Fly direct to Hangzhou from the U.S. for as little as $493
Celebrate the Year of the Rooster with United Airlines on the only nonstop flights to Hangzhou from the U.S. Purchase by February 1, travel throughout most of the year. Fares start at $493 roundtrip. Visit United.com for details and booking.
Cashless society, cached data: Security considerations for a Chinese social credit system / Citizen Lab
The Chinese government is testing a national social credit system “that draws upon citizens’ personal data to assign unofficial credit scores.” It is partly based on data provided by private companies such as Sesame Credit, a company established by Alibaba affiliate Ant Financial, and government bureaus. Citizen Lab voices concerns that social credit and mobile finance access might be blocked to “penalize citizens for acts of protest.”
Why China keeps bailing out ailing heavy industries / SCMP
As total debt owned by companies and households in China is estimated to amount to 250 percent of annual economic output, the country is torn between saving state-owned companies to ensure their dominance in the economy and letting free-market competition eliminate underperforming companies. China “has pledged to clear up debt and get banks to finance productive activity instead of subsidizing state companies,” but the government has ruled out allowing any state companies to go bankrupt.
- China’s tech hub stocks are being left behind by its new economy / Bloomberg
- China phonemakers are taking over world’s fastest-growing market — India / Bloomberg
- China power giant gobbling up foreign players / Nikkei Asian Review
- The reasons why it’s gotten so tough — and expensive — to hail a ride in China / Quartz