China is already world leading in material science research. Last time I checked China had 50% patents on material science
AFAIR, it was biotechnology that China was lagging by a lot, behind the US
Chinese Economics Thread
- Thread starter Norfolk
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AFAIR, it was biotechnology that China was lagging by a lot, behind the US
Coupled with the closing of US Chambers of commerce in China, its clear that China is counter-attacking the anglos where it hurts: their pocketbook; no longer will Chinese tech companies go to the New York Stock Exchange for funding and allowing anglos to have control over their companies- now they can come to China and be subject to Chinese laws for a piece of China's tech talents.
Hendrik_2000
Lieutenant General
About time those billionaire give back to the society. Why they need prodding and threat from the state is beyond me. Charity and sharing wealth is tradition with overseas Chinese. Every tycoon thru ages always give back to the society where they come from by setting up foundation. In the old days it is rage to build school, road and hospitals. Now it more like giving scholarship and living expenses for poor student. Research grant etc. They also act as community leader and clan chief. Defending the right of downtrodden. The best known is Tan Kah Kee who give ALL of his wealth to built Xiamen university. But he also founded high school, vocational school all thru SEA and China. He left nothing for his descendant. They have to fend for themselves. It is remarkable if you think most of them come from landless uneducated peasant stock. But rose about themselves
His son in law Lee Kong Chian follow this tradition of charity work
Lee Kong Chian (18 October 1893 – 2 June 1967), also known as Li Guangqian or by his alias Lee Geok Kun (Li Yukun), was a prominent Chinese businessman and philanthropist active in Malaya and Singapore from the 1930s to the 1960s. He was the founder of the and one of the richest men in Southeast Asia in the 1950s and 1960s. He was also the son-in-law of , another well-known Chinese businessman and philanthropist based in Southeast Asia.
China Orders Meituan, Didi to Rectify Misconduct by Year-End
Coco LiuThu, September 2, 2021, 2:00 AM
(Bloomberg) -- Chinese regulators ordered car-hailing services run by Didi Global Inc., Meituan and Alibaba Group Holding Ltd. to rectify instances of misconduct by December, amping up scrutiny over an industry that employs millions.
Officials from the transportation ministry and other departments summoned executives from 11 companies -- including Didi, Meituan and Alibaba’s ride-sharing and navigation unit Amap -- and criticized them for disrupting fair competition and hurting the interests of drivers and passengers, according to a statement published Thursday.
Regulators highlighted violations including recruiting unlicensed drivers and the need to strengthen user data protections, they said in the notice. Some companies used “vicious” competition and undermined the safety and stability of the industry. The 11 companies were required to carry out self-inspections, fix those issues and draft compliance plans before the end of the year, according to the statement.
Meituan shares pared their gains after the notice and were little changed in Hong Kong. Alibaba’s Hong Kong shares rose 2.7%, while Didi’s stock trades in the U.S.
Beijing is moving swiftly to ensure the country’s sharing-economy behemoths improve the welfare of the millions of low-wage workers they depend on to power growth. That stems from Xi Jinping’s “common prosperity” campaign to get the private sector to share the enormous wealth accumulated during a decade-long internet boom.
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Yes because in order to get into the elite circles in the US or Europe they have to at least show that they donate money
The liberal way..
Meanwhile back in China all they do is trying to think ways on how to squeeze small business and customers
It isn't as innocuous as you think. While there are a lot of legit philanthropists most donate money for tax related reasons.
Not to mention many non profits tend to be the "make work" industries for the many, many failsons and fail daughters of the Elites of america, closely followed by journalism.
When you donate money to a US Elites' charity you're more or less bribing them; and that's not even getting to the 'non profits' that function as shakedowns; remember that Xinjiang cotton certification group?
When you donate money to a US Elites' charity you're more or less bribing them; and that's not even getting to the 'non profits' that function as shakedowns; remember that Xinjiang cotton certification group?
Hendrik_2000
Lieutenant General
The new east west gas trunk line making progress
Sep 2, 2021
The China-Russia East-Route Natural Gas Pipeline under construction made a breakthrough after its longest ever river crossing project in China was completed on Thursday.
China-Russia East-Route Natural Gas Pipeline Project Crosses Longest Ever River in China
498 viewsSep 2, 2021
The China-Russia East-Route Natural Gas Pipeline under construction made a breakthrough after its longest ever river crossing project in China was completed on Thursday.
There is already an OTC market in Beijing specialized in high-tech SMEs. Not sure if they are taking all companies on the OTC market to the new exchange or if it's intend to be an upgrade option for companies meeting stricter requirements.