China Leapfrogs Ahead in Developing Computing Power
According to the policy planning, the future computing power network will realize the unified allocation of resources. At present, the market is still relatively fragmented. Meanwhile, the competition in the computing power industry is intensifying.
China’s computing power industry is entering a new round of development cycle. The ambition of China’s computing power industry is to build an integrated network. The purpose is to make computing power as cheap and easy to use as hydropower and the Internet. Also, China’s ambition is to occupy a greater share in the international industrial chain. The major players who have strong resources in China are the telecom operators with a state-owned background and big tech companies with a private background. Behind the two main forces is a huge industrial chain including equipment service providers, chip suppliers, and chip manufacturers. If the power of various departments in China’s computing power industry is dispersed and unbalanced, the country will be left behind by the international market.
Saudi Arabia Becoming a Top Destination for Chinese Investment
Although the goal of economic diversification was set many years ago, the determination of Saudi Arabia to speed up the transformation has never been stronger. The country is eager to depart from the effects of oil price volatility on the economy. Although the transformation dates back to the 1970s, changes have occurred particularly rapidly in the past few years since the country launched its “Vision 2030”.
In the spring of 2016, Saudi Arabia launched a grand economic and social reform plan, “Vision 2030”. Since then, the country has gradually moved from a closed society to an open one. Oil is the lifeblood of Saudi Arabia’s economy, but the goal of the “Vision 2030” is to get rid of the economy’s dependence on oil and achieve diversified development. More than one Chinese investor and entrepreneur who started businesses in Saudi Arabia told Caijing that the country is like China after the reform and opening up. The country is becoming a popular investment destination for Chinese companies.
China’s Pharmaceutical Industry is Poised for New Trend of Development
From July 2021, after Sun Piaoyang regained control of Hengrui Pharmaceuticals, the company began to embark on the development path of foreign cooperation. As an established company with the largest market value among A-share pharmaceutical companies, Hengrui has introduced four major licensed projects in the past year.
Until the first half of 2021, the major buyers with more than 10 licenses are basically innovative biopharmaceutical companies such as Zai Lab and Everest Medicines. Even the concept of licensing emerged in 2015. Entering a new innovation cycle, some leading Chinese pharmaceutical giants have adjusted their strategy, that is, paying equal attention to independent research as well as cooperation with other industry forerunners. Independent research and development of new drugs is extremely costly and risky. But pharmaceutical companies must invest in innovation, because investment is all about expectations and innovative products will give investors such expectations.
China is Making Progress Towards the International Use of the Renminbi
Recently, the RMB has made some progress in cross-border trade settlement, but there is still a long way to go. At present, the process of RMB internationalization is mostly focused on the field of trade settlement which is already a major breakthrough. The reality is that most commodity revenues have to be denominated in dollars. In this context, the expanded use of currencies of some emerging economies, including the RMB, has attracted widespread attention.
The orderly promotion of RMB internationalization also faces many practical constraints. At the same time, the de-dollarization trend around the world has been accelerating in the past year. In addition, the U.S. dollar as an international currency has been politicized, which has created a crisis of confidence.
