Dealing with “Legacy Projects” of Sacked Officials
During anti-corruption campaigns, it is common that projects are abandoned when government officials that endorsed them are sacked. “Star projects” including the China Happy Park in Anhui’s Huainan city, a rain and sewage diversion project in Nanjing, and the “Hong Kong City” project in Hunan’s Yiyang city were left unfinished after local officials were removed from office.
Combing through unfinished projects left by sacked government officials, Caijing found that many project developers were closely tied to these corrupt officials, essentially forming a community of interests characterized by power-for-money deals. How to deal with unfinished projects bearing the stamp of corruption is a tricky problem for successors. Restarting, demolishing, or leaving them alone? No matter what, enterprises, the public, and the government will incur huge losses.
VR Is Not Dead
When Facebook acquired Oculus in March 2014, the virtual reality (VR) industry took off. By 2015, the number of VR companies in China had reached 175. However, the VR market suddenly froze in the second half of 2016.
Given its revolutionary immersive experience, VR is considered to be the next generation computing platform and client interface. However, industrial progress has its inherent laws and cannot be forced. The current state of the VR industry, whether it comes to hardware iteration, content construction, or ecology, cannot meet the expectations of the market. But, VR is not dead. It is in the early stage of an upward spiral. Its future lies in the hands of industry giants.
Restructuring Should Not Be Delayed Despite Growth Rebound
Recent data show that China’s GDP growth, at 6.9 percent in the first half of 2017, is better than expected. Province-specific data show that GDP growth in 21 out of 31 mainland provinces and municipalities was above national average.
Structural adjustment has been talked about over the past 20 plus years. However, structural transformation was often delayed once the external situation improved. In the second half of 2017, promoting various reforms in the Chinese economy, guiding capital to real industry and avoiding dismissing the opportunity of reform simply due to short-term economic pickup are real concerns.
Legal War in Bike-sharing Industry
Who invented bike-sharing? In April 2017, Gu Tailai, the inventor of a patent on the “Operating System and Methods of Bike-renting without Fixed Site for Picking-up and Returning,” filed a lawsuit against Youon Bike. Gu contends that the business models of most bike-sharing companies on the market are the same as the patent he owns, and therefore involve infringement.
It remains to be seen whether this patent dispute will develop into a war between Gu and the entire bike-sharing industry. But the exclusivity and impact of business model patents are becoming more obvious. As the review policy for “business model patents” loosens up, fields such as e-commerce, finance, and insurance may be heavily affected.
Embryo Gene Editing Presents Challenge to Ethics
It has been reported that biologist Shoukhrat Mitalipov at the Oregon Health & Science University in the US and his team recently changed the DNA of dozens of single-cell embryos using CRISPR gene editing technology. Prior to this, Chinese scientists announced in 2015 that they made the first genetic editing of human embryos, which set off intense ethical discussions.
Some people believe that breakthroughs in therapeutic embryo gene editing technologies will first be made in China, given its capable scientific researchers and less strict legal constraints in this field. Since this technology presents a major challenge to ethics, scientists, ethicists, policy makers, and patients should all be involved in the development of ethical guidelines.