China’s Digital Powerhouse Shenzhen is at a Crossroads of Industry Upgrading
Shenzhen’s huge electronic industry network has already been in shock. In the past three years, the pandemic and the unexpected trend of anti-globalization have put Shenzhen in a difficult position. Similar industrial transfers have also occurred in other sectors of Shenzhen’s economy. In the future, Shenzhen will mainly attract high-quality innovative talents, people who provide urban public services, and a small number of people who come to Shenzhen to enjoy life.
Shenzhen does not belong to anyone; it belongs to a creative crowd. One after another, innovative enterprises declined and rose. When the cost is too high and it is difficult to make a profit, the tide of the industry will fade. Once the cost falls, new industries will come up. Similar to Silicon Valley, Shenzhen is also a city of innovation and economic cycle.
China’s Electric Car Startups Could Draw Insights From Tesla
In the eyes of many fans, Tesla is cool, as well as a symbol of innovation and even fashion. Even though it has become increasingly ubiquitous in the streets of Beijing, Shanghai, Guangzhou and Shenzhen, Tesla’s brand halo as a representative of new energy vehicle innovation has not dissipated.
While in the eyes of new energy start-up car makers, Tesla is undoubtedly a pioneer example, paving the way for latecomers. But young businesses have figured out that there’s no point in copying Tesla, and it’s time to go their own way. After the start-up phase, Tesla has been deeply embedded in the market cultivation and industrial development of China’s EV industry for at least the past ten years. Tesla and China’s market are actually complementing and promoting each other in the new energy industry. This innovative star company, with its investment and business operations in China will be a useful source of experiences and wisdom for other multinational corporations. Tesla’s development path in China has also brought important inspiration to the global layout of Chinese companies.
Europe Being Hit by Extreme Heatwaves Raises World Concerns About the Climate
The continuous lack of rain since early 2022 and the high temperatures since May have been assessed by European climate change experts as the worst drought crisis in 500 years. European countries were forced to take emergency response measures. This year’s drought is one of the phenomena driven by climate change. Most climatologists have pointed out that as long as humans continue to burn fossil fuel, the earth will not be able to avoid increasing heating.
Although the impacts of climate change become more apparent and more people recognize the issue as an existential crisis, we haven’t yet seen enough momentum to make a difference. Most people are still fairly ignorant of the facts, or simply believe that politicians can solve these problems with technology. Currently, global investment in combating climate warming is far from sufficient. In the next 10 years, the world may need to invest 6 trillion to 10 trillion US dollars, which is equivalent to 6%-10% of global GDP, in order to contain the harm caused by climate change.
Fosun Group Denied Rumored Regulatory Scrutiny
Guo Guangchang, a 55 year old Chinese billionaire, Chairman of Fosun International, recently broke months of silence and spoke on social media. In harsh terms, he said he would sue the media for fake reports about his business empire being under scrutiny. Fosun Group has recently reduced its shares in a series of companies, especially in Fosun Pharma, which has attracted market attention. People can’t help but wonder, what happened to Fosun Group? The frequent reduction of Fosun Group’s holdings is considered to be related to its own debt pressure and liquidity problem.
The frequent reductions in holdings this year have made Fosun Group the focus of public opinion. A company of Fosun Group recently issued a statement, stating that the company’s recent reduction and sale is a financial strategy that adheres to a balanced investment and withdrawal, not just to deal with the current market environment.