China's 'four great inventions' wow youths from B&R markets

Manchester traffic police pose with Mobike bicycles at the launch of the bike-sharing services on June 29. Manchester marks the beginning of the Chinese company's global expansion, which popularizes the concept of sharing economy. Xinhua

Scholars say high technology feats are exemplary, and need to be replicated

BEIJING - China, which boasts epochal inventions in ancient times, has once again demonstrated its ability to change the world with its "new four great inventions": high-speed railways, electronic payments, shared bicycles and online shopping.

The four innovative ways of life were most appealing to youths from 20 countries participating in the Belt and Road Initiative, according to a survey by the Belt and Road Research Institute of Beijing Foreign Studies University.

"The 'new four great inventions' are all related to China's high-tech innovation, which improved the quality of people's lives," said Wu Hao, executive director of the BRRI.

"My wallet is no longer in use. I can buy and eat whatever I want simply with a (tap of) fingertip on my phone," said Lin Jinlong, an overseas Chinese student from Cambodia, adding that "even pancake sellers are using Alipay (mobile payment).

"We can also order food at home, which is super convenient. If I were at home in Cambodia, I would have to go outdoors."

The bikes themselves are not new, but the operating model of bike-sharing is based on satellite navigation system, mobile payment, big data and other high technologies.

Chinese entrepreneurs have surprised the world with the business model of bike-sharing which incorporates those technologies, and are entering overseas markets such as Singapore and Britain.

China has entered a new innovative era, thanks to the large amounts of capital China has invested in encouraging innovation, said Bernhard Schwartlander, World Health Organization Representative in China.

As a huge fan of bicycles, he also expressed his affection for China's shared bicycles, saying that "shared bikes are bringing cycling back to people's lives ... and they are making public transport more attractive and convenient, and encouraging people to be more active."

Rebacca Fannin, founder and editor of Silicon Dragon, noted that China is beginning to lead in innovation in some ways.

"It is increasingly clear that China is innovating and no longer copying Western ideas. This is especially true in mobile, where China is leading in many ways such as ... social messaging app WeChat," she said.

"This is partly because China skipped over the PC era and went directly to mobile. China has the largest mobile use in the world."

Yoneyama Haruko, an expert with the China Research and Communication Center of the Japan Science and Technology Agency, said Chinese people's lives have become more and more convenient due to abundant technology usage, adding that Japan has been falling behind China in technological innovation for the past 10 years or so.

With regard to the "new four great inventions", Charlie Dai, principal analyst of American market research company Forrester, said these products and services have definitely improved customer experience, boosting national and global economy at the same time.

Statistics show that technological progress contributed 56.2 percent to China's economic growth in 2016.

A growing number of foreigners hope to promote economic development in their home countries by highlighting the need for technological achievements like that of China.

Lin cited his experience of traveling by Chinese high-speed train from Beijing to the coastal city of Tianjin more than 100 km away. The journey takes only half an hour, while in Cambodia, which has only two railways, such a journey may take up to three hours.

"As a Chinese saying goes, 'Building roads is the first step of getting rid of poverty', and Cambodia can achieve faster economic growth by introducing Chinese high-speed trains," Lin said.

Wu said Lin's view appears to suggest that youths of countries participating in the Belt and Road Initiative wish their home countries would emulate China in terms of technological achievements.

Mainland students raring to launch new businesses

BEIJING - Students in China are eager to start businesses and hope that their colleges can provide more opportunities to foster entrepreneurship, according to a survey from a universities' alliance earlier this month.

The Innovation and Entrepreneurship Education Alliance of China or IEEAC is a platform for universities to share their experience in entrepreneurship and nurture students' innovative and entrepreneurship spirit.

The IEEAC surveyed students from 130 colleges, and more than 80 percent of students said they are willing to start businesses.

Nearly half of the students surveyed hoped to receive training and financial support for entrepreneurship from colleges.

Only 17 percent of startup projects in colleges provide overseas exchange and cooperation opportunities, according to the survey.

"We should promote international cooperation in innovation and entrepreneurship, as well as cooperation between colleges and enterprises," said Sun Hongbin, secretary-general of the IEEAC.

According to the Ministry of Education, 7.95 million college students are expected to graduate this year.

Around 3 percent of this year's college graduates are expected to start businesses, up from only 1.6 percent of college graduates who started businesses in 2011, according to a report jointly released by the educational research company MyCOS Institute and the Chinese Academy of Sciences.

"It is important for students to learn about the country's policies and evaluate their skills before starting businesses," said Zhu Zhuohong from the CAS.

Xinhua