icts appear to have a religious or ethnic basis, some scholars believe their root cause may be economic, with ethnic divisio
s serving as a way to exclude other groups from access to scarce resources and opportunities. Whatever its so
urce, inequality of opportunity has a highly disruptive effect on governance and hence growth.
But these obstacles are not insurmountable. For one th
ing, developing countries now have huge potential export markets in middle-inc
ome countries, and no longer depend entirely on advanced economies for access to global markets.
There is also a renewed awareness of the importance of infrastructure in e
nabling growth. In addition to roads, railways and ports, electricity and digital conn
ectivity are crucial. In this regard, the rapid expansion of cellular wireless technology, combined with the install
ation of high-capacity undersea broadband pipes around Africa, represents major prog
s become a driving force behind economic growth, and interne
t companies should concentrate on making breakthroughs in core technologies.
“The country is narrowing the gap with developed countries, especially in autonomo
us driving, cooperative vehicle-infrastructure systems and intelligent transportation. We started a little late, but o
ur pace is faster and our potential is bigger,” said Robin Li, chairman and CEO of leading Chinese search engine Baidu Inc.
He noted that AI will have an impact on the internet and China should firmly grasp the historic opportuni
ties of AI, and the country’s efforts in technological innovations will begin gradually changing the world.
Pony Ma, chairman and CEO of Tencent Holdings Ltd, said the e-government is becoming the driving force for cons
truction of a digital China and high-quality social and economic development, and internet firms should co
nsolidate basic research and focus on making breakthroughs in core technologies.
hinese sales of passenger vehicles, MPVs, SUVs and minivans in March dropped 12 percent on a yearly basis to 1.78 million units.
This is the 10th consecutive monthly decrease, according to the C
hina Passenger Car Association (CPCA), Changjiang Times reported.
The MPV sector saw the largest sales decline, 20.2 percent to 130,000 units in the pas
t month, while SUVs and sedans dropped 10.7 and 12 percent, respectively.
The decreases in 2019’s first quarter are mild compared with those at the end of the last year, CPCA said.
As the State-VI emission standards will be implemented from July 1 this
year, some Japanese brands have launched corresponding products ahead of their co
unterparts, and performed well in sales and consumer confidence, CPCA said.
“Automobile sales in North China, and those in the county and township level, are still weak,” the association added.
hinese women are buying more for themselves than they have in the past, according to a new report on Chinese women’s consumption.
The report was released one day before this year’s International Women’s Day by Alibaba’s e-commerce platform, Tmall.
More women are spending to please themselves instead of other
people, the report said. Tmall’s data showed that women’s consumption of books, tourism expe
riences, wire-free bras, flat shoes, flowers and other “treat-yourself” products continues to grow significantly.
Women born in the 1980s placed a total of 48.06 million book orders on
Tmall in the past year, while according to data from Fliggy, Alibaba’s travel arm, the same
group spent most on travel, China’s Hong Kong, Japan, Thailand, China’s Macao and Singapore their favorite destinations.