China Business NOW

• How New Private Universities Might Reshape China's Higher Education

  Hello! Welcome to this edition of CBN Perspective. I’m Stephanie Li.For decades, public universities have dominated China's higher education system. But recently, a new crop of elite, heavily funded research universities in China is shaking up the country’s higher-education landscape, attracting top students with admissions standards that now rival or exceed those of many of the nation’s most prestigious legacy institutions.As results from the 2025 Gaokao, China’s national college-entrance examination, roll in, a cohort of recently established universities including Westlake University, Fuyao University of Science and Technology(FYUST), and Ningbo Eastern Institute of Technology(EIT) posted minimum cutoff scores that surpassed those of traditional top-tier schools.This new wave of research-focused private universities is challenging the status quo, bringing innovation that aligns with China’s key scientific research goals. Their unique approach to running schools not only attracts top talent but also redefines the potential of Chinese higher education.These schools are part of a new form of philanthropic endeavor among Chinese entrepreneurs that is focused on promoting China’s national strategy of “scientific self-reliance” through education. Now why have these institutions suddenly gained close attention from parents and high school graduates as strong rival of top public universities such as Tsinghua and Peking universities?At the core of their impact is a breakthrough in governance—one that addresses the bureaucratic inefficiencies long plaguing public institutions. Unlike traditional private colleges—long dismissed as "profit-focused alternatives"—these new schools use a board-of-trustees model pioneered by Westlake University.The board, made up of donors, academics, and public figures, serves as the top decision-making body: it oversees budgets and appoints leaders, giving the institutions greater autonomy to act quickly on societal and industrial needs.Public universities rarely get this kind of freedom to cut through red tape and focus on emerging scientific research fields. Their disciplinary focus also ties education closely to national scientific research strategies—a sharp contrast to traditional universities, which tend to cover too many areas.China has approved the establishment of several similar universities in key economic hubs in recent years, includingWestlake University in Hangzhou, Zhejiang, which concentrates solely on science, engineering, and life sciences; Eastern Institute of Technology, founded in Ningbo, Zhejiang province, by semiconductor magnate Yu Renrong, which zeroes in AI, integrated circuits, intelligent manufacturing and mathematics, and Shenzhen University of Advanced Technology and Greater Bay University in Dongguan, that leverage their proximity to Huawei to strengthen programs in communications and robotics.Wang Shuguo, inaugural president of FYUST and a veteran of prestigous public institutions, notes that private schools "are as dynamic as private enterprises, with stricter accountability to student demands." This flexibility let FYUST launch majors in intelligent manufacturing and new materials—directly matching China’s advanced manufacturing objectives.FYUST, initiated by glass tycoon Cao Dewang and the Heren Charitable Foundation that donated 10 billion yuan ($1.38 billion) to launch the school, not only touts global faculty and cutting-edge laboratories, but also generous financial aid, charging just 5,460 yuan (US$762) in annual tuition fees, while EIT’s inaugural students will receive full scholarships valued at 96,000 yuan.At EIT’s recent open day, assistant professor Huang Yuanlong said that undergraduate students could join top Chinese research teams as soon as they enroll. “The batteries used in future electric vehicles may come from our solid-state battery lab,” he said.By aligning courses with growing industries like AI and integrated circuits, these universities build talent pipelines for China’s scientific research frontlines. Their "small but elite" talent development model is equally transformative, blending education, research, and industry.Westlake University enrolls fewer than 100 undergraduates annually, keeping its student-to-faculty ratio below 10:1, far lower than the 15:1 average at top public universities.FYUST goes even further: its ratio hovers around 5:1, and it offers an 8-year bachelor-master-doctor track. This mirrors global elite practices, nurturing talent for long-term scientific research.This targeted approach also avoids wasting resources, letting schools dive deep into critical areas. FYUST, for example, has already partnered with Haier and FAW Group to build joint labs, turning classroom knowledge into industrial innovation.People’s Daily reported in March that the domestic semiconductor industry faces a talent shortfall of 300,000 people. Data from the Ministry of Human Resources and Social Security indicates a gap of over 5 million AI professionals, with a supply-to-demand ratio of just 1:10.Crucially, these universities act as "catfish" to spur reform in public institutions. Still, concerns linger. Many traditional private universities still struggle to fill enrollment quotas.The founders’ willingness and capacity for sustained investment would be crucial to the universities’ future, industry experts noted. There’s still a long way to go for the investors. Today, as China aims to become a global technology power, these research-oriented private universities are more than just additions to the system—they’re catalysts for reshaping it.The rise of private universities comes as China’s higher education sector faces demographic headwinds. This year’s national college entrance exam had 13.35 million registrants, down from a record 13.42 million last year and the first decline in nearly eight years.But only 9.54 million births were recorded last year, pointing to empty lecture theaters down the track. This year, private colleges in Guangdong province left thousands of seats empty, while Yunnan province had to lower admission cutoffs by 30-40 points. High tuition fees and lingering perceptions of "inferiority" hold them back.Against that backdrop, the rise of institutions like FYUST and EIT is more than just a personal experiment by the tycoons, because its offers a revealing case study of China’s higher education reform.The success of these “catfish” proves a mindset shift can drive change, and people need to stop seeing private universities as profit centers and start viewing them as public service providers. By combining flexible governance with a focus on key scientific research, they may just bridge the gap between academia and industry, nurture future talent, and push China’s higher education to be more innovative and relevant.

  --------  

  8:44

  --------

  8:44
• How 69-Year-Old Canton Fair Honors Guangzhou’s 1,000-Year Legacy

  Hello! Welcome to this edition of CBN Perspective. I’m Stephanie Li. Today, we’re shining a light on an event that’s been the backbone of China’s foreign trade for nearly seven decades: the 138th China Import and Export Fair, better known as the Canton Fair.Let’s kick things off with a staggering statistic: This year, over 207,000 buyers from 217 global markets arrived in Guangzhou—a “millennium-old commercial hub”—to take part. Since 1957, the Canton Fair has never missed a beat, even through global disruptions. But what keeps it relevant after 69 years? To answer that, we first need to tap into Guangdong’s millennium-long legacy of cross-border commerce.Rewind to ancient times: Guangdong was the starting point of the Maritime Silk Road, with Xuwen Port (dating back to the Qin and Han dynasties) as one of China’s earliest official gateways for global trade. By the Tang and Song dynasties, it housed the Shibo Si （市舶司）—the Imperial Maritime Trade Supervisorate, China’s first formal system for managing foreign commerce. Later, in the Qing Dynasty, Guangzhou’s “Thirteen Hongs” became the epicenter of Sino-Western trade. Openness is deeply woven into Guangdong’s DNA.Fast forward to 1957: The first Canton Fair opened to bypass Western economic sanctions against China. Back then, it focused on agricultural goods and everyday staples. Today, it’s an epicenter for high-tech, smart, and green innovations. This year, over 32,000 enterprises exhibited—including, for the first time, more than 10,000 high-caliber firms labeled “high-tech” or “specialized & innovative.” So, what’s the Canton Fair’s secret to staying vibrant? Let’s talk innovation. This year, it launched its first-ever dedicated “Smart Medical Zone,” showcasing medical robots and AI-powered diagnostic tools. It also introduced “modular booth construction”—think of it as “trade-show Lego”—cutting costs for businesses and slashing carbon footprints.As for the exhibits, over 1 million new products are on display, from AI+AR glasses that translate 89 languages in real time to bionic crawler robots that clean skyscrapers. More than 60% of these new items leverage cutting-edge technology.But the fair isn’t just about gadgets; it’s about forging real connections. Its global network keeps expanding: This year, it added 18 new partners (like Brazil’s Federation of Foreign Trade Chambers), bringing the total to 227 across 110 countries. Even amid U.S. tariff shifts, American buyers—including retail giants like Target—still rely on the fair to stock their shelves. And let’s not overlook the small touches that make a big difference. This year, the fair added on-site tax refunds for overseas buyers, mobile “ASK ME” foreign-language help desks, and even Bluetooth+Beidou+5G navigation to find booths in a flash. Self-service kiosks can help you get a visitor badge in just 30 seconds. There’s even a “Canton Fair Music & Food Festival” to share Cantonese delicacies and folk art—because doing business should feel like making friends.At the 137th Canton Fair earlier this year, "intelligence" emerged as a standout feature, with service robots stealing the spotlight at one point. By showcasing a diverse range of products, from embodied robots to educational and entertainment robots, the fair presented a concentrated display of China’s latest developments in service robots and the status of its upstream and downstream industrial chains. The fair also offered a glimpse into the profound transformation underway in Guangdong’s foreign trade.Throughout its changes over the millennia, especially in the new era, the underlying logic of Guangdong has remained consistent, with greater emphasis on innovation and openness.From ceramics to OEM (original equipment manufacturing) products, and then to high-tech products; from the original "new trio" to the current new "new trio"—the evolution of Guangdong’s export products maps out a clear path of industrial upgrading. It has gradually transformed from a "contract manufacturer" passively accepting orders into a "rule-setter" that proactively participates in and even leads industry development.A thousand years ago, merchant ships docked at Fanfang, the foreign quarter in ancient Guangzhou, to complete tangible transactions; a thousand years later, global merchants gather at the Pazhou Exhibition Center, seeking the latest products and reliable partners at the Canton Fair.From "selling to the world" to "buying from the world," and further to "linking with the world," the core of Guangdong’s foreign trade story has always been about doing business, making friends, and pursuing development. Guangdong has walked this path for a thousand years and will continue to move forward firmly, as a bridge between China’s past and the world’s future.

  --------  

  6:19

  --------

  6:19
• Meet the New "New Trio”, China’s Answer to Tech Revolution

  Hello! Welcome to this edition of CBN Perspective. I’m Stephanie Li.Not long ago, China’s "new trio" of exports – new energy vehicles, lithium batteries, and solar panels – turned "Made in China" into a label for green manufacturing. Today, artificial intelligence, robotics, and innovative pharmaceuticals emerged as the new "new trio", marking a pivotal transition for China’s economy that powered by technological breakthroughs. To anyone tracking China’s rise, these three sectors are no longer just market darlings, but have formed the backbone of its high-quality development and hold the key to redefining Chinese assets on the global stage.Technology companies now make up over a quarter of China's A-share market as the country steps up support for sci-tech innovation, China Securities Regulatory Commission (CSRC) Chairman Wu Qing announced at a recent press conference. The market cap of tech stocks is significantly higher than the combined market cap of the banking, non-bank financial, and real estate sectors, Wu said. This signals a clear paradigm shift: robots, AI, and innovative drugs have officially taken over as the new growth engines of China’s economy.The rise of the new "new trio" is no accident. Globally, technological competitiveness has become the cornerstone of national strength, while domestically, the land-finance growth model has run its course, with AI breakthroughs taking the wheel to drive on the lane of new productive forces. Each of these three sectors fills a non-negotiable niche: Robotics serves as the "physical engine" of smart manufacturing, addressing labor shortages and boosting efficiency. AI acts as the "digital brain," supercharging everything from factory operations to drug R&D. Innovative pharmaceuticals stand as the "value core" of life sciences, safeguarding public health while generating high returns to fund further innovation.Let’s examine the market dynamics. In the robotics sector—particularly humanoid robots, viewed as the next transformative smart terminal after computers, smartphones, and new energy vehicles—A-share leader Inovance Technology boasts a market cap exceeding 200 billion yuan. Sanxie Motor surged by more than 785% on its debut trading day, while unlisted players like UBTECH and DeepRobotics have also become darlings of capital.In AI, multiple enterprises already hold a market cap of over 100 billion yuan. The colloquial “Ji Lian Hai" refers to Cambricon, Foxconn Industrial Internet, and Hygon—firms focusing on AI computing chips and infrastructure. Their order books and profit margins hit record highs in H1 2024. Meanwhile, “Yi Zhong Tian" denotes Eoptolink, Zhongji Innolight, and Tianfu Communication, whose optical modules are in high demand for high-speed data transmission in large AI models, driving simultaneous growth in both earnings and stock prices.For innovative drugs, Hengrui Pharmaceuticals is approaching a 500 billion yuan market cap, with WuXi AppTec, Hansoh Pharma, and Innovent Biologics each exceeding 100 billion yuan, with their business models shifting from "capital-intensive investment" to "profit-generating operations."In a global perspective, China’s position in these three sectors is evolving from "catch-up" to "leadership." Robotics leads the pack, ranking among the global first tier as it boasts a complete industrial chain, the world’s largest market, and advanced localization of components, though high-end servo motors still rely on imports as Japanese firms control 60% of the servo market.AI is in "overall catch-up, with leadership in specific applications"—excelling in computer vision and speech recognition, but facing gaps in core chips (NVIDIA dominates 80% of the global market) and framework ecosystems.Innovative pharmaceuticals are moving from "follow-up" to "catch-up," with overseas transaction volumes surging, a sign of international recognition for R&D capabilities, yet challenges remain in target discovery and basic research translation.But these bottlenecks are far from dead ends; they’re precisely the arenas where China’s strengths will come to the fore. The solution is clear: Unlock cross-sector data to unleash AI’s full potential; speed up approvals for life-saving technologies; build more computing hubs and train interdisciplinary talent; implement "regulatory sandboxes" to allow room for innovation experimentation, avoiding "one-size-fits-all" policies that restrict development; and join global tech standard-setting to ensure China’s voice is heard.The shift from the old "new trio" to the new "new trio" reflects the intrinsic logic of China’s industrial upgrading. While challenges lie ahead, the performance of leading enterprises, supportive policy rollouts, and tangible technological breakthroughs all indicate that capital is casting a "vote of confidence" with real investment.For international investors and collaborators, this is likely the masterplan for the upcoming wave of tech-driven expansion. Leveraging its vast market expanse, targeted policy impetus, and robust industrial ecosystems, China’s new "new trio" stands poised to transmute present-day trials into triumphs of tomorrow.

  --------  

  6:38

  --------

  6:38
• SFC Correspondents at China-ASEAN Expo 2025: AI in spotlight丨ASEAN Watch

  Stephanie: Hey everyone, and welcome to this edition of CBN x ASEAN Watch. I’m Stephanie, your host, and today we’re taking you to the ongoing China-ASEAN Expo. Entering its 22nd edition this year, the old-line China-ASEAN Expo (CAEXPO) for the first time set up a 10,000-square-meter pavilion dedicated to Artificial Intelligence (AI), underscoring the ever-expanding and deepening cooperation between China and the Association of Southeast Asian Nations (ASEAN).The expo opened on Wednesday in Nanning, the capital of Guangxi province in southern China. This year, it boasts an exhibition area of nearly 160,000 square meters, with over 3,200 enterprises from 60 countries participating.Joining me today is Sharon and Jiaying, our ASEAN correspondents who are now at the very location of the expo in Nanning. Hi, Jiaying.Jiaying: Hi, Stephanie, and hello to our listens. Can you guess where I am now? Yes, I’m at the AI Pavilion, the absolute spotlight of this year’s China-ASEAN Expo.The AI pavilion is the largest single-theme hall in the expo's history. It hosts nearly 200 tech firms, from industry leaders to innovative startups, showcasing about 1,200 innovative products and technologies, ranging from consumer-grade smart devices to industrial-grade solutions, forming a complete innovation chain.Stephanie: Wow, this is so exciting! How is the AI pavilion like? Jiaying: Of course. On opening day, the AI pavilion quickly became a major draw for visitors. I’ve been talking with some of the exhibitors, and they are very excited to be here with their latest AI products. Take a listen.(In Chinese: Staff from InMyShow Digital Technology Group, a Guangxi-based MCN company that incubate online influencers, introduces their latest AI digital avatars that support Chinese as well as the languages used in all 10 ASEAN member countries.)Stephanie: What are some of the “hardcore” AI products that impressed you? And how do they serve ASEAN clients?Jiaying: Major tech giants such as Huawei, Alibaba, iFlytek, Unitree Robotics and Qi-Anxin Group are prominently featured in the AI pavilion, where they showcased their advanced products.(iFlytek staff: We have recently launched a multilingual AI model specifically designed for the 10 ASEAN members. This model has significant enhancement in capabilities, including language understanding, machine translation, knowledge question-and-answer facilities and text generation. In 2024 we sold approximately 15,000 smart devices in ASEAN countries, generating total revenue of about 13 million yuan.) Stephanie: Thank you, Jiaying, for bringing us the vibe of the AI pavilion.As an important open platform for China-ASEAN cooperation, the expo has tightly embraced the new era of AI.The theme of this year's expo, "Digital Intelligence and Innovation Empower Development – Leveraging China-ASEAN FTA 3.0 New Opportunities for an Even Closer China-ASEAN Community with a Shared Future," highlights the role of technology in boosting bilateral trade and cooperation.Cambodian Permanent Deputy Prime Minister Vongsey Vissoth said that the theme underscores "the urgent need" for cooperation in building a region that is both prosperous and peaceful by leveraging digital technology and innovation, as well as promoting trade and investment.At this year’s edition, ASEAN members have also been actively engaging with the expo's emphasis on AI. The AI pavilion is also presenting the latest scientific and technological achievements from many ASEAN members, including Brunei, Malaysia and Thailand.Now let’s talk to Sharon. She’s been covering the ASEAN Zone.Sharon: Hi Stephanie. The ASEAN Zone at the dedicated AI pavilion has been warmly welcomed by ASEAN members, including the Brunei Innovation Lab, Indonesian Telematics Society, Malaysian Global Telecom Group, Myanmar Computer Industry Association, and Thai Mitr Phol Group, which showcase smart agriculture technologies, remote communication equipment, and scientific and technological innovation projects from ASEAN countries.For example, the Indonesian Telematics Society - a non-profit dedicated to information, communication and broadcasting technology - has showcased Indonesia's cutting-edge products. Sarwoto Atmosutarno, the organization's president, said the firm has collaborated with Chinese tech leaders like ZTE and Huawei. It now boasts 31 member units, all actively applying AI and building data centers and cloud services.Meanwhile, Vietnam's Ministry of Science and Technology has been organizing Vietnamese enterprises to exhibit high-tech projects at the Vietnamese Commodities Pavilion.Stephanie: Collaboration between China and ASEAN members through platforms such as this expo is crucial for sharing knowledge, resources, and best practices in AI.This partnership not only strengthens economic ties but also promotes technological advancements that can address common challenges faced by the region.Sharon: Exactly. With the demand for AI solutions ever increasing, the debut of these products at the expo serves as a catalyst for further cooperation and innovation, paving the way for a more integrated and technologically advanced future for both China and ASEAN.I was talking with the Vice President of the Laos Chamber of Commerce, and he told me that Guangxi is a strategic location to implement China-ASEAN cooperation in AI.(Thanousone Phonamat, vice president of Lao National Chamber of Commerce and Industry: This morning I had the opportunity to attend the Ministerial Round Table on AI with high level officials from China and ASEAN. After discussion between ASEAN member countries and China, the conclusion from theChina side is that Guangxi is located in very strategic location. It’s the gateway for collaboration between ASEAN and China.I’ve also come to Guangxi many times. We work with quite a few technology companies. Every time we come, we see that Gangxi’s technology development is quite fast, because I also travel to cities in China, like Shenzhen or Shanghai, and I found that it's not too big different. We are happy to be close to Guangxi as we share similar culture, similar food, and our communication is easier and we are very happy to cooperate with the Guangxi government and Guangxi businesses, for our AI development. )Stephanie: Thanks Sharon for sharing your observations at the expo. Official data show that bilateral trade volumes have consistently risen, with China remaining ASEAN's largest trading partner for 16 consecutive years, while ASEAN has been China's largest trading partner for the past five years.By enhancing trade frameworks and embracing AI, China-ASEAN economic and trade cooperation is set to become even more dynamic and deliver even greater win-win outcomes.And that’s our program today. Thanks for listening and until the next time!

  --------  

  8:57

  --------

  8:57
• Why Alibaba’s Amap is Unmapping Meituan’s Turf?

  After engaging in a months-long price war of instant retail, two of China’s “Big Three” delivery platforms - Alibaba and Meituan - are again wrestling on a different ring as they unveiled new initiatives targeting each other’s turf.Chinese internet giant Alibaba Group Holding on Wednesday released a major update to its navigation platform Amap, adding a new artificial intelligence-powered feature allowing users to leave a ranking for local businesses just like on Dianping, an app by rival Meituan.Now when you open Amap to find a nearby restaurant, this new "Street Stars” ranking is going to pop up—not just any list, but one weighted by your actual behavior and Alipay's credit score. This seemingly small change is quietly rewriting the rules of how we discover and choose local businesses, as users can review restaurants, hotels, tourist attractions, and others using the new Amap ranking. Alibaba also promised to offer over CNY1 billion of incentives to support the spending of 10 million customers on car rides, dining, and other services.Alibaba set up the Amap “Street Stars” project in June and has since been making secret progress, covering over 1.6 million offline service providers in more than 300 Chinese cities, including over 870,000 restaurants, 230,000 hotels, and nearly 50,000 scenic spots.Amap “Street Stars” is based on users' behavior trends rather than their likes or favorites, values returning customers, and will never be commercialized, said Guo Ning, chief executive of Amap.Interestingly, Alibaba linked the feature to Amap rather than its Taobao Flash Buy, which market analysts attributed to the former's mapping and navigation data.Alibaba’s move isn't just another marketing push—it's a full-on assault on Meituan's most profitable territory: in-store services. Let's put things in perspective. China's local services market is predicted to hit CNY35.3 trillion by 2025, with only 30.8% of that happening online. So there's massive room to grow. Alibaba's strategy here is cleverly layered. Let's break it down. First, traffic. As one of the most popular map apps in China, Amap hails national utility with 700 million monthly active users. Every time someone searches for directions, that's a chance to nudge them toward a nearby café or shop. It's like turning every car ride or walk into a potential shopping trip.Then there's the tech angle. By tying in Alipay's credit system, they're filtering reviews through a trust layer. So a five-star rating from someone with a solid credit score matters more than a random anonymous review. Add AI to eliminate fake comments, and suddenly you've got a more reliable recommendation engine.And let's not forget the ecosystem play. That CNY1 billion subsidyworks hand-in-hand with Ele.me's delivery services, creating a loop: find a place on Amap, go there, or get it delivered via Ele.me, avoiding Meituan's stronghold in food delivery and hitting where Meituan is vulnerable: trusted recommendations.The numbers back up why Alibaba's doubling down. Their local services arm grew 12% last fiscal year to CNY67 billion. Even better, losses are shrinking—down to CNY2.3 billion in Q4. They're getting more efficient, which gives them the cash to invest here. And who can blame them? Meituan once saw 43.3% profit margins in in-store services. Alibaba certainly wants a piece of that.But Meituan isn’t sitting idle. On the same day, Meituan’s Dianping platform relaunched its “Premium Delivery” service, promising 30-minute delivery from top-rated restaurants featured in its “Must Eat” list and “Black Pearl” guide.Dianping said it would "restore" its quality food delivery service by using a self-developed business-to-business AI model to analyze users' demand based on a vast amount of review data, filtering non-genuine reviews to provide a reliable reference for decision-making, with consumer-facing AI agents set to launch within a week. It will also issue 25 million large-denomination "quality takeout" consumption coupons. The effect of Dianping's new project remains to be seen because its users tend to dine in, while restoring the food delivery business requires guiding users to order food on the app, analysts pointed out.Meituan "suffered grievously" in the last round of the food delivery war with JD.Com and Alibaba's Ele.me. Its net profit plunged 89% to CNY1.5 billion in the six months ended June 30 from a year earlier, while its revenue rose 12% to CNY91.8 billion, it said in its first-half financial report released on Aug. 27.Meituan's strength has always been its network effect—more restaurants mean more riders, which brings more customers. But that doesn't protect them in in-store services, where fake reviews have long been a problem. Alibaba's "never commercialize" promise for its rankings hits right at that trust issue.Now, Alibaba is building a "home delivery + in-store" and "long-distance + nearby" ecosystem. But to challenge Meituan's Dianping—with its deep content and user habits—Amap needs more than traffic and data. It will need a richer content ecosystem and stronger merchant partnerships. The more intriguing fact is that this AI-driven battle is rewriting the rules of local services, shifting trust from subjective reviews to real behaviors, moving decision-making from users to machines, and refocusing businesses from traffic chasing to value creation.The endgame here won’t be endless app wars. It’ll be a showdown between super AI assistants—the one that truly understands what consumers want, and the one that delivers better experiences and more choices for both businesses and consumers. That’s where the future of local services will be decided.

  --------  

  7:35

  --------

  7:35

Más podcasts de Gobierno

Podcasts a la moda de Gobierno

Acerca de China Business NOW