Month: March 2019

onfidence to tackle technology challenges risings better

Chinese business leaders are more confident and prepared in addressing the challenges brought by new technologies than

those in many other countries, said Cindy Hook, CEO of Deloitte Asia-Pacific, a global consultancy firm, on Thursday.

While many business leaders in the rest of the world take a protective approach to using technologies, Ch

ina’s leaders would like to “disrupt their sectors” and facilitate real changes, Hook said on the sidelines of the Boao Forum for Asia.

“Chinese enterprises are looking at the technologies available-whet

her it’s artificial intelligence, big data or the like-to actually come up with whole-new busi

ness models and whole-new approaches to doing things, not just improving the old processes.”

With the readiness for technologies, China is likely to lead on many aspects of the unfol

ding Fourth Industrial Revolution, such as e-commerce, smart cities and the internet of things, Hook said.

The country’s impact on the revolution will be enlarged by its opening-up determina

tion, she added, citing the fresh opening-up measures announced by Premier Li Keqiang at the forum on Thursday.

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Her remarks were based on a Deloitte research, named

Deloitte Industry 4.0 Readiness Report. The research surveyed more than 2,000 global executives and public sector leade

rs in 19 countries, including about 130 from China, about how they are prepared to embrace the revolution.

According to the report, the revolution-which features the booming new technologies and th

e combination of them-has a big opportunity to positively change the world, but has also posed great

challenges. To thrive in the future, Hook believes businesses should strengthen cross-border cooperation and pri

oritize diversity and inclusiveness in corporate cultures-all to maximize the ideas and angles to tackle the challenges.

A key part of achieving diversity is to close the gender gap in bu

siness leadership, which is especially large in the Asia-Pacific region, including China.

According to a report from McKinsey Global Institute released last

year, slightly less than four women held leadership positions for every 10 men in bu

siness and politics, worldwide in 2016. The figure fell to one for four for the Asia-Pacific region, and one for five in China.

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Considering that the two accidents took place after ne

 Boeing 737 MAX 8s were delivered, and went down just minutes after taking off, within five months of each other, they have some degre

e of similarity,” the administration said in its statement. The administration grounded all Chinese Boeing 737 MAX 8 jets on March 11.

“With China suspending the airworthiness certificate for the Boeing 737 MAX 8, domesti

c airlines are unable to purchase this model,” Li said, adding that it will undoubtedly cause great economic losses to Boeing.

As of the end of January, the Boeing 737 MAX family had 5,011 orders worldwide, of which 3

50 had been delivered. More than 420 orders came from China, with 96 already in commercial operation.

The future of the commercial aviation market in China is very exciting, Li said, and no othe

r country has more demand for aircraft. But safety questions are hindering Boeing, Li said.

A Southwest Airlines Boeing 737 MAX 8 heading to the California desert for parking during a global ban of the aircraft m

ade an emergency landing on Tuesday due to an engine-related problem shortly after takeoff, according to the carrier.

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Top court’s new IP tribunal upholds French firm’s patent

The top court on Wednesday ruled in favor of a French global automotive supplier in a patent dispute

with two Chinese car accessory companies amid the country’s intensified efforts to protect intellectual property rights.

It was also the first public hearing by the Intellectual Property Court of the Supreme People’s Court since the special court was set up on Jan 1.

Valeo Systemes d’Essuyage, one of the world’s leading auto component providers, sued X

iamen Lukasi Car Accessories Co and Xiamen Fuke Wiper Co, two companies based in Fujian pro

vince, claiming infringement of Valeo’s patent on a connector for windshield wipers.

An IP court in Shanghai reached a verdict on Jan 22 finding that the two Chinese companies must cease their infring

ement. The two companies appealed to the top court, insisting that their products did not infringe on Valeo’s patent rights.

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After a two-hour hearing on Wednesday, the top court up

held the original ruling, and said the two companies should stop their infringement immediately.

The Shanghai IP Court will further calculate the exact amou

nt of compensation that the two Chinese companies should pay to Valeo, accor

ding to the verdict. During the first trial, Valeo had requested compensation of 6 million yuan ($893,000).

Wednesday’s trial is of great significance as it shows China’s growing efforts in protecting IPR, the top court said in a release.

“It shows the country’s strong determination in fighting infringement, and intensif

ied judicial protection for IPR and innovation-driven development,” said Ma Yide, an intel

lectual property professor from Zhongnan University of Economics and Law who attended the hearing.

The final verdict was reached only two months after the original one.

Such a fast pace reflects improved efficiency in handling IP-related lawsuits in Chinese courts, he said.

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Ground Force tests proficiency of top officersts exam will imp

More than 200 major generals of the People’s Liberation Army Ground Force simultaneously took part in a recent examin

ation held across the nation, marking the Ground Force’s first large-scale test of its high-ranking commanders.

The examination was arranged by the Ground Force headquarters and was held earlier this month in seven loca

tions – Beijing, Fuzhou, Nanning, Lanzhou, Jinan, Urumqi and Lhasa. The largest test site was at the Ground Force Acade

my of Armored Forces in Beijing with 52 examinees, according to a statement from the Ground Force.

Experts from PLA National Defense University and inspecto

rs from the Ground Force’s disciplinary committee supervised the examination.

Participants were mostly made up of major generals and some senior colonels – commanding officers from

departments under the Ground Force headquarters, academies, schools, regional branches and training and test bases.

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More appetite among Chinese, Asian collectors for Western art

hinese and Asian art collectors have become more knowledgeable, sophisticated and are branching out for m

ore Western works, said Francis Belin, president of Christie’s Asia, who is excited about the trend.

“Chinese clients have evolved from being very dedicated to Chinese arts to gaining increasing interest

in other categories and expanding the spectrum of the type of objects that they wish to collect,” Belin told

Xinhua in an interview in New York City during Christie’s Asian Art Week held on March 19-26.

Diversity of collecting is one of three “fundamental trends” the auction house has obse

rved among the Chinese and Asian buyers, Belin said, noting the increased appetite to collect across categories.

About 10 or 20 years ago, Asian collectors focused primarily on the art that relates to their own c

ulture, he said, “we’ve seen this evolved in the past years to be much more holistic in the collecting of our Asian buyers.”

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Cities emerging into new post-Brexit financial centers

The United Kingdom’s decision to leave the European Union has led major

financial companies in London to move assets and staff to continental Europe, mea

ning the post-Brexit landscape is likely to be far more “polycentric” than it is today

and far less centered on one location.

According to a recent report by think tank The New Financial, more than 40 companies have shifted staff or oper

ations to more than one financial center within the EU, with 100 choosing the

Irish capital as a post-Brexit location, whi

ch was the most popular choice ahead of Luxembourg, with 60, Paris with 41, Frankfurt with 40, and Amsterdam with 32.

William Wright, principal author of the

New Financial Brexitometer report, said: “One of the most strikin

g findings of our analysis is the extent to which Europe will become a much more

‘multipolar’ world as a result of Brexit.”

Companies are migrating to, or expanding in, multiple financial centers, with man

y either establishing a dedicated division for EU business or spreading their staff

more evenly throughout the EU.

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As a professional writer, Chu has interviewed dozens of peop

 from across the country who moved to Dali. She and her husband, who help organize activities

such as gardening, hiking and cycling for newcomers, have a big circle of friends who have relocated to the city.

“People have different reasons for leaving, ranging from the need to take care of elderly pare

nts who have stayed in their hometowns, to taking their children back to big cities for better education,” she said.

People are also leaving because after two or three years without work, they need to find paid employment.

In recent years, thousands of people have moved to Dali from big cities. The exact number is not kno

wn, but a rough estimate from the local government shows that about 40,000 newcomers are living in the city.

Many people decided to leave their jobs and move to Dali from large cities such as Beijing, Shanghai and Guangzhou, capital of Guangdong pro

vince, due to work pressures and surging property prices, which have been hotly debated nationwide in recent years.

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resident Mu Yi moved to Dali after careful planning a

d visits to the city with his wife.

He said he decided to relocate 2,100 kilometers from the capital due to heavy smog, which ha

d caused him serious discomfort. But more important, he wanted to change his way of life.

The 45-year-old worked for a State-owned company in Beijing before moving. Since 2001, he had

been sent abroad by his company to work in countries such as Sudan, Ecuador, Iran, Syria and Iraq as chief manager for busi

ness development. However, he faced great pressure, both from work and security problems.

Mu said he had several narrow escapes from bomb attacks near his office in Iraq, where he worked for seven years.

When he returned to work at the company’s Beijing headquarters in 2015, he found he could n

ot adapt to life in the city. He had to travel for a total of three hours each day on the subway between home and work.

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