones with industry-tailored features for diverse customers including engineers and farmers.
Silicon Valley may hog the artificial intelligence (AI) limelight, but Chinese companies are catching up by implementing AI technologies in real life. According to a McKinsey Global Institute research report, China is one of the leading global hubs of AI development and its advantages include the vast population and a diverse industry mix that has the potential to generate huge volumes of the data needed to feed AI systems. That population not only provides an enormous market for AI-related products, but also, with the large number of internet users, about 731 million, China generates more data than most other countries—a key to AI innovation.
Some introverts dread small talk and trying to get to know strangers. But like it or not, networking is necessary. Research has found that regions with higher numbers of contacts per capita were more resilient to economic shocks during the Great Recession. Today, as we embrace all the advances in communication–with more online discussion and less face time–questions over the efficiency of online networking are being raised. Yet the trend is irreversible, and what we need to do is find out a useful role for this new way of networking .
As people imagine the future of transportation, the first thing they think of is driverless cars. There are still many questions to consider, however, and not just at the level of personal safety. How will transportation networks adapt? What about laws and regulations? What will be the impact on logistics and employment? Many technology firms and automakers have had their prototypes, but none which could be commercialized for public use. Wu Gansha, a veteran engineer and former director of Intel Labs China, suggests a rapid way to commercialize driverless cars. He claims that the car produced by his startup will commercialize in two years.
Huawei is one of only a few Chinese companies that has become truly global, deriving more revenue abroad than at home. Long a telecom equipment provider, Huawei shifted its focus to consumer devices and took only five years to become the second most profitable Android smartphone maker and the third largest in terms of production. How did the company manage to do that, given that the smartphone industry is highly competitive? And smartphones are only the highest-profile part of the sprawling telecom giant. With over 170,000 employees across the globe, what is the company’s management system like and what could we learn from Huawei’s model?
Chinese people love to try new technologies. Over the past year, virtual reality exploded across the country, attracting attention as well as investment from people who see a potential wave of the future: Analysts predict that China’s VR market will be worth $8.5 billion by 2020. But the real-world business of VR, which surged largely on the back of heavy investment, is less solid than it could be. Some people expect the technology to bring revolutionary changes to many industries like gaming, films and shopping but currently a huge portion of the VR market is still for video games and the business model is not yet solidly defined.
Digitalization has changed book reading, book production and book marketing, and it may ultimately even change the nature of books. Amazon’s Kindle e-reader sold out in 5.5 hours after it was first released in November 2007 and remained out of stock until April 2008. All over the world, a similar shift has been underway—slower in markets where bookstores and book sales are regulated, such as France and Germany; faster in more open markets, such as China, where more than 2 million digital book titles are now available and nearly half of all books sold are sold online. Yet surprisingly, most book buyers still end up with print books.
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?