Kai-Fu Lee and Jonathan Woetzel — China, the Digital Giant

Retraining the displaced will be a major challenge for China’s government, as will preventing the major digital players from securing innovation-stifling monopolies. But the government’s readiness to embrace the emerging digital age, pursuing supportive policies and avoiding excessive regulation, has already placed the country at a significant advantage.

Digitization also addresses the issue of the economic effect of China's aging population and the one-child policy's affect on replenishing the labor supply.

Project Syndicate
China, the Digital Giant

Kai-Fu Lee, co-founder and CEO of Sinovation Ventures, and Jonathan Woetzel, a McKinsey senior partner and a director of the McKinsey Global Institute

China Daily — Zhongguancun unseats U.S. Silicon Valley to become world's top tech hub

China closing in.

Beijing's Zhongguancun has unseated San Francisco's Silicon Valley as the top technology hub in the world, according to a report by Expert Market, a U.S.-based business resource company.

Beijing's Zhongguancun tech community has became the top destination for the brightest tech talents around the world, due to its favorable climate for early stage funding, good performance in startup output and the city's affordable cost of living, revealed the Top Tech cities in the World 2017 report.

About 10 data points were used to determine the rankings, such as the average salaries for software engineers, how long it takes to get a business up and running, cost of living and monthly rent prices, growth index and startup output, Forbes reported citing the methodology of the study.

Berlin ranked second, down from the top spot, which it held in 2016, and San Francisco, where Silicon Valley is located, took the third spot. Shanghai grabbed the sixth place as a new entrant to this year's list, with high growth index, relatively low monthly rent and good startup experience.

Ecns
Zhongguancun unseats U.S. Silicon Valley to become world's top tech hub

China Daily

RT — Chinese ‘hack-proof’ quantum communication satellite put into service

The world’s first quantum communication satellite is now officially operational following months of in-orbit testing, the Chinese Academy of Sciences (CAS) announced, saying that performance of the device is “much better” than was initially expected.

Robust encryption.

RT
‘Much better than expected’: Chinese ‘hack-proof’ quantum communication satellite put into service