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Fons Tuinstra
President China Speakers Bureau, new media advisor
President China Speakers Bureau, new media advisor

Fons's posts

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Ant Financial's strategy to go global - Ben Cavender

Alibaba's Ant Financial investment of US$200 million into the Korean mobile payment service Kakao Pay illustrates how the leading Chinese payment platform want to gain global dominance, says business analyst Ben Cavender to Reuters. Buying into strong local players is smarter than competing with them.

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Chinese Commerce Minister Warns of 'Reaction' if US Imposes Tariffs - Caixin

Chinese and U.S. economic interests are so interwoven that the consequences of a trade war would be too costly to afford, the Chinese commerce minister said Tuesday, but he also warned of a “reaction” if Washington were to impose punitive tariffs on Chinese goods.
“If the U.S. introduces detailed plans, China will assess them in a serious manner and react in accordance with the result of the assessment,” Gao Hucheng said at a news conference in response to a question about whether Beijing is prepared to deal with a potential rise in tariffs.

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Stop Creating Bike Sharing Companies, China!

The following news release left me bewildered. Why can't businesses in China stop ruining a creative idea? Why must they copy to death and spoil something so innovative?!

Yet another bicycle sharing company has been born to launch dockless bikes in Zhuhai and Beijing. The company, named getb, claims to be the "world's first versatile, intelligent, dockless shared bike brand," which is untrue or at best is an "alternative fact."

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China to Draft Rules to Rein in Asset Management Risks - Bloomberg

China’s financial regulators are working together to draft sweeping new rules for the country’s rapidly-expanding asset-management products that aim to make it clear there’s no government guarantees on such investments, according to people familiar with the matter.

The draft rules would apply to products issued by banks, insurers, brokerages and other financial institutions, said the people, who asked not to be identified because the discussions are private. The rules would be phased in after existing products mature, and would only apply to new issues, they added.

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Foxconn to hire its biggest intake of Chinese college graduates - SCMP

Foxconn, the biggest assembler of electronic devices for Apple, is to recruit 12,000 college graduates plus 6,000 students who have completed their studies at vocational schools in China this year.
It marks the biggest college recruitment campaign undertaken by the giant electronics firm, which employs more than a million workers in its factories across China.

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Top Beermakers Struggle With China's Changing Tastes - Bloomberg

Brewers are finding it tough in China, the world's largest beer market.

Consumption volume has declined in the last two years, and is set to continue to do so for the next five, according to BMI Research. The reasons include intense competition, changing tastes, growing health awareness and a slower economy, which is squeezing out lower-income consumers, the research arm of Fitch Group said.

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Baidu Obtains Government Approval To Launch National AI Lab

Chinese search engine giant Baidu Inc. has obtained approval from the country's National Development and Reform Commission to launch an engineering laboratory of deep learning technologies and their applications, according to a company announcement.

The laboratory conduct research in seven areas including deep learning, computer vision, machine hearing, biometric identification, human-computer interaction, standardized services and intellectual property in deep learning.

It will also participate in the joint development of national laboratories for big data system software and brain-like intelligent technologies and application.

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Jack Ma's Ant Financial pushes into Korea with US$200m investment - TechinAsia

Ant Financial, a spin-off from Jack Ma’s online shopping empire and maker of China’s top mobile wallet app, today announced the latest in its series of overseas investments.

The Chinese company is investing US$200 million into South Korea’s Kakao Pay, a soon-to-launch subsidiary of messaging app KakaoTalk that will allow people to make cashless payments through their phones both for purchases on the web and in stores.

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China's Richest Man Faces First Stumble In Hollywood Foray

China's richest man, Dalian Wanda Group's chairman Wang Jianlin, with an estimated net-worth of US$31.3 billion, may have suffered his first Hollywood flop, learning the hard way that "there's no business like show business."

The Great Wall, a 2016 action film directed by well-known Chinese director Zhang Yimou and starring Matt Damon, had a disappointing debut weekend in North America, with box office returns falling far short of the company's revenue target.

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Foreign investment is not leaving China: commerce minister - Reuters

China's commerce minister on Tuesday sought to assuage concerns that foreign investment is leaving the country, saying claims to that effect were "biased."

In comments made to reporters, Gao Hucheng didn't elaborate on the ministry's views though data over the past few months have shown a pick up in fund outflows.

"In recent years some products have indeed moved offshore but at the same time many high-end industries have moved to China," Gao told reporters.
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