China
Sina Weibo: Competition for Twitter?
Chinese microblog operator Sina Corp. already has what seems an unassailable lead over Twitter in China, thanks to the fact that Chinese government blocks access to the U.S. website for fear it could be used to spread political dissent. Now, as Sina aims to recharge its business growth by investing heavily in its microblog site, Weibo, some are speculating that the company intends eventually to take on Twitter overseas—where China’s censorship rules could flip things around and put Sina at a disadvantage. Sina is developing an English-language version of Weibo, which had over 140 million registered users at the end of April, a company spokesman said Wednesday. Sina doesn’t have a public timeline for its release and it’s still in the “first stage” of development, he said. He dismissed as speculation the possibility that Weibo could compete with Twitter. The spokesman couldn’t immediately confirm whether the English version will be a separate service or a new user interface for the current Weibo. A separate service would be a more aggressive move suggesting Sina might intend to compete globally with Twitter. The English version of Weibo will target the platform’s overseas users, who currently account for more than 10% of the total and many of whom may be overseas Chinese, the spokesman said. English-speaking foreigners in China could also use the service, he said. Just as Sina is working on new features like online games and e-commerce services to add to Weibo in Chinese, in the longer term Sina is also likely to add functions to its English version, the spokesman said. Sina already recently added an English-language user interface to its Sina Weibo iPhone app . Weibo users conduct most of the their activity on the service via mobile devices, rather than personal computers. Whether by design or not, an English Weibo would compete with Twitter for certain users. Twitter was gaining a following in China before it was blocked, along with Facebook, following deadly ethnic riots in China’s western Xinjiang region in 2009 . (Some dedicated Chinese users continue to use Twitter by using a tool like a virtual private network to run around China’s Internet censors .) Sina appears likely to police user posts on the English version of Weibo just as it does on the Chinese version, where it filters messages for sensitive content to comply with Chinese regulations . When asked if Sina will filter content on an English Weibo, the company spokesman said Sina will continue to comply with Chinese regulations. Sina Chief Executive Charles Chao in April said Sina will likely seek overseas partners for the development of Weibo. “It doesn’t compete in a foreign language and I think it’s a long shot. It’s not our top priority, but we probably will seek partners in other countries to develop our product,” he said. An English Weibo could appeal to overseas users particularly interested in China, and in the longer term Sina could aim to attract users based on Weibo’s unique features, said Mark Natkin, managing director of Marbridge Consulting in Beijing. Weibo has in some cases added features unavailable on Twitter, such as a section for comments on other users’ posts, he said. But China’s censorship rules could be a major hurdle for Sina overseas, and its services will need to meet a substantial demand not already met by Twitter or other websites, analysts said. “Really for Weibo, it’s what do you do that nobody else does? … And aren’t you affiliated with the Chinese government? Those are the two questions that are really going to damage Weibo the most,” said David Wolf, chief executive of Wolf Group Asia, a Beijing-based marketing strategy firm. –Owen Fletcher
Chinese microblog operator Sina Corp. already has what seems an unassailable lead over Twitter in China, thanks to the fact that Chinese government blocks access to the U.S. website for fear it could be used to spread political dissent. Now, as Sina aims to recharge its business growth by investing heavily in its microblog site, Weibo, some are speculating that the company intends eventually to take on Twitter overseas—where China’s censorship rules could flip things around and put Sina at a disadvantage. Sina is developing an English-language version of Weibo, which had over 140 million registered users at the end of April, a company spokesman said Wednesday. Sina doesn’t have a public timeline for its release and it’s still in the “first stage” of development, he said. He dismissed as speculation the possibility that Weibo could compete with Twitter. The spokesman couldn’t immediately confirm whether the English version will be a separate service or a new user interface for the current Weibo. A separate service would be a more aggressive move suggesting Sina might intend to compete globally with Twitter. The English version of Weibo will target the platform’s overseas users, who currently account for more than 10% of the total and many of whom may be overseas Chinese, the spokesman said. English-speaking foreigners in China could also use the service, he said. Just as Sina is working on new features like online games and e-commerce services to add to Weibo in Chinese, in the longer term Sina is also likely to add functions to its English version, the spokesman said. Sina already recently added an English-language user interface to its Sina Weibo iPhone app . Weibo users conduct most of the their activity on the service via mobile devices, rather than personal computers. Whether by design or not, an English Weibo would compete with Twitter for certain users. Twitter was gaining a following in China before it was blocked, along with Facebook, following deadly ethnic riots in China’s western Xinjiang region in 2009 . (Some dedicated Chinese users continue to use Twitter by using a tool like a virtual private network to run around China’s Internet censors .) Sina appears likely to police user posts on the English version of Weibo just as it does on the Chinese version, where it filters messages for sensitive content to comply with Chinese regulations . When asked if Sina will filter content on an English Weibo, the company spokesman said Sina will continue to comply with Chinese regulations. Sina Chief Executive Charles Chao in April said Sina will likely seek overseas partners for the development of Weibo. “It doesn’t compete in a foreign language and I think it’s a long shot. It’s not our top priority, but we probably will seek partners in other countries to develop our product,” he said. An English Weibo could appeal to overseas users particularly interested in China, and in the longer term Sina could aim to attract users based on Weibo’s unique features, said Mark Natkin, managing director of Marbridge Consulting in Beijing. Weibo has in some cases added features unavailable on Twitter, such as a section for comments on other users’ posts, he said. But China’s censorship rules could be a major hurdle for Sina overseas, and its services will need to meet a substantial demand not already met by Twitter or other websites, analysts said. “Really for Weibo, it’s what do you do that nobody else does? … And aren’t you affiliated with the Chinese government? Those are the two questions that are really going to damage Weibo the most,” said David Wolf, chief executive of Wolf Group Asia, a Beijing-based marketing strategy firm. –Owen Fletcher
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Sina Weibo: Competition for Twitter?
China
China Unveils Plan to Upgrade Industrial Equipment
China unveiled a comprehensive action plan for upgrading industrial equipment, with a focus on driving technological innovation and economic growth. The plan, released on April 9, 2024, aims to enhance competitiveness and sustainability within the manufacturing sector through extensive investment and regulatory support.
China announced an ambitious action plan for industrial equipment upgrading, which aims to drive technological innovation and economic growth through extensive investment and regulatory support.
On April 9, 2024, China’s Ministry of Industry and Information Technology (MIIT) and six other departments jointly released a notice introducing the Implementation Plan for Promoting Equipment Renewal in the Industrial Sector (hereafter referred to as the “action plan”).
Finalized earlier on March 23, 2024, this comprehensive action plan addresses critical issues related to technological innovation and economic development. It reflects China’s proactive stance in enhancing competitiveness and sustainability within its manufacturing sector. The initiative underscores the recognition of industrial equipment upgrading as a top policy priority.
The scope of China’s action plan to upgrade industrial equipment in manufacturing, is extensive, covering various aspects such as:
In line with China’s ambitious goals for industrial modernization and sustainable development, the action plan outlines several key objectives aimed at driving substantial advancements in the industrial sector by 2027.
These objectives encompass a wide range of areas, from increasing investment to enhancing digitalization and promoting innovation, including:
The objectives and key actions proposed in the action plan are summarized below.
This article is republished from China Briefing. Read the rest of the original article.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.
China
China deepens engagement with new Indonesian president as top diplomat visits Jakarta
China’s top diplomat met the outgoing Indonesian president and his successor in Jakarta on Thursday, as Beijing deepened its engagement with future leader Prabowo Subianto, amid a competition for regional influence with the United States.
The meeting with Chinese Foreign Minister Wang Yi was part of a joint commitment to advance the partnership between the two countries, said Prabowo, who visited Beijing in early April after his landslide win in the February general election.
“It is a great honor for me to welcome him [Wang] today. Thank you for the kind reception I received in Beijing a few weeks ago,” Prabowo said, according to an Indonesian defense ministry statement.
Chinese President Xi Jinping had invited Prabowo to visit, and the latter accepting the invitation raised eyebrows in Indonesia because no president-elect had made a foreign visit such as this one without being sworn in. China is Indonesia’s largest trading partner.
Wang, too, mentioned Prabowo’s Beijing trip, according to the same statement.
“We really appreciate and welcome Defense Minister Prabowo’s visit to China,” he said.
“We are committed to continuing to increase bilateral cooperation with Indonesia, both in the defense sector and other fields such as economic, social and cultural.”
Wang is scheduled to go to East Nusa Tenggara province on Friday to attend the China-Indonesia High-Level Dialogue Cooperation Mechanism, a process to support more effective bilateral cooperation. His Jakarta stop was the first of a six-day tour that also includes Cambodia and Papua New Guinea.
Prabowo and Wang discussed cooperation in the defense industry and sector, with potential measures such as educational and training collaboration, as well as joint exercises, said Brig. Gen. Edwin Adrian Sumantha, spokesman at the Indonesian defense ministry.
In fact, the ministry statement said that “China is Indonesia’s close partner and has had close bilateral relations, especially in the defense sector, for a long time.”
Of course, China has also invested billions of U.S. dollars in infrastructure projects in Indonesia, including as part of Beijing’s Belt and Road Initiative – the Jakarta-Bandung high-speed train, which began commercial operations in October 2023, is one such BRI project.
The two countries have drawn closer during outgoing President Joko “Jokowi” Widodo’s two terms, and Beijing would like that to continue as the U.S. tries to catch up with China’s gargantuan influence in Southeast Asia, analysts have said.
Indonesia, China call for ceasefire in Gaza
Both Indonesia and China shared the same position on Israel’s devastating attacks on Gaza, said Wang’s Indonesian counterpart, Retno Marsudi.
Israel’s air and ground strikes have killed more than 33,000 Palestinians following the Oct. 7 attack on the Jewish state by Palestinian militant group Hamas, which killed around 1,100 Israelis.
“We … have the same view regarding the importance of a ceasefire in Gaza and resolving the Palestinian problem fairly through two state solutions,” Retno told reporters in a joint press conference after meeting with Wang.
“Indonesia will support full Palestinian membership in the U.N. Middle East stability will not be realized without resolving the Palestinian issue.”
For his part, Wang slammed Washington for repeatedly vetoing resolutions calling for Israel to end the attacks on the Palestinian territory it occupies.
“The conflict in Gaza has lasted for half a year and caused a rare humanitarian tragedy in the 21st century,” Wang told the media at the same press conference, according to the Associated Press.
“The United Nations Security Council responded to the call of the international community and continued to review the resolution draft on the cease-fire in Gaza, but it was repeatedly vetoed by the United States.”
The conflict in the Middle East offered a strategic opportunity for China to further expand its influence in Southeast Asia, said Muhamad Arif, a lecturer in international relations at the University of Indonesia.
“China is trying to strengthen its position as a key player in the region,” Arief told BenarNews.
China could present an alternative approach to the conflict in Gaza, he said, which may find approval in Southeast Asia’s largest country, Indonesia, and other Mulism-majority states in the region, such as Malaysia and Brunei.
BenarNews is an RFA-affiliated online news organization.
Read the rest of this article here >>> China deepens engagement with new Indonesian president as top diplomat visits Jakarta
China
New Publication: A Guide for Foreign Investors on Navigating China’s New Company Law
The sixth revision of China’s Company Law is the most extensive amendment in history, impacting foreign invested enterprises with stricter rules on capital injection and corporate governance. Most FIEs must align with the New Company Law by July 1, 2024, with a deadline of December 31, 2024 for adjustments. Contact Dezan Shira & Associates for assistance.
The sixth revision of China’s Company Law represents the most extensive amendment in its history. From stricter capital injection rules to enhanced corporate governance, the changes introduced in the New Company Law have far-reaching implications for businesses, including foreign invested enterprises (FIEs) operating in or entering the China market.
Since January 1, 2020, the Company Law has governed both wholly foreign-owned enterprises (WFOEs) and joint ventures (JVs), following the enactment of the Foreign Investment Law (FIL). Most FIEs must align with the provisions of the New Company Law from July 1, 2024, while those established before January 1, 2020 have bit more time for adjustments due to the five-year grace period provided by the FIL. The final deadline for their alignment is December 31, 2024.
In this publication, we guide foreign investors through the implications of the New Company Law for existing and new FIEs and relevant stakeholders. We begin with an overview of the revision’s background and objectives, followed by a summary of key changes. Our in-depth analysis, from a foreign stakeholder perspective, illuminates the practical implications. Lastly, we explore tax impacts alongside the revisions, demonstrating how the New Company Law may shape future business transactions and arrangements.
If you or your company require assistance with Company Law adjustments in China, please do not hesitate to contact Dezan Shira & Associates. For more information, feel free to reach us via email at china@dezshira.com.
This article is republished from China Briefing. Read the rest of the original article.
China Briefing is written and produced by Dezan Shira & Associates. The practice assists foreign investors into China and has done since 1992 through offices in Beijing, Tianjin, Dalian, Qingdao, Shanghai, Hangzhou, Ningbo, Suzhou, Guangzhou, Dongguan, Zhongshan, Shenzhen, and Hong Kong. Please contact the firm for assistance in China at china@dezshira.com.
- China Unveils Plan to Upgrade Industrial Equipment
- China deepens engagement with new Indonesian president as top diplomat visits Jakarta
- New Publication: A Guide for Foreign Investors on Navigating China’s New Company Law
- Lingang New Area in Shanghai Opens First Cross-Border Data Service Center to Streamline Data Export Process
- A Concise Guide to the Verification Letter of Invitation Requirement in the China Visa Process
- Uyghurs remember 1990 Baren Uprising over China’s forced abortions
