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Recently, American retailer Macy’s announced that it will launch an e-commerce site in China in 2017. Will Macy’s follow the footsteps of other American giants such as e-Bay, which failed miserably, or Amazon, which couldn’t gain much footing in China? Shutterstock For Macy’s, or any other retailer large or small, the Chinese consumer […] Xiao-jie is 21. A senior in college, she is one of six million people who traveled overseas during China’s Golden Week holiday (Oct. 1-7). Japan was her destination. The trip cost about 10,000 yuan (about $1,500), which her parents paid for. As the only child in the family, Xiao-jie gets pretty much everything she wants. […] See it as a one-of-a-lifetime opportunity, Chinese e-commerce companies and global brands have sped up innovation to meet demands of Chinese consumers. […] Just as Starbucks created demand for its coffee, it can very well enjoy even greater success with tea in China. […] In a recent article in the Washington Post, “Why China won’t own next generation manufacturing,” the author Vivek Wadhwa discusses China’s new 10-year plan, called “Made in China 2025.” The plan aims to modernize China’s manufacturing with advanced technologies such as robotics, 3-D printing, cloud computing, and big data. China has committed $150 billion […] Twenty-eight years ago, I would never have imagined that the President of the United States and other world leaders would visit my hometown, Hangzhou, and discuss important matters that will affect humanity’s future. Shutterstock The Hangzhou I left behind was a backwater town, with narrow alleys and rundown dwellings. There was only one […] It was not too long ago that Apple’s iPhone was a status symbol among young Chinese middle class consumers. They would stand in a long line before the launch of a new iPhone and spend a month’s salary just to own one. This has changed. According to a Financial Times article, Chinese consumers no […] Many in the West have long disdained Chinese firms as copycats. Some believe that no innovation from China can be called original. Baidu looks like Google, they argue, Alibaba is a version of Amazon, and Tencent imitates Facebook. Wrong. In the example of Tencent’s WeChat, the Chinese social media platform, Western equivalents such as Facebook […] I am honored to be invited to speak at the Economist Innovation Summit in Hong Kong on Sept. 6, 2016. The Summit gathers entrepreneurs, venture capitalists, and industry luminaries to examine how Chinese firms have evolved from copycats to innovators, and what impact they will have on the rest of the world. A couple of […] |