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The Best Reads of the Week From Caixin

Tragedy struck in southwest China this week when a magnitude 7 earthquake killed 21 people and sent boulders rolling to smash cars and buses, snap trees and pulverize brick homes. Gripping CCTV video captured the devastation.

In other news, China’s population of internet users now tops the population of Europe — fueled in part by the ease of ordering and paying for goods and services here.

If that mobile buying is for luxury goods, consumers are getting some sticker shock. Luxury goods sell for 50% more in China than in France and Italy, and 20% more than the global average, according to a new study.

All the collection of data about internet users is giving regulators a headache. A new security law has gone into effect, but is the genie already out of the bottle?

We also looked at China’s strategic shift to services, exploring whether the move to be less dependent on investment and exports can create the high-wage, high-productivity jobs needed to sustain a relatively fast rate of GDP growth.

These are stories and images I don’t want you to miss.

Please share your comments to me on The Weekender section and on our other coverage at news@caixin.com.

Kind regards,

Deb Price

Managing editor of Caixin Global

 

Video: Quake Sends Boulders Rolling to Crush Cars, Buses Like Toys

Landslide turns highway in southwestern province into junkyard of wrecked vehicles, collapsed buildings

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China Now Has 751 Million Internet Users, Equivalent to Entire Population of Europe

Surging popularity of mobile services such as online takeout, bike-sharing drives 2.7% increase in country’s online population in first half of 2017

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A new report says that 96.3% of internet users in China had access through their cellphones, an increase of 1.2 percentage points from the end of last year. Above, volunteers in Kaifeng, Henan province, demonstrate how to surf the internet on smartphones in April 2016. Photo: IC


Luxury Goods Sell for 50% Higher in China Than in France or Italy

Chinese market 20% pricier than global average, despite slowing economy, downward adjustments for prices of high-end items

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Chinese consumers on average pay a 55% premium over prices in France for luxury watches and jewelry, and a 40% markup on luxury handbags. Photo: Visual China


Big-Data Collection Becomes Big Headache in China

Personal information has been improperly collected and traded, sources say, but a tough new cybersecurity law is sending chill through booming industry

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China's lucrative market in internet users' personal information has sparked concern about privacy leaks. Photo: Visual China


Can Services Save China?

Economy’s shift from manufacturing to services faces challenges amid slow progress in opening markets and falling growth in productivity

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China's growing services sector reached a milestone in 2015, when it accounted for more than 50% of gross domestic product. Above, a nursing employee bathes a newborn at a postpartum care center in Qinhuangdao, Hebei province, on March 29. Photo: IC


 

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