CX Daily: Turning Research Into Revenue – China’s Quest to Bring Lab Inventions to Market
TOP STORIES
Inventions?/
China leads the world in patent filings, with telecoms giant Huawei Technologies Co. Ltd. by far the largest filer internationally, yet transforming the achievements of the nation’s universities and research institutions into profitable businesses remains a challenge for inventors and innovative entrepreneurs in the world's second-largest economy.
Since 2011, China has been the global leader in patent filings, according to the World Intellectual Property Organization (WIPO). By the end of 2023, Chinese inventors had filed more than 4 million patents, the highest number worldwide and making China the first country to reach this milestone, as reported by the National Intellectual Property Administration (NIPA). ?
Port?/
Peru has amended its National Port System Law, empowering the National Port Authority to grant exclusive operational rights to private companies. The move means the dispute involving Chinese port operator Cosco Shipping Ports’ exclusive rights to operate Chancay Port terminal will be resolved quickly.
Peruvian President Dina Boluarte, who on Wednesday signed the amendment to be effective from June 8, emphasized the importance of these changes in a speech, citing Cosco Shipping’s exclusive rights to operate Peru’s Chancay Port as a positive impact. ?
Digital assets?/
Hong Kong’s drive to become a global hub for trading virtual assets (VAs) is attracting some Chinese mainland financial institutions to issue innovative blockchain-based digital financial products there, boosting the city’s profile while allowing Beijing’s regulators to observe their development and consider crafting policies for the onshore market.
Harvest Global Investments Ltd., Bosera Asset Management (International) Co. Ltd., and China Asset Management (Hong Kong) Ltd. — all Hong Kong subsidiaries of major mainland mutual fund companies — won approval from the city’s securities regulator in April to list the first batch of spot VA exchange-traded funds (ETFs) investing in cryptocurrencies.?
FINANCE & ECONOMY
Corruption?/
A deputy general manager of Citic Group Corp., a large state-owned financial conglomerate, has fallen under a corruption probe by the country’s top graft busters.
Xu Zuo, also a member of the group’s Party committee, is being investigated for suspected “serious violations of discipline and law,” according to a Sunday statement from the Central Commission for Discipline Inspection. The phrase is a common euphemism for corruption.
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Stocks?/
China’s stock exchanges plan to impose stricter rules and extra fees on high-frequency trading — one type of controversial trading that has been blamed for fueling market turmoil this year.
The stock exchanges in Shanghai, Shenzhen and Beijing each released draft rules on Friday for program trading — which includes quantitative trading, whereby investors employ mathematical models and algorithms to make trading decisions and execute transactions. The rules, which are similar on the three bourses, are open for public comment through Friday. ?
领英推荐
Quick hit?/
BUSINESS & TECH
Holiday?/
Domestic travel continued to rebound during the Dragon Boat Festival holiday, but per capita spending has yet to return to pre-pandemic levels, signaling that there is still some way to go before China’s tourism industry fully picks up as the economy’s uneven recovery continues to weigh on spending.
Some 110 million trips were made on the Chinese mainland during the three-day break that ended Monday, up 6.3% year-on-year and 14.6% from the same holiday in 2019, according to the Ministry of Culture and Tourism. Total tourism spending hit 40.4 billion yuan ($5.7 billion), up 8.1% on the year and a 2.6% increase from 2019. ?
Chips?/
China’s chip exports were a standout in May, as growth was buoyed by strong overseas demand and a low comparison base, but experts warn that the outlook for further expansion remains uncertain due to new U.S. tariffs.
Integrated circuit exports jumped 28.5% in May in U.S. dollar terms from a year earlier to $12.6 billion, according to data released by the General Administration of Customs on Friday. Exports rose 21.2% to $62.6 billion in the first five months of the year. ?
Batteries?/
A number of republican politicians are calling on the Biden administration to add two Chinese electric vehicle battery makers to an import ban list, accusing the companies of using forced labor in their supply chains.
Contemporary Amperex Technology Co. Ltd. (CATL), the world’s largest maker of batteries for electric cars as well as a partner to Ford, and Gotion High-Tech Co. Ltd., a battery company partially owned by Volkswagen AG, should be added immediately to an import ban list, the politicians said in two letters sent to Robert Silvers, the Department of Homeland Security Undersecretary.
Quick hits?/
China Auto Roundup?/
GALLERY
Many people in China celebrated this year’s Dragon Boat Festival by racing the long canoe-like vessels or traveling to other parts of the country over the long holiday weekend. The number of domestic trips over the three-day period rose more than 6% from the previous year to 110 million, government data showed.
Realtor Associate @ Next Trend Realty LLC | HAR REALTOR, IRS Tax Preparer
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