A short video clip of Tencent watcher Matthew Brennan went viral, as he noted facial recognition tools at China’s airports. Most reactions from outside China were rather negative, he notes at CGTN, but in China itself, facial recognition is becoming the new normal. More debate is certainly needed, he adds.
Category Archives: Speaker News
China veteran Ashley Dudarenok notices an upswing in the mood about China’s economy, she tells in her daily vlog. Prospects for the trade agreement between China and the US look good. Financial reforms, including a reduction of the VAT is in the pipeline, and president Xi Jinping supports more than ever private companies.
China is trying to pacify Islam by force, but is achieving the opposite of the stability it wants to secure, says Ian Johnson, author of The Souls of China, to Foreign Policy. “By using more force to increase stability, the government is achieving the opposite effect.”
Fighting Alibaba on e-commerce is a tough struggle, but Tencent’s WeChat is clearly delivering on improving its shopping environment, even when it does not beat Alibaba, says Tencent watcher Matthew Brennan to TechNode.
China is overhauling its now 30-years old regulations for cosmetics, a fast-growing industry of now 260 billion Renminbi (euro 34 billion). The new rules remove some of the red tape, says lawyer Mark Schaub, but also gives the authorities more leverage over the industry, he writes at the China Law Insight.
The reform of the income tax in China will drive many expats out of the country as it will kick in by 2021, as foreign and local taxpayers will fall under the same taxation rules, says financial expert Paul Gillis on his weblog. Especially the equal treatment for housing and education costs will become too costly for expats, or their companies.
A glut in big cities and some high-profile failures like Mark&Spencer have raised doubts on the growth possibilities in China for premium retail brands. But there is still room for growth, if you pick your locations right, says retail expert Ben Cavender to the China Daily.
Growing used to be easy for Tencent and other Chinese IT giants, as mobiles proliferated and consumers got used to the internet. But, as the limited growth by Tencent showed last week, the company has to diversify its key games asset into other industries and global expansion, says Tencent watcher Matthew Brennan to the South China Morning Post.
Chinese apps like Tiktok and WeChat make inroads into the US, and American companies start to copy their features. Fintech analyst Sara Hsu says fierce domestic competition makes those apps better than what we know outside China, as younger generations like their lives through apps. So, if they do well, they can cater for much more than only chitchat, se tells at CGTN.