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 email@example.com.
Managing editor of Caixin Global
Landslide turns highway in southwestern province into junkyard of wrecked vehicles, collapsed buildings
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
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
Chinese market 20% pricier than global average, despite slowing economy, downward adjustments for prices of high-end items
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
Personal information has been improperly collected and traded, sources say, but a tough new cybersecurity law is sending chill through booming industry
China's lucrative market in internet users' personal information has sparked concern about privacy leaks. Photo: Visual China
Economy’s shift from manufacturing to services faces challenges amid slow progress in opening markets and falling growth in productivity
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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- 2Chinese Universities, Media Climb Steep Learning Curve to 21st Century
- 3American Airlines Taxis Closer to L.A.-to-Beijing Takeoff
- 4Central Bank Pledges Continued Stable Monetary Policy
- 5Central Bank Pushes Payment Companies to Connect With New Clearinghouse
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas