Until now, only billionaires, world leaders, and James Bond villains flew to work, but someday soon, you too may have a faster commute: many companies around the world are hard at work on electric vertical takeoff and landing (eVTOL) aircraft, essentially super-sized drones designed to whisk two to four people from one side of a […]
Parag Khanna, founder and managing partner of FutureMap, explains the importance of understanding geopolitics and multipolarity in Asia.
Chinese VC funds are muscling out international VC funding in the China market. What does this mean for startups and the development of China’s tech system?
What does the future of Chinese state-owned aircraft manufacturer Comac and its top products look like?
Right up until the moment his company imploded, Ofo founder Dai Wei insisted he was building a corporate empire to rival Google.
But the young entrepreneur has now come to resemble a modern-day Ozymandias: all that remains of Ofo’s bike-sharing dream are the battered, unusable yellow cycles still littering China’s streets. The collapse of the Beijing-based startup, which just two years ago was valued at $3 billion, has captivated China over recent months.
October 27 of 2018 was supposed to be a historic day for China’s growing aerospace industry. Landspace, a Beijing-based startup, was set to become the first private Chinese firm to launch a rocket into outer space. Then, at 6:40 pm, a fault occurred. Soon after, Landspace declared the mission a failure. A few weeks later, SpaceX completed its 20th successful launch of 2018. It is unfair to draw sweeping conclusions based on the performance of just two companies, but it does serve as a reminder of how far China has to go before it rivals the US as the world’s leading technological power.
On a remote farm nestled deep within the mountainous region of Daozhen, in China’s southwestern Guizhou Province, thousands of chickens are being watched closely. Aided by surveillance cameras and distance-tracking ankle tags, every step, meal and sip that the chickens take inside their paddock is uploaded in real time to an online platform. This farm, along with hundreds like it across China, is part a program that gives consumers a direct data trail from egg to plate. Launched by the technology arm of online insurer ZhongAn in 2017, it aims to boost transparency in China’s food supply chain. The technology behind GoGo Chicken is blockchain.
To many people in its home market China, Transsion Holdings is a company name they’ve never heard of. But this smartphone maker, based in Shenzhen, taking over 38% market share, is rising to dominate the smartphone market by with its Tecno Mobile, Itel and Infinix. Its success shows what differences can a small company make by truly catering to consumers’ long ignored needs, as said by local tech expert, “Transsion has succeeded because they addressed the problems of the market directly. They make phones with features that are attractive to Africans.”
For China’s technology sector, the decision of the United States to hit Shenzhen-based telecommunications giant ZTE with a trade ban in April was an abrupt and painful wake-up call. Until then, many in China had grown accustomed to thinking of their country as a global leader in technology. After all, China’s smartphones, high-speed railways and e-commerce platforms were the envy of the world. But in the days following the ban, designed to punish ZTE for violating US sanctions on Iran and North Korea, it became clear that one of China’s most successful companies was totally dependent on American suppliers.
The negative effects that industrial revolutions unleash on human society always stem from an overestimation and abuse of the power of new technologies. It has never been more important to heed this point than today. Big data and artificial intelligence (AI) are bringing forth a new industrial revolution, and the blind worship of these innovations is already on full display in some quarters.