Chinese Economics Thread

[PiSigma]

No certification

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Android is free and open source and will probably remain free for ZTE to use without Google's involvement. Reuters' source is probably referring to the Google apps, which aren't sold to device makers but are carefully licensed to them in exchange for

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. The Google apps package includes popular services like Gmail and Google Maps, and it also unlocks the Play Store, Google Play Services, and the entire Android app ecosystem.

Whatever. No one in China use google apps anyways. Remember google took the CIA's side so got booted out. Just like FB is still wondering why they can't get in and forgot the whole Cambridge analytics thing.

 

[Jura The idiot]

now I read
China has most business entities in the world
Xinhua| 2018-04-21 02:40:19

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China tops the world in the number of business entities thanks to years of market access reform.

There were 100.24 million business entities across the country in March, including enterprises and individually-owned businesses, according to the State Administration for Market Regulation (SAMR). The figure makes China the largest nation of entrepreneurs in the world.

Individually-owned businesses make up nearly 70 percent of the number.

China had less than 500,000 business entities 40 years ago when it initiated reform and opening up.

The number boomed during the past five years as the government stepped up effort to loosen restrictions on business registration. Business entities jumped 70 percent from 2012 to 2017. Fifty thousand new entities are registered each day.

"One million used to be unimaginable," He Xin, president of China Society of Market Supervision, said, attributing the growth to government efforts to cut red tape.

China has greatly relaxed market access to allow people to set up their own businesses, with 87 percent of approval items either reduced or canceled.

During the past five year, the high-tech industry witnessed rapid growth, and new service companies accounted for nearly 80 percent of registrations. Private businesses became the biggest employer, creating 40 percent of new urban jobs.

The World Bank data showed China improving by 18 places in ease of doing business in the past five years, and by 65 places in ease of setting up businesses.

 

[vincent]

Whatever. No one in China use google apps anyways. Remember google took the CIA's side so got booted out. Just like FB is still wondering why they can't get in and forgot the whole Cambridge analytics thing.

No more sales of ZTE phones outside of China either since other countries get Google Apps

 

[Quickie]

No more sales of ZTE phones outside of China either since other countries get Google Apps

I'm quite sure for privacy reasons the identity of the phone and its user is not revealed during the download. If people find out that Google Apps require those information, no one will want to use their apps.

 

[Jura The idiot]

now I read
China's financial risks "broadly contained," central governor says
Xinhua| 2018-04-22 04:30:03

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China's financial sector has remained sound with risks "broadly contained," Yi Gang, governor of the People's Bank of China (PBC), the central bank, said here on Saturday.

In 2017, the leverage ratio "increased slightly" for China's non-financial sector and "declined somewhat" for the corporate sector, while the leverage of the financial sector "has been contained," Yi said in a statement to a meeting of the International Monetary Fund (IMF)'s policy setting committee.

At the same time, the Chinese government "has been vigorously pushing forward" the reform of the financial regulatory system, with the Financial Stability and Development Committee under the State Council established late last year, Yi told the semi-annual International Monetary and Financial Committee (IMFC) meeting.

"The general direction for the reform is to strengthen integrated supervision and regulation, separate formulation of regulatory policies and rules from implementation, and at the same time enhance the function of the PBC in exercising macroprudential regulation and safeguarding against systemic risks," he said.

For example, the China Banking and Insurance Regulatory Commission (CBIRC) was recently created by merging the banking and insurance regulators, and the central bank was assigned responsibilities for formulating major banking and insurance laws and regulations.

"In general, the Chinese economy has solid fundamentals and numerous policy tools available to prevent systemic risks," Yi said.

The central bank governor also said China will vigorously push forward the reform and opening-up of the financial sector and "significantly relax market access restrictions."

At the Boao Forum for Asia annual conference in China earlier this month, Yi disclosed a timetable to further open up China's financial sector, signaling fast progress in implementing the country's opening-up promises.

In terms of trade frictions around the world, Yi said all parties should commit themselves to preserving "an open and rules-based multilateral trade system," and use this system to resolve trade disputes while pushing for greater global integration of trade and investment.

"Furthermore, these countries need to continue to implement the financial reforms in a collaborative manner and improve the stability and resilience of the international monetary system," he said.

According to the governor, China will continue to support multilateralism and an open and rules-based multilateral trade system under the WTO framework, and will strengthen its cooperation with all parties.

 

[Jura The idiot]

I sure didn't read
A giant indoor farm in China is breeding 6 billion cockroaches a year. Here's why

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(now noticed through the headline here

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while web browsing on the train)

 

[plawolf]

No more sales of ZTE phones outside of China either since other countries get Google Apps

More likely it pushes all Chinese mobile companies to band together to create a credible alternative to the Google playstore and iTunes.

Chinese manufacturers combined now has enough market share to make such an alternative viable, and if Samsung gets onboard, the American firms will be in the minority.

Cost, shortsightedness, and rivalry had meant all previous attempts had been piecemeal and ineffective, but now there is a real and serious threat to focus minds (maybe with some Chinese government strong arming in the background), I think it will only be a matter of time before a Chinese rival ecosystem develops.

Another reason why this move is so short sighted and ultimately counter productive.

The US can only hurt individual Chinese companies, and in doing so, it galvanises all the rest.

For it to put in measures to effectively threaten the entire Chinese high tech sector would mean Beijing would have little left to loose to not use its own nuclear option and ban rare earth exports to the US, which will be a far more fundamental and existential threat to the entire US high tech industry.

 

[siegecrossbow]

More likely it pushes all Chinese mobile companies to band together to create a credible alternative to the Google playstore and iTunes.

Chinese manufacturers combined now has enough market share to make such an alternative viable, and if Samsung gets onboard, the American firms will be in the minority.

Cost, shortsightedness, and rivalry had meant all previous attempts had been piecemeal and ineffective, but now there is a real and serious threat to focus minds (maybe with some Chinese government strong arming in the background), I think it will only be a matter of time before a Chinese rival ecosystem develops.

Another reason why this move is so short sighted and ultimately counter productive.

The US can only hurt individual Chinese companies, and in doing so, it galvanises all the rest.

For it to put in measures to effectively threaten the entire Chinese high tech sector would mean Beijing would have little left to loose to not use its own nuclear option and ban rare earth exports to the US, which will be a far more fundamental and existential threat to the entire US high tech industry.

America has huge rare-earth deposits that haven't been mined yet. I don't think it'll do much if China bans rare earth exports to the U.S.

 

[hkbc]

More likely it pushes all Chinese mobile companies to band together to create a credible alternative to the Google playstore and iTunes.

Chinese manufacturers combined now has enough market share to make such an alternative viable, and if Samsung gets onboard, the American firms will be in the minority.

Cost, shortsightedness, and rivalry had meant all previous attempts had been piecemeal and ineffective, but now there is a real and serious threat to focus minds (maybe with some Chinese government strong arming in the background), I think it will only be a matter of time before a Chinese rival ecosystem develops.

Another reason why this move is so short sighted and ultimately counter productive.

The US can only hurt individual Chinese companies, and in doing so, it galvanises all the rest.

For it to put in measures to effectively threaten the entire Chinese high tech sector would mean Beijing would have little left to loose to not use its own nuclear option and ban rare earth exports to the US, which will be a far more fundamental and existential threat to the entire US high tech industry.

Most of ZTE's revenues comes from selling telecommunications kit to carriers, ZTE's export handset business is primarily white label to carriers (AT&T, Vodafone, Telus, Telstra etc) which is why the US has leverage.

There is already a fully fledged alternative Chinese ecosystem Baidu, Tencent, Alibaba its just not with the handset manufacturers, the competitive nature of the Chinese telecoms manufacturing sector encourages innovation, the idea they should form some sort of Cabal is counter productive.

The US can only hurt Chinese companies that choose to operate in the US and are reliant on US supply chains, c.f. ZTE and Huawei's business approaches. The US handset market is already saturated, growth markets are places like the Indian subcontinent, Latin America, sub saharan Africa, there's a huge world outside of America and the whole belt and road initiative is aimed at opening up those markets.

Finally, there's little need to keep going on about rare earth metals as a 'nuclear option', rare earth metals aren't that rare China has simply invested in building an end to end supply chain and infrastructure that creates a high hurdle to market entry, if supply is reduced and prices go up then it will erode that barrier to entry just as the OPEC oil price hikes in the 70s made North Sea Oil production viable.

 

[vincent]

America has huge rare-earth deposits that haven't been mined yet. I don't think it'll do much if China bans rare earth exports to the U.S.

Can mining and processing operation be set up in a year? Probably take the same amount of time for Chinese companies to develop domestic equivalents