World feels it when spending habits of 500 million Chinese change – Asia Times

China’s financial rocket ride appears to be coming to an end, or at least slowing down. After the property developer Evergrande collapse in 2024, growth dropped from 8.4 % in 2021 to 4.5 % today, youth unemployment increased to 16.9 %, and cities are rife with unfinished buildings.

On Chinese social media platforms Weibo and Red Note, a term has been circulating for a while to sum up what’s happening: “garbage day.”

It is used to refer to the final days of a match whose goal is already known. The best athletes don’t play. The chair people assume the lead. Because there is less at stake, no single tries as difficult.

The phrase seemed to get a combination of anguish and dark humor last year and seemed to have caught on. Citizens then generally seem to have less expectation. Not so much an economical fall as a sluggish decline in hope.

This is a significant change for those who were born in China during the 1980s and 1990s and who were raised there during its four years of rapid development. Jobs in technology and funding are harder to find, homes are falling in value, and wages are not rising.

However, “garbage time” is even making room for younger and middle-class Foreign to redefine victory and joy. A creation is reevaluating what is most important in a changing economic environment as fine jobs, luxury goods, and house ownership are now more difficult to obtain.

From Prada to “living lighting”

Many middle-class people in China were pursuing lofty goals ten years ago when they sent their kids abroad for education. Former president Deng Xiaoping when said,” Getting wealthy is glorious.

Some Taiwanese people totally embraced this notion. In a study of millennial consumption habits conducted in 2021, 7.6 million young Chinese spent an average of 71, 000 yuan ( US$ 10, 375 ) on luxury goods, accounting for 30 % of the global luxury market.

They now appear to be altering their course, putting that type of saving on maintain due to financial strain.

Get the “tang ping,” a growing trend that is causing more young people to reject hustle culture while embracing “living light.” Or the phrase “run xue” or “run idea,” which actually refers to the study of leaving China.

Young Chinese are getting married afterwards, also, with rising wedding expenses and changing attitudes toward traditional home values being the main causes.

Shopping practices appear to support these trends. In 2024, China’s largest used-goods owner Xianyu reached 181 million customers. Selling surpassed one trillion yuan, or ten times that of 2018. BYD, a Chinese automaker, then outsells expensive overseas companies.

More important than simply saving money is what this is about. Traditional Chinese culture values family status and career success, but job shortage and falling house prices challenge these outdated stereotypes.

Fresh Chinese are then questioning the worth of hard work in a program that may no longer reward it. They place more value on individual well-being over throwing position. If the pattern persists, it might lead to the development of a new perception of middle-class personality.

Vibrations strike the globe

The international effects of all of this are important. International businesses take notice when 500 million people alter their spending patterns.

Apple, a once-favorable manufacturer, has lost ground, while Huawei, a regional brand, gained. Li Ning, a local apparel manufacturer, is challenging Nike. Firms that had anticipated apparently endless Chinese development are now having to recalculate. Planning is made more difficult by this, along with other governmental and political complexity.

Both school and work are changing, also. Some individuals have criticized China’s rigorous education program, and its “996 work society” ( 9am to 9pm, six times a week ) is waning.

Nevertheless, China’s financial growth is sapping at a more steady rate. And the state faces significant challenges as a result of the world’s declining economic model.

China’s imports dropped at the start of this year because Donald Trump’s tax laws were looming in the background. Export increased significantly slower, but at a slower rate.

The remarkable growth of China was both the product and the beneficiary of its members of the middle class. Strong consumer confidence may be assumed because 40 % of them have seen their riches decline in recent years.

For the time being, it seems as though a new financial identity is emerging. Whether this is a long-term trend or just a proper adjustment. In any case, one thing is sure: all feels it when the country’s second-largest market changes how it spends.

Christian Yao is a mature teacher at Te Herenga Waka — Victoria University of Wellington’s School of Management.

This content was republished from The Conversation under a Creative Commons license. Study the article’s introduction.

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Trump set to unleash ‘Liberation Day’ tariffs

“COULDN’T CARE LESS” Retaliation has been a top policy of key economies, including Canada and the European Union. Canadian Prime Minister Mark Carney stated on Tuesday that” we are going to be really deliberate about the actions we take to fight for Canada.” Trump has accused the European Union ofContinue Reading

New taxi operator GrabCab could attract drivers from rivals, disrupt industry: Analysts

ADDED COMPETITION CAN RATHER TAXI OPERATORS ON THEIR TOES

The Singapore University of Social Sciences Associate Professor Walter Theseira noted that GrabCab has the opportunity to make use of the larger Grab program to encourage cab individuals to join the company, in contrast to a real car ship operator.  

For instance, this might involve paying a lower rate for a car driver with the condition that they offer the driver” a particular level of service on the platform.”  

Or, he added,” Grab could rent ( to drivers ) at the standard rate, but he could gradually rebate the rental, based on the volume of service you provided on the platform.”  

A pure ( taxi ) fleet operator cannot use these strategies, he said, despite the fact that a combined fleet operator and platform can do so.

He added that the business will promote private use drivers on its platform to transfer to be taxi drivers on GrabCab, and that they will also be urged to do the same for car drivers from other companies, in order to increase the number of drivers on the platform.  

The other vehicle users will start to see their hire usage decline as a result of this mixture, he said.  

And if they can’t compete, they will likely have to let their vehicle ship numbers decline. ” 

Terence Fan, a travel researcher, added that Grab also has the technical expertise to entice more customers to its goods.

While it is not always true that Grab will have to lower car prices to attract riders to its cars, it does, according to Asst Prof Fan, who is from the Singapore Management University, have a record of using promotional codes in diversity in its earlier days to attract new users.  

He added that the company is already equipped with the necessary IT infrastructure to provide these customer incentives in a “relatively cost-effective way”.  

According to the agreement, Assoc Prof. Ong, who is the NUS Department of Civil and Environmental Engineering’s deputy head of research and enterprise, will put pressure on the current taxi companies.  

I think that the majority of taxi operators today’s drivers rely heavily on Grab’s app to get their customers, he said.  

In this new setup, I believe we will need to look at how Grab will provide the salaries and benefits to the taxi drivers. ” 

In response to a CNA question about whether the current Grab app’s standard taxi option will be discontinued, Grab stated that it was” committed to maintaining an open platform” that was accessible to all cab and private hire vehicle drivers.

Additionally, it will provide more details about GrabCab at a later time.

Given our extensive experience in fleet management, established infrastructure, and large vehicle fleet, ComfortDelGro, which operates both the Comfort and CityCab taxi fleets and responds to inquiries from CNA, said:” We are confident in our ability to serve our long-time drivers and customers effectively.

It added that it will continue to expand its ecosystem, driver benefits, and adapt its strategies as necessary to “ensure we remain a leading provider of taxi services in Singapore,” and that competition is” a natural part of the market dynamics.”  

ComfortDelGro, Singapore’s largest taxi operator, has been providing safe and high-quality rides to Singaporeans for decades, building a strong and trustworthy taxi network, and continues to provide them with this commitment. ”

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Asia’s Best Companies Poll 2025: Industry winners | FinanceAsia

For a 25th year, FinanceAsia has published its highly regarded benchmark of Asia’s best companies.

Based on nomination by Asia’s active community of influential investors and financial analysts, the poll evaluates the corporate behaviour and performance of Asian peers over the past 12 months.

The FA team is delighted to announce the 2025 winners below for the industry categories. The market winners can be found here

Following very positive market participation, we have decided to award up to three medals per category to reflect corporate achievements. Gold, Silver and Bronze medallists are detailed where applicable.

Congratulations to all our industry winners: 

AUTOMOTIVE & COMPONENTS

India

Gold – Tata Motors

 

Indonesia

Gold – Astra International

 

Malaysia

Gold – Perodua

 

Philippines

Gold – GT Capital

Silver – NWow 

 

Taiwan

Gold – Wistron NeWeb Corporation

 

Vietnam

Gold – THACO Group

Silver – Vingroup

Bronze – Dat Bike

 

 

BASIC MATERIALS

 

India

Gold – Tata Steel

 

Philippines

Gold – Semirara Mining

Silver – Nickel Asia

Bronze – Apex Mining

 

Vietnam

Gold – GELEX Group

Silver – Stavian Chemical

Bronze – Duc Giang Group

 

CONGLOMERATES

Hong Kong SAR

Gold – Sun Hung Kai Properties Ltd

Silver – Jardine Matheson

Bronze – Swire Pacific

 

Malaysia

Gold – YTL Corporation Berhad

Silver – Hap Seng Consolidated Berhad

Bronze – Berjaya Corp

 

Philippines

Gold – Ayala Corporation

Silver – SM Investments Corporation

Bronze – GT Capital

 

South Korea

Gold – Samsung Electronics

 

Taiwan

Gold – Sercomm Corporation

Silver – Yuanta

Bronze – Far Eastern New Century Corporation

 

Thailand

Gold – STECON TB

 

Vietnam

Gold – Vingroup

Silver – Masan Group

Bronze – THACO Group

 

CONSUMER DURABLES & APPAREL

 

Hong Kong SAR

Gold – ANTA Sports Products Ltd

 

Taiwan

Gold – Far Eastern New Century Corporation

 

CONSUMER SERVICES

 

India

Gold – ITC Ltd

 

Philippines

Gold – Bloomberry Resorts Corporation

Silver – Jollibee Foods Corporation

Bronze – Max’s Restaurant

 

South Korea

Gold – Lotte Group

Silver – Hanwha Resort

 

Vietnam

Gold – Vinpearl

Silver – Sun Group

Bronze – Golden Gate Group

 

CONSUMER STAPLES

 

Indonesia

Gold – Indofood Sukses Makmur

 

Philippines

Gold – Universal Robina

Silver – Century Pacific

Bronze – Puregold

 

South Korea

Gold – Lotte Wellfood

Silver – Samyang Foods

Bronze – Dongyang Confectionery

 

Taiwan

Gold – Uni-President Enterprises Corp

 

Vietnam

Gold – Masan Consumer

Silver – Nutifood

Bronze – Bach Hoa Xanh (Mobile World)

 

ENERGY

Hong Kong SAR

Gold – CLP Holdings Ltd

 

Malaysia

Gold – Tenaga Nasional Berhad (TNB)

Silver – Yinson Holdings Berhad

 

Philippines

Gold – Aboitiz Power

Silver – ACEN Corporation

Bronze – Citicore Renewable Energy Corporation

 

South Korea

Gold – POSCO

Silver – SK Group

Bronze – Hanwha Solutions

 

Thailand

Gold – PTT Exploration and Production (PTTEP)

 

FINANCIALS

 

Hong Kong SAR

Gold – HSBC

Silver – Hang Seng Bank

 

India

Gold – Bajaj Capital

 

Indonesia

Gold – PT Bank Rakyat Indonesia (Persero) Tbk

 

Malaysia

Gold – CIMB Bank Berhad

Silver – AmFunds Investment Management Berhad

Silver – Maybank

Bronze – Hong Leong Bank Berhad

 

Philippines

Gold – Bank of the Philippine Islands

Silver – BDO Unibank

Bronze – Security Bank

 

Thailand

Gold – Siam Commercial Bank

Silver – KBANK TB

Bronze – Krung Thai Bank

 

Vietnam

Gold – Vietcombank

Silver – BIDV

 

HEALTHCARE

 

China

Gold – Kelun-Biotech

 

Malaysia

Gold – IHH Healthcare

Silver – KPJ Healthcare Berhad

Bronze – Sunway Berhad

 

Philippines

Gold – Medilines

 

Taiwan

Gold – PharmaEssentia

Silver – Bora Pharmaceuticals

Bronze – Caliway Biopharmaceuticals Co. Ltd

 

Thailand

Gold – Bangkok Dusit Medical Services PCL

Silver – Bangkok Chain Hospital PCL

Bronze – Chularat Hospital (CHG)

Bronze – Praram 9 Hospital (PR9)

 

Vietnam

Gold – Hoan My Medical Corp

Silver – Buymed

Bronze – Long Chau (FPT Retail)

 

INDUSTRIALS

Malaysia

Gold – YTL Corporation Berhad

Silver – Malayan Cement

 

Philippines

Gold – Megawide Construction Corporation

Silver – DMCI

Bronze – EEI Corporation

 

South Korea

Gold – Samsung C&T Corporation

Silver – Hyundai Engineering & Construction

 

Thailand

Gold – CH. Karnchang (CK)

 

Vietnam

Gold – Hoa Phat Group

Silver – Hoa Sen Group

 

INFRASTRUCTURE

 

Malaysia

Gold – Yinson Holdings Berhad

 

Philippines

Gold – Ayala Corporation

Silver – San Miguel

Bronze – DMCI

 

Vietnam

Gold – Deo Ca Group

Silver – Airports Corporation of Vietnam (ACV)

 

MEDIA & ENTERTAINMENT

Malaysia

Gold – Astro

 

Philippines

Gold – ABS-CBN Corporation

Silver – GMA Network

Bronze – The Manila Broadcasting Company (MBC)

 

Thailand

Gold – The One Enterprise (Onee)

 

Vietnam

Gold – Dat Viet Group

 

REAL ESTATE

 

Hong Kong SAR

Gold – Sun Hung Kai Properties Ltd

Silver – Sino Land

Bronze – Hongkong Land Holdings Limited

 

India

Gold – Godrej

 

Indonesia

Gold – Ciputra

Silver – Pakuwon Jati

Bronze – Summarecon

 

Malaysia

Gold – Pavilion REIT

 

Philippines

Gold – Ayala Corporation

Silver – Bloomberry Resorts Corporation

Silver – SM Prime Holdings, Inc.

Bronze – AREIT Inc.

 

Thailand

Gold – Central Pattana 

Silver – Land and Houses (LH)

Bronze – Pruksa Holding PCL

 

Vietnam

Gold – Vinhomes

Silver – Sun Group

Bronze – Nam Long

 

RENEWABLE ENERGY

 

Malaysia

Gold – Yinson Holdings Berhad

 

Philippines

Gold – Citicore Renewable Energy Corporation

Silver – ACEN Corporation

Bronze – Aboitiz Power

 

Thailand

Gold – Gulf Energy Development PCL

Silver – Global Power Synergy PCL

Bronze – B. Grimm Power PCL

Bronze – BCPG PCL

 

Vietnam

Gold – Bamboo Capital Group

Silver – Refrigeration Electrical

Bronze – The Green Solutions

 

 

RETAIL

 

Philippines

Gold – Robinson’s

 

South Korea

Gold – NAVER

Silver – Coupang

 

Taiwan

Gold – PCSC

Silver – Poya

Bronze – Great Tree

 

Thailand

Gold – Central Retail Corp (CRC)

Silver – Moshi Moshi Retail Corp

 

Vietnam

Gold – Imex Pan Pacific Group

 

TECHNOLOGY

China

Gold – Alibaba

Silver – Tencent

Bronze – Baidu

Bronze – Trip.com

 

Indonesia

Gold – GoTo Gojek Tokopedia

 

Philippines

Gold – IMI

Silver – NOW

 

Taiwan

Gold – Sercomm Corporation

Silver – Wistron NeWeb Corporation

Bronze – Arcadyan Technology Corporation

 

Thailand

Gold – Be8

Silver – Bbik

 

Vietnam

Gold – MoMo

Silver – FPT Corporation

 

 

TELECOMMUNICATION SERVICES

 

China

Gold – China Mobile

Silver – China Telecom

Bronze – China Unicom (Hong Kong) Ltd

 

Indonesia

Gold – Telkom

Silver – Indosat

Bronze – Telkomsel

 

Malaysia

Gold – CelcomDigi

 

Philippines

Gold – Globe Telecom, Inc.

Silver – CNVRG

Bronze – PLDT

 

South Korea

Gold – SK Group

Silver – LG

Bronze – KT

 

Taiwan

Gold – Far EasTone Telecommunications Co., Ltd

Silver – Chunghwa Telecom

Silver – Taiwan Mobile

Bronze – Sercomm Corporation

 

Thailand

Gold – TRUE TB

Silver – AIS

 

Vietnam

Gold – Viettel

Silver – VNPT

 

TRANSPORTATION

Hong Kong SAR

Gold – Cathay Pacific Airways

 

Indonesia

Gold – Kereta Api Indonesia

 

Philippines

Gold – International Container Terminal Services, Inc.

Silver – Cebu Air

Bronze – Lorenzo

 

South Korea

Gold – Korean Air

 

Thailand

Gold – Bangkok Expressway & Metro (BEM)

Silver – Namyong Terminal (NYT)

Bronze – SJWD

 

Vietnam

Gold – ACV

Silver – Vietjet

 

UTILITY SERVICES

 

Indonesia

Gold – Perusahaan Listrik Negara

 

Philippines

Gold – Manila Water Company, Inc.

Silver – Meralco

Bronze – Aboitiz Power

 

Thailand

Gold – Gulf Energy Development PCL

Silver – Global Power Synergy PCL

Bronze – B. Grimm Power PCL

Bronze – CK Power (CKP)

 


¬ Haymarket Media Limited. All rights reserved.

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Chinese PM sends condolences over Bangkok building collapse

Chinese development company told to engage with researchers

A passenger bus passes the collapsed building in Chatuchak district of Bangkok on Wednesday, as normal life resumes. (Photo: Pattarapong Chatpattarasill)
A passenger vehicle passes the fell tower in Chatuchak city of Bangkok on Wednesday, as ordinary life begins. ( Photo: Pattarapong Chatpattarasill )

Foreign Prime Minister Li Qiang has extended apologies to Thai Prime Minister Paetongtarn Shinawatra over the loss of lives and property caused by Friday’s disaster. &nbsp,

Mr Li said he was convinced that under the strong command of the Thai authorities, the Thai people would overcome this crisis and return to living ordinary lives.

China’s state-run media company Xinhua reported that Chinese Foreign Minister Wang Yi sent a message of love to Thai Foreign Minister Maris Sangiampongsa on Sunday. He likewise expressed assurance that Thai people will be able to immediately resume normal life and creation. &nbsp, &nbsp,

The Chinese ambassador issued a statemen responding to press complaints about China Railway No. 10 Engineering Group in the development of the fell State Audit Office tower in Bangkok’s Chatuchak area.

” The Taiwanese government has continuously instructed businesses running businesses abroad to strictly adhere to local laws and regulations, uphold cultural responsibilities and to contribute positively to &nbsp, society,’ ‘ the statement said.

The embassy even extended its apologies over the loss of life and injuries caused by the decline of a building being constructed by a Chinese firm.

The Chinese authorities had sent a staff of disaster recovery experts and volunteers to help the Thai rescue operation and arranged for&nbsp, Taiwanese companies in Thailand to offer huge cranes and other machinery to aid in the rescue effort, it said.

The consulate said China would remain providing complete support as requested by the Thai state. It called on the Chinese company involved in the construction to totally engage with the research into the cause of the building’s collapse.

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China urges firms to follow laws after Bangkok building collapse

The Chinese ambassador in Bangkok later on Tuesday expressed “deepest apologies” for the decline and urged businesses to” completely” comply with Thai rules. ” The Taiwanese government has consistently urged Chinese firms globally to abide by local regulations and contribute positively to the society”, the ambassador said in a TwitterContinue Reading

EdgePoint Towers appoints Ravin Vickneswaran as chief operating officer

  • Will pull the company’s perspective across Engineering, Property &amp, Operations
  • Brings over 25 years of experience in the local &amp, global company market

EdgePoint Towers Sdn Bhd, part of EdgePoint Infrastructure, a leading ASEAN-based independent telecommunications infrastructure company, has announced the appointment of Ravin Vickneswaran ( pic ) as Chief Operating Officer ( COO ) of EdgePoint Towers. Ravin has been with EdgePoint since 2021 and brings over 25 years of extensive experience in both the local and international communications industry.

As COO, Ravin may work closely with groups across the company to generate the company’s vision across several agencies, including Engineering &amp, Implementation, Property &amp, Permitting, and Operations &amp, Maintenance. He may even lead team towards enhancing service options, boosting client satisfaction, ensuring the successful implementation of ESG techniques, strengthening partnerships, and driving the adoption of new technologies. In contrast, Ravin will keep his past investment at EdgePoint, continuing to lead the Innovations group.

Speaking on his new position, Ravin shared,” As Malaysia accelerates its 5G implementation, EdgePoint Towers remains committed to delivering future-ready system that enables smooth communication. Cooperation with our customers is at the center of our approach, ensuring we provide modern and reliable options that support their growing needs”.

” Continuing to work alongside my talented colleagues, we aim to develop powerful partnerships, travel operating superiority, and play a vital role in advancing the nation’s online transformation”, he added.

Muniff Kamaruddin, CEO of EdgePoint Towers, said,” We are pleased to see Ravin advance in his career at EdgePoint. As we fast level in Malaysia, it is crucial that we expand our administration chair power, and Ravin’s experience will be important in this effort. His proven management, administrative skills, and powerful execution capabilities will be instrumental in ensuring the company’s ongoing success”.

” Ravin’s deep understanding of the industry and customer needs has enabled him to build high-performing teams who have delivered innovative solutions across various industries in Malaysia, even winning two international awards in the past three years. With his track record, we are confident that Ravin will drive our business forward and strengthen our position as a partner of choice for digital infrastructure solutions in Malaysia”, he added.

Ravin has served as Vice President of In-Building Coverage and Innovation at EdgePoint since 2021 and has been instrumental in growing the company’s IBC and small cells portfolio. Prior to joining EdgePoint, he held key senior positions in telecommunications companies in Malaysia and Myanmar, namely Head of 5G Enterprise Business at Celcom Axiata Berhad, Director of APAC Operations at Flexenclosure AB, and Manager at Maxis Communications Berhad.

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NUS expands startup hub in Tokyo to propel deep tech innovation

  • Block71 Tokyo may foster development with three key collaborations
  • Aims to support businesses, experts &amp, individuals by connecting them with shareholders

NUS Organization, the enterprising arm of the National University of Singapore ( NUS), is expanding its presence in Japan with the release of its second Block71 company in Tokyo, following its initial location in Nagoya in November 2024.

In partnership with key Japan technology money, Kyoto University, and TIS Inc., NUS Enterprise aims to support businesses, experts, and students while connecting them with investors. These partnerships coincide with Japan’s attempts to promote the development of its business ecosystem.

Located at Takanawa Gateway Link Scholars ‘ gateway, Block71 Tokyo will support Southeast Asian technology-driven businesses grow in Japan, contributing to urban development in environmental sustainability, freedom and technology, and intelligent wellbeing. It will also give Chinese companies with tools to grow into Southeast Asia and above.

” Japan’s solid foundation in technology and study makes it an excellent environment for business growth. It ranks among the world’s top three places for trademark applications and invests over three percent of its GDP in R&amp, D, one of the highest internationally. This creates enormous possibility for innovation”, said doctor Tan Eng Chye, NUS leader, at the beginning of Block71 Tokyo.

” With Block71 Tokyo located in the government’s latest innovation gateway, we have a proper program to join companies and travel cross-border engagement. To intensify our impact, we are partnering with one of Japan’s major universities, a big corporation, and a leading venture capital firm, all sharing our vision to foster deep digital innovation and build a strong global ecosystem”, he added.

Building on the success of its globally recognised Block71 model, Block71 Tokyo will promote knowledge exchange, cross-border innovation, and new opportunities for startups entering the Japanese market. To deepen its impact, NUS has signed three key partnerships:

NUS-central Japan innovation capital collaboration: Under a memorandum of understanding signed by associate professor Tee and professor Kazuya Takeda, CJIC CEO, CJIC will invest up to five percent of its assets under management in NUS-affiliated deep tech startups. The fund aims to raise approximately US$ 33 million ( RM138 million ) by November 2025. A subsidiary of the Tokai National Higher Education and Research System, CJIC supports university startups focused on deep tech innovation. NUS and CJIC will also explore broader collaboration opportunities to help startups from both ecosystems expand into the Japanese and Southeast Asian markets.

NUS-Kyoto University collaboration: NUS is strengthening entrepreneurial support for deep tech startups through a partnership with Kyoto University, formalised by an MOU signed by professor Tan and Dr Nagahiro Minato, Kyoto University president. Kyoto University will send startups to join the NUS graduate research innovation programme and will be the first overseas university partner in a localised version of the programme. This initiative will empower Kyoto University’s graduate students, researchers, and alumni to transform research into impactful deep tech ventures.

&nbsp, Both universities will also offer exchange programmes, enabling Kyoto University students to intern at NUS GRIP startups, while NUS GRIP startups gain hands-on experience from Kyoto University innovation capital co., ltd, the university’s venture capital arm. This partnership enhances the flow of entrepreneurial talent and strengthens innovation ties between the two countries.

NUS-TIS Inc. collaboration: NUS is expanding its global entrepreneurship efforts through a partnership with TIS Inc., one of Japan’s leading IT companies, to build a globally connected startup ecosystem. This collaboration, formalised through a collaboration agreement signed by professor Tan and Yasushi Okamoto, TIS Inc. group president, launches the deep tech seed to A growth expansion programme ( Deep-SAGE ), a startup acceleration initiative to help seed-stage startups scale towards pre-series A and series A funding.

TIS Inc. will commit a total of US$ 5.6 million ( RM25 million ) to support Deep-SAGE over three years, funding three cohorts of up to 10 startups each. TIS Inc. plans to invest a minimum of US$ 367, 000 ( RM1.6 million ) each in at least two startups per cohort. Block71 will design and deliver the programme, providing structured support through virtual mentorship, workshops, and incubation opportunities at its offices across 11 cities, including Singapore, Silicon Valley, Saigon, and Suzhou.
 

Through these strategic collaborations, NUS reinforces its position as a leading startup university in the global innovation landscape, nurturing entrepreneurial mindsets and empowering the next generation of technology entrepreneurs.

Following the success of its second Japan immersion programme in Nagoya in 2024, where startups gained insights into Japan’s manufacturing powerhouse, Block71 Japan will launch the third edition in Tokyo in May 2025. The 2024 programme helped startups navigate Japan’s culturally distinct business landscape, build local partnerships, secure customers, and develop proof-of-concept projects.

The 2025 edition will focus on Takanawa Gateway City’s key themes: environmental sustainability, mobility and robotics, and smart health. Five Southeast Asian startups will have the opportunity to showcase their solutions at the upcoming Gateway Tech Takanawa event, a platform for corporations and startups to exchange innovative ideas and solutions. This immersive experience will further strengthen ties between Southeast Asia and Japan, equipping startups with the knowledge and networks needed to expand into new markets and drive innovation.

” As a sub-subsidiary of the Tokai National Higher Education and Research System, CJIC has a strong commitment to support university startups focused on deep tech innovation and enhance the central Japan economy. NUS and CJIC will also explore broader collaboration opportunities to help startups from both ecosystems expand into the Japanese and Southeast Asian markets”, said Dr Kazuya Takeda, CJIC CEO.

Meanwhile, Dr Nagahiro Minato, Kyoto University president, said:” NUS and Kyoto University have collaborated in basic research for some time, but with this MOU, we will build a new relationship in industry-academia collaboration”.

” Our collaboration with NUS under the Deep-SAGE programme demonstrates TIS Inc.’s unwavering belief in the power of innovation. With this investment, we are poised to accelerate the growth of deep tech startups worldwide. This initiative not only reinforces our commitment to global entrepreneurship but also sets the stage for a new era of technology-driven growth”, said Yasushi Okamoto, TIS Inc. group president.

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Taiwan’s new fighters struggle to close airpower gap with China – Asia Times

Taiwan’s merger of upgraded F-16V fighters marks a major step forward, but does little to shut the yawning space with China’s fast developing air pressure.

Last month, many media outlets reported that the US delivered the first of 66 F-16C/D Block 70 fighter planes to Taiwan, marking a major step in a US$ 8 billion arms deal signed in 2019.

The transfer meeting, held at Lockheed Martin’s Greenville, South Carolina, shop, was attended by Taiwan’s Deputy Defense Minister Po Horng-Huei and its member to the US Alexander Yui.

The planes, to become stationed at Zhihang Air Base, will provide the recently formed 7th Tactical Fighter Wing, which is tasked with bolstering the region’s air defense amid growing dangers from China.

The Block 70 variant, the F-16V, features AN/APG-83 active electronically scanned array ( AESA ) radar, advanced electronic warfare systems, conformal fuel tanks and upgraded avionics.

These enable the carrying of a wide range of air-to-air and air-to-ground munitions, including the AGM-154 Joint Standoff Weapon. Although the first delivered jet may temporarily lack its intended electronic warfare suite due to production delays, Taiwan plans to integrate the missing systems later.

US officials highlighted the delivery as a demonstration of &nbsp, US commitment to the Taiwan Relations Act and the” Six Assurances”, underscoring continued arms sales to Taipei despite China’s opposition. Complete delivery of the 66 jets is expected by the end of 2026.

Taiwan’s new F-16V jets represent a significant improvement over its older F-16A/B fleet, which has also been upgraded to the V-standard. However, recent combat insights raise questions about their effectiveness against China’s modern airpower.

In a Defense Security Asia article last month, Yuriy Ignat, former spokesperson for Ukraine’s Air Force Command, noted that Ukraine’s upgraded F-16 AM/BM fighters – mid-life improved versions similar to Taiwan’s older models– have struggled against Russia’s Su-35s due to inferior avionics, maneuverability and weapon systems.

While Taiwan’s F-16Vs feature more advanced radar and electronic warfare systems than Ukraine’s F-16s, they could face a similar qualitative disadvantage against China’s Su-35s and its growing fleet of J-20 stealth fighters.

Likewise, Global Security notes that Taiwan’s fleet of Indigenous Defense Fighters ( IDF) is underpowered and short-range, with speculation that US political pressure has prevented Taiwan from developing long-range fighters to avoid provoking China. Although Global Security suggests that Taiwan’s IDFs may have been more advanced than any other combat aircraft China had at the time of their unveiling in the 1980s, China has since unveiled superior fighters.

Further, Steve Balestrieri mentions in a February 2025 article for 1945 that China operates 24 Su-35s, bought from Russia ostensibly as a stopgap platform until China’s J-20 stealth fighters were ready. Additionally, Maya Carlin mentions in an August 2023 article for 1945 that China has already produced 200-250 J-20 stealth fighters, marking a significant surge in production since the type was first unveiled in 2011.

It is also unlikely that Taiwan will ever operate US stealth aircraft, such as the F-35. In a December 2021 Aviation Geek Club article, Zack Lu says that the US has zero expectation that Taiwan will hold out against a Chinese invasion. He notes any US military equipment sold to Taiwan will end up in China’s hands if Taiwan capitulates.

He mentions that all US military items sold to Taiwan are either older or current-generation systems, which are of little value to China when reverse-engineered. He says the F-35 is considered too cutting-edge to be compromised.

In terms of sheer combat aircraft numbers, the US Department of Defense’s 2024 China Military Power Report mentions that China’s People’s Liberation Army Air Force ( PLAAF ) and People’s Liberation Army Navy ( PLAN ) Aviation are the largest aviation forces in the Indo-Pacific and third-largest in the world, with 3, 150 total aircraft, of which 2, 400 are combat aircraft, with 1, 900 fighters. Additionally, Admiral John Aquilino mentioned in a March 2024 US Senate Committee on Armed Services hearing that China will soon have the world’s largest air force, following its current status as having the world’s largest army and navy.

Despite those disadvantages, Taiwan’s new F-16V jets may offer the self-governing island a much-needed airpower boost. Shu Hsiao-Huang mentions in a Taipei Times article published last month that Taiwan’s new F-16V jets are equipped with the General Electric F110 engine, these jets deliver 13, 154.18 kilograms of thrust, surpassing the older F-16A/B models and enabling greater weapon-mounting capacity.

Shu notes other advanced features, including the APG-83 Scalable Agile Beam Radar, a helmet-mounted cueing system and an electronic warfare suite. He also says the jets boast a larger air intake and a US18E ejection seat.

Further, Taiwan’s new F-16V jets may be compatible with newer US munitions, significantly enhancing their effectiveness in standoff strikes.

Last month, The War Zone reported that the US is integrating the AGM-158C Long-Range Anti-Ship Missile ( LRASM) onto F-16V fighters, significantly enhancing their anti-ship capabilities. The report states that the LRASM’s stealth and adaptability surpass those of the older AGM-84 Harpoon, which Taiwan currently has, offering a range of up to 965 kilometers.

However, Kitsch Liao mentions in a Newsweek article published ast month that an air-launched LRASM capability for Taiwan might not survive China’s initial onslaught, rendering it useless to China’s amphibious landing group.

In line with that, Sebastian Roblin points out in a March 2020 article for The National Interest ( TNI ) that for Taiwan’s outnumbered fighters to make any impact, they must get off the ground – a task that may be impossible given the 1, 300 ballistic missiles and hundreds of sea, air, and land-based cruise missiles China can array against the self-governing island.

While Roblin notes that Taiwan has hardened underground air bases, its fighters may be bottled up if the runways are destroyed. Though he says that Taiwan could use highways as makeshift runways, the tempo of such operations would be sporadic at best.

However, the biggest challenge for Taiwan’s airpower may not be the self-governing island’s resource constraints but rather the inefficient US arms sales processes. In a War on the Rocks article from last month, Kevin Ting-Chen Sun and Howard Shen mention that late deliveries of F-16 jets from US defense companies critically undermine Taiwan’s defense capabilities amid escalating regional tensions.

Sun and Shen note that Taiwan’s new F-16Vs faced delays due to pandemic-related supply chain disruptions, pushing the timeline to mid-2024. Compounding this issue, they point out that the F-16A/B upgrade program, which includes essential components such as electronic warfare pods and AGM-154C glide bombs, has been postponed from 2023 to 2026.

They stress that these delays hinder Taiwan’s air defense modernization, leaving its forces reliant on outdated systems and eroding public confidence in defense spending. They emphasize that systematic inefficiencies in US arms sales execution exacerbate Taiwan’s vulnerability.

In the end, Taiwan’s F-16Vs may sharpen its defenses but without timely deliveries and an answer to China’s overwhelming missile and airpower advantage, they risk becoming just another symbol of Taipei’s shrinking military options.

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IN FOCUS: Silver, debut, ice and snow – can these ‘economies’ boost China’s domestic consumption?

DEBUT ECONOMY: NEW PRODUCTS, STORE LAUNCHES

New services, goods launches, the beginning of lineup stores- Foreign shoppers ‘ appetite for new things and trends powers what policymakers call the album business design. &nbsp,

” Its success can be tracked through the number of premier business openings, solution launches, business exhibitions and location innovations like the fall of Hangzhou’s ‘ Six Little Dragons'”, said Prof Wang, referring to a coalition of technical start-ups, including Deepseek whose AI robot roiled Silicon Valley companies earlier this year, that transformed the historic city into a creative innovation hub. &nbsp,

In December, a fresh business square opened to many suffer in Guangzhou as part of the Guangdong-Hong Kong-Macao Greater Bay Area ( GBA )- featuring more than 80 stores- premier, concept- spanning across luxury retail, excellent dining, and experienced offerings. &nbsp,

The Canton Tower Plaza achieved an occupancy rate of over 95 per cent by the end of last year, Project Manager Jiang Nan told local media earlier in March. &nbsp,

The plaza also drew 310, 000 visitors on opening day and over 800, 000 in the first three days, generating more than 12 million yuan in sales. Daily foot traffic typically ranges from 40, 000 to 60, 000 visitors, rising to 80, 000 to 100, 000 during holidays, and peaking at nearly 280, 000 on occasions like New Year’s Eve.

” In the consumer sector, it is actually supply that determines demand”, Wang said. &nbsp,” The debut economy ( model ) requires further enhancement of the supply-side innovation ecosystem, particularly in terms of financial support, venture capital, and patient capital” .&nbsp,

Shenzhen Tonghe Indoor Ecological Technology, an environmental and social-focused startup, is preparing to open its first physical office space in Shenzhen within the next two years. &nbsp, combining research and experiential functions to refine its smart ecosystem.

General manager Li Hechen says the company sees the debut economy model as a key catalyst driving China’s evolving retail landscape. ” It meets diverse consumer demands, unlocks new spending potential and ( has become ) a new driver of consumption growth”, Li told CNA. &nbsp,

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