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La red de aeropuertos del Grupo Aena cerró febrero con un nuevo récord de pasajeros, hasta los casi 20 millones (+4,4%), mientras que en los dos primeros meses de 2025 recibió la llegada de 49,5 millones de de viajeros, un 5,3% más que en 2024.La Comunitat Valenciana ha solicitado al Gobierno ayudas urgentes para el sector turístico tras las pérdidas que superan los 4.000 millones de euros provocadas por la DANA.World2Meet, la división de viajes del Grupo Iberostar, ha conseguido la validación de sus objetivos para la reducción de emisiones de gases de efecto invernadero dentro de la iniciativa Science Based Targets (SBTi). La compañía se compromete a alcanzar cero emisiones netas en toda su cadena de valor para el año 2050.Turespaña mantuvo un encuentro con el grupo asiático Trip.com (Ctrip, Trip.com, Qunar y Skyscanner) en la feria ITB Berlin para impulsar la disponibilidad y comercialización de productos y experiencias turísticas españolas, a través de los diferentes canales de distribución digital.IAG ha cerrado con una caída del 7,02% en Bolsa, la más alta del Ibex 35, hasta los 3,432 euros por título, en una jornada de descensos generalizados en todo el sector aéreo tras los malos pronósticos lanzados por aerolíneas estadounidenses para el arranque del año en el sector del transporte aéreo.César Gutiérrez Calvo ha sido reelegido presidente de la Federación Empresarial de Asociaciones Territoriales de Agencias de Viajes Españolas (FETAVE). En su nuevo mandato, priorizará la exclusión de las agencias de viajes del Real Decreto 933/2021, que regula el registro del viajero. La asamblea general de FETAVE ha acordado emprender acciones legales si el Ministerio del Interior no atiende sus alegaciones contra esta normativa.
ACAVE, CEAV, FETAVE y UNAV, organizaciones empresariales de agencias de viajes que representan a la totalidad del sector, han entregado, de forma conjunta, un manifiesto en contra del Real Decreto 933/2021 dirigido al Ministerio de Industria y Turismo. Además, el presidente de CEAV, Carlos Garrido, ha alertado de que afectará a la campaña del próximo verano. El Ayuntamiento de Sevilla y Mastercard han presentado en Fitur “La esencia de Sevilla”, un proyecto piloto para atraer turismo chino a la ciudad, integrando rutas exclusivas que destacan su artesanía, gastronomía y vida local. La iniciativa busca ofrecer una experiencia auténtica y sostenible, con la colaboración de empresas como Bank of China, CTrip.com, y comercios locales. Vueling programa incorporar 5 aviones para el verano de 2025 y un incremento de más de 1 millón de asientos en España a destinos nacionales e internacionales, lo que supone un 6% más de asientos ofertados respecto al año anterior y alcanzar los 27,2 millones de asientos en toda la red. La próxima temporada de viajes del Imserso, correspondiente a la temporada 2025/2026, que se articulará a través de una nueva licitación con posibles cambios y una revisión de los precios, será objeto de puja por parte de Ávoris Corporación Empresarial, Travel Live o Mundiplan. Alma Cruceros, la nueva naviera española que debutará el próximo mes de abril, prevé alcanzar el 70% de ocupación y 1.700 camarotes vendidos en su primer año de actividad con su único crucero, el Ocean Victory, mientras que estima incorporar un segundo barco a su flota en 2028. Amadeus destaca en Fitur dos tendencias clave que marcarán los viajes aéreos en 2025: la personalización de la experiencia a bordo y el resurgir de Asia como destino turístico. Según los datos de la compañía, los principales destinos de Asia y Oriente Medio buscados por los viajeros españoles son: China, Japón, Tailandia, Turquía e Indonesia.
This week's podcast is what I learned about ecommerce from my visits to China's leading players.You can listen to this podcast here, which has the slides and graphics mentioned. Also available at iTunes and Google Podcasts.Here is the link to the TechMoat Consulting.Here is the link to the Tech Tours.Lesson 1: GenAI Is accelerating and intensifying the fight for attention and ecommerceLesson 2: Cross-Border ecommerce is a big opportunity that is growing. Chinese companies are leading.Lesson 3: Discounts and promotions are still king in ecommerce. Ctrip is awesome at this.—–—-I write, speak and consult about how to win (and not lose) in digital strategy and transformation.I am the founder of TechMoat Consulting, a boutique consulting firm that helps retailers, brands, and technology companies exploit digital change to grow faster, innovate better and build digital moats. Get in touch here.My book series Moats and Marathons is one-of-a-kind framework for building and measuring competitive advantages in digital businesses.This content (articles, podcasts, website info) is not investment, legal or tax advice. The information and opinions from me and any guests may be incorrect. The numbers and information may be wrong. The views expressed may no longer be relevant or accurate. This is not investment advice. Investing is risky. Do your own research.Support the show
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China decided last week to extend the short-stay visa-exemption policy for citizens of 12 countries, of which 11 are European nations, until the end of 2025. This extension underscores the prospects for China-Europe engagement in the years ahead and will bring a fresh wave of European tourists to China, analysts said.中国上周决定将对12个国家(其中11个是欧洲国家)公民的短期免签证政策延长至2025年底。分析人士表示，这一延期突显了未来几年中欧合作的前景，并将为中国带来新一轮的欧洲游客。China announced a visa-free policy for five European countries — France, Germany, Italy, the Netherlands and Spain — from Dec 1 of last year to Nov 30 this year, with people from these countries allowed to stay on the mainland for up to 15 days for business, tourism, family trips or transit without a visa.中国宣布，从2023年12月1日至2024年11月30日，对法国、德国、意大利、荷兰和西班牙这五个欧洲国家实行免签政策，这些国家的人可以在中国大陆停留最多15天，用于商务、旅游、家庭旅行或过境。The visa-free policy was then extended to six more European countries: Switzerland, Ireland, Hungary, Austria, Belgium and Luxembourg, from March 14 to Nov 30 to further boost inbound tourism.随后，从3月14日至11月30日，免签政策又扩展到6个欧洲国家:瑞士、爱尔兰、匈牙利、奥地利、比利时和卢森堡，以进一步促进入境旅游。During his visit to France, Chinese President Xi Jinping said China welcomes visits by more people from France, and will extend the short-stay visa-exemption policy for citizens from 12 countries, including France, up to the end of 2025.习近平总书记在访问法国期间表示，中国欢迎更多的法国人来中国旅游，并将把对包括法国在内的12个国家公民的短期免签政策延长至2025年底。"The recent extension of both the time limit and the list of countries brings a positive outlook for the long run. It alleviates concerns among European stakeholders regarding the policy's duration," said Peng Han, chief analyst for tourism media company Travel Daily.旅游媒体公司《环球旅讯》首席分析师韩鹏表示：“最近时间限制和国家名单的延长带来了长期的积极前景。它缓解了欧洲利益相关者对该政策持续时间的担忧，” Travel Daily data show that the total number of inbound tourists from visa-exempt countries in Southeast Asia such as Singapore, Malaysia and Thailand increased more than twofold year-on-year during the Labor Day holiday. In contrast, inbound tourism from Europe as of this year stood at only 30 percent of 2019 figures.《环球旅讯》数据显示，劳动节假期期间，来自新加坡、马来西亚、泰国等东南亚免签国家的入境游客总数同比增长两倍多。相比之下，截至今年，来自欧洲的入境游客仅占2019年数字的30%。According to Peng, European operators typically formulate outbound tourism plans for the following year in June and July, and decisions on whether to engage with Chinese products hinge on whether they receive a clear answer in time.韩鹏表示，欧洲运营商通常在6月和7月制定下一年的出境游计划，决定是否与中国产品合作取决于他们是否及时得到明确的答复。"The industry has been keeping an eye on long-term China-Europe relations and the continuity of the visa policy," he said.“业界一直在关注中欧长期关系和签证政策的连续性。”He said now that China has given a clear answer on opening its door to Europe through successive policies, it signals to the world the promise of a prosperous future.他说，现在中国已经通过一系列政策对向欧洲敞开大门给出了明确的答案，这向世界发出了一个繁荣未来的承诺。Although there has not been a sharp increase in the number of European tour groups coming to China until now, the number of independent travelers indicates the upside of the visa-free policy.尽管到目前为止，来中国的欧洲旅行团数量并没有大幅增加，但自由行游客的数量表明了免签证政策的好处。Ctrip data said that on March 14 alone, when the visa-free rules took effect, the number of inbound tourism bookings from the six newly added countries more than doubled compared with last year. The number of travel bookings from Belgium, Hungary and Switzerland tripled.携程数据显示，仅在3月14日免签政策生效当天，这六个新加入国家的入境旅游预订量就比去年增加了一倍多。来自比利时、匈牙利和瑞士的旅游预订量增加了两倍。According to the National Immigration Administration, more than 170,000 international visitors entered China visa-free through Shanghai Pudong International Airport in the first quarter of this year, showing an increase of 23.6 percent year-on-year.根据国家移民管理局的数据，今年第一季度，超过17万名国际游客通过上海浦东国际机场免签进入中国，同比增长23.6%。Shanghai, one of the top destinations for European tourists, has prepared itself for a surge in inbound tourism.作为欧洲游客的首选目的地之一，上海已经为入境旅游的激增做好了准备。"The resumption of international flights, the visa-free policy, and the full recovery of business at Shanghai International Cruise Home Port will contribute to the number of inbound tourists arriving in Shanghai, especially free independent travelers," said Zhou Weihong, deputy general manager of Spring Tour, a travel company in Shanghai.一家上海旅游公司春游的副总经理周卫红说：“国际航班的恢复、免签政策以及上海国际邮轮母港业务的全面恢复，将有助于增加到上海的入境游客数量，尤其是自由行游客。” David Huang, a French national who studied at the University of International Business and Economics in Beijing, and now works for a French chocolate company in Beijing, said he has applied for both student and work visas in the past.曾就读于北京对外经济贸易大学的法国人戴维·黄目前在北京一家法国巧克力公司工作。他说，他过去申请过学生签证和工作签证。"The student visa requires at least two months of preparations, including submitting various documents. I also spent more than two months preparing for my work visa after graduating from UIBE," he said.“学生签证至少需要两个月的准备时间，包括提交各种文件。从对外经贸大学毕业后，我也花了两个多月的时间准备工作签证。”Young French travelers avoid countries that have lengthy visa application procedures, he said, adding that being on a limited budget, buying an air ticket only to have a visa application rejected makes little financial sense for them.他说，年轻的法国旅行者会避开签证申请程序冗长的国家，并补充说，由于预算有限，买机票却被签证申请拒绝，这对他们来说没有什么经济意义。Business opportunities"My colleagues in global companies find it much simpler to travel. …Two-week visa-free access allows people to explore business opportunities in China."“我在跨国公司的同事们发现旅行要简单得多。……两周的免签证可以让人们在中国探索商机。”Laura Carbonell, a sales manager in Toledo, which is about 75 kilometers from the Spanish capital Madrid, said she visited China in November before the visa-free policy was introduced. Even the location of an embassy or consulate from a visa applicant's home can influence the travel decisions, she said.距离西班牙首都马德里约75公里的托莱多的销售经理劳拉·卡博内尔说，她去年11月在免签政策出台之前去过中国。她说，就连大使馆或领事馆离签证申请人家的距离也会影响他们的旅行决定。For European countries not on the visa-free list, the application procedures have been streamlined. China has been simplifying its visa procedures worldwide, including canceling appointment requirements and fingerprints for qualified applicants temporarily. Visa fees for travel to China before December for people of all countries have also been cut by 25 percent, according to the Ministry of Foreign Affairs.对于不在免签名单上的欧洲国家，申请程序已经简化。中国一直在简化其在全球的签证程序，包括暂时取消预约要求和对符合条件的申请人的指纹。根据外交部的消息，所有国家公民在12月之前前往中国的签证费也将降低25%。The Chinese embassy in Washington announced the simplification of the tourist visa application process for United States citizens starting from Jan 1 this year. US tourists can now enter China without providing round trip air tickets, hotel reservations, itineraries or an invitation letter.中国驻华盛顿大使馆宣布，从2024年1月1日起，将简化美国公民的旅游签证申请程序。现在，美国游客进入中国无需提供往返机票、酒店预订、行程或邀请函。"The future looks promising," Peng of Travel Daily said. "The revival of inbound tourism to its previous peak may simply be a matter of time."韩鹏表示：“未来看起来很有希望，入境旅游恢复到之前的峰值可能只是时间问题。”While China is sending clear signals of openness, political factors in the West are casting a shadow over cross-border travel. In March, the US said it is "taking steps to impose new visa restrictions on multiple Hong Kong officials", without elaborating on the visa measures or the officials targeted.虽然中国发出了明确的开放信号，但西方的政治因素正在给跨境旅行蒙上阴影。今年3月，美国表示正“采取措施，对多名香港官员实施新的签证限制”，但没有详细说明签证措施或针对的官员。 cross-border（公司）跨国的；（贸易）越过两边国界的visa-free免签证
MONEY FM 89.3 - Prime Time with Howie Lim, Bernard Lim & Finance Presenter JP Ong
It's all about travel today as we speak to one of the world's leading online travel agencies – Trip.com. On its own, Trip.com is a familiar name to many, with a network of over 1.4 million hotels in 200 countries and regions, as well as more than 2 million individual flight routes connecting over 5,000 cities around the globe. It is actually part of the NASDAQ and Hong Kong Exchange listed Trip.com Group which includes other brands such as Ctrip, Qunar and more notably, Skyscanner. The Group had in February reported a 105 per cent year-on-year growth in Q4 revenue to RMB 10.3 billion (US$1.5 billion), higher than market expectations of RMB 10.2 billion. The showing was said to be boosted by China's tourism recovery post-pandemic. But what were the other factors at play and how far did Trip.com as a brand contribute to the Group's balance sheet? Speaking of growth drivers, Trip.com Group had earlier noted that it is embarking on a “Hotel + X” strategy” to cater to millennial and Gen Z consumers who are looking to purchase both accommodations and experiences in one go. So what does this strategy look like when it comes to Trip.com as a standalone platform and how far has the move to cross-sell products bolstered its top and bottom lines? Meanwhile, Trip.com Group recently signed a deal with AirAsia owner Capital A to enhance travel offerings within Asia. But again, what will this mean for the platform Trip.com? On Under the Radar, The Evening Runway's finance presenter Chua Tian Tian posed these questions to Schubert Lou, Chief Operating Officer, Trip.com.See omnystudio.com/listener for privacy information.
It took six hours for Liu Yi, 26, to get to Tianshui, Northwest China's Gansu province, by train. It took another two hours of waiting in a queue before he could finally get his hands on a bowl of local malatang — a mix of foods boiled in hot, spicy broth.26岁的刘毅乘坐了六个小时火车到达中国西北部甘肃省天水市，在排了两个小时的队后，终于吃到了一碗天水麻辣烫。这是一种以麻辣汤汁为底、炖煮各种食材的特色美食。While choosing the ingredients he wanted, Liu picked wide, thin rice noodles and a lot of chillies, along with the usual vegetables and meat. Spicy food is a must for Liu, a native of Southwest China's Sichuan province.在挑选食材时，刘毅选了宽粉和大量的辣椒，还有常见的蔬菜和肉类。对于刘毅这种土生土长的四川人来说，辣椒必不可少。The malatang did not disappoint. "It has a kind of rich fragrance," Liu said, after wiping hismouseclean.大快朵颐后，刘毅评价道：“天水麻辣烫有一种浓郁的香味”。The popularity of the dish is suddenly soaring. Thousands of diners like Liu have been making their way to the little-known northwestern city to try malatang, overwhelming local restaurant owners and contributing to local wealth.近期，麻辣烫的受欢迎程度突然飙升。成千上万像刘毅一样的食客来到这个鲜为人知的西北城市品尝当地麻辣烫，对此当地餐馆老板甚至有些招架不住。这一盛况也为当地经济发展作出巨大贡献。These days around 7 am, Ga Haiying's restaurant in Qinzhou district becomes crowded with diners, some still rubbing their sleepy eyes. Earlier, the restaurant would open at 11 am. To serve the surging number of customers, Ga and her family now work from 6:30 am to 10 pm every day. They are too busy to pause for lunch.天水市秦州区嘎海英的餐馆在天水麻辣烫爆火前通常都是上午11点开门。而这些天，早上7点左右餐馆就挤满了食客，不少食客甚至还睡眼惺忪。为了服务激增的顾客，嘎海英和她的家人需要每天从早上6:点半工作到晚上10点，生意繁忙甚至都无暇吃午饭。"I have sold malatang for 30 years," Ga said. "I never dreamed that one day it would be so popular." Recently, more than 1,000 customers have been trooping into her restaurant daily, despite an average waiting time of about two hours. The restaurant's revenue has tripled.嘎海英说：“我卖麻辣烫卖了30年了，做梦也没想到有一天它会这么火爆。” 最近，前来的游客平均要等近两个小时才能吃上饭，尽管如此，每天仍有超过千名顾客涌入她的餐厅。餐厅的收入是原来的三倍。Ma Yulin, a malatang restaurant owner in the city's Maiji district, said that over the last 10 days, the establishment was packed with diners, more than half of whom were from other cities. Many young customers not only come to eat but also take photos. Ma has hired more workers and added seats to cut the waiting time.天水市麦积区一家麻辣烫餐馆老板马玉林说，过去10天，店里挤满了食客，其中一半以上来自外地。很多年轻顾客不仅来吃饭还拍照。为此，他专门多雇佣了服务员并增加了座位以减少顾客等待时间。"I'm exhausted," he said. "I'm overwhelmed that our malatang is suddenly recognized by so many."马玉林表示：“这几天真是累坏了，想不到我们的麻辣烫突然得到这么多人的喜欢”。In a typical malatang restaurant, customers select fresh food items, strung on skewers and hand them over to the chef. The chosen ingredients are boiled in the broth and then scooped into a bowl, with or without the original soup, depending on the customers' preferences. With two spoonfuls of oil and pepper drizzled on top, the bowls fairly burst with flavor.在吃麻辣烫时，通常由顾客自己选择想吃的串串，厨师会用高汤烫煮熟所选食材，舀入碗中，可自行选择加或不加原汤，最后淋上两勺辣油和胡椒粉，香气扑鼻而来，让人垂涎三尺。Since early March, videos and photos of Tianshui malatang have been going viral on social media platforms. It all started when a netizen released a seven-second video on Feb 13 that garnered millions of views. More vloggers followed suit, and then the tourists began to arrive in droves.自3月初以来，天水麻辣烫相关的视频和照片在社交媒体平台上十分火爆。最开始是一位网友于2月13日发布了一段7秒的视频，获得了数百万次观看。其他视频博主纷纷效仿，游客也开始成群结队地涌来。Within a month, bookings for hotel rooms in Tianshui had quadrupled year-on-year, according to Ctrip, an online travel platform. Qinzhou district, where most malatang restaurants and attractions are located, received more than 770,000 tourists, local authorities said.据线上旅游平台携程网数据，最近一个月，天水的酒店客房预订量同比增长了四倍。当地政府表示，聚集着大量数麻辣烫餐厅和景点的秦州区接待游客超过77万人次。Lei Hongliang, director of the Tianshui Catering Industry Association, said the special pepper used in the dish is key to the unique flavor. Gangu pepper — from the city's Gangu county — is nationally recognized. It tastes good, but is not as spicy as some other types.天水市餐饮行业协会会长雷鸿亮表示，这道菜所用的特制辣椒给这道大众小吃注入了独有的“天水味道”。产自天水市甘谷县的甘谷辣椒是全国著名的辣椒品种，红而不辣，味道鲜香。To increase the popularity of malatang, he suggested maintaining a stable price and standardized flavor to "make Tianshui flavor a distinctive brand". Each bowl on average costs about 21 yuan ($2.95).为了提高天水麻辣烫的知名度，雷鸿亮建议统一口味标准、同时要稳住价格，将天水风味打造成特色品牌。目前当地麻辣烫每碗平均售价约为21元。Tianshui has adopted measures to better serve tourists. Tourists arriving by train are greeted by welcome banners and offered free bus rides. Free parking lots are provided to motorists. Some workers from local scenic attractions distribute tickets and give out mascot or gifts at the malatang restaurants.此外，天水市还多措并举，努力提升服务质量。乘火车抵达的游客会看到准备的欢迎横幅，并可免费乘坐巴士。为驾车者提供免费停车场。当地景区的一些工作人员在麻辣烫餐厅分发门票、赠送吉祥物或礼物。The city's attractions include the Maijishan Grottoes, a UNESCO world cultural heritage site, the temple of Fuxi — the legendary ancestor of the Chinese nation — and Nanshan Mountain.该市的景点包括被联合国教科文组织列为世界文化遗产的麦积山石窟、中华民始祖伏羲庙和南山。Feng Wen'ge, Party secretary of Tianshui, said at a conference on Saturday that the explosive popularity of Tianshui malatang presents a rare opportunity to enhance the city's reputation and also test its service capabilities. He added that every effort should be made to meet visitors' demands and improve their experience by increasing offerings and improving service quality.天水市委书记冯文戈在一次会议上表示，天水麻辣烫的爆火，为提升天水城市声誉提供了难得的机遇，同时也是对天水服务能力的一次考验。要尽力满足游客的需求，通过增加服务内容和提高服务质量来改善游客的体验。He also emphasized the need to ensure traffic, food and fire safety, as well as environmental hygiene at key locations such as airports, railway stations and commercial streets."All forces should be mobilized to provide comprehensive services in every aspect, ensuring that visitors to Tianshui can eat, play and travel with pleasure," he said.他还强调，要保证机场、火车站、商业街等重点场所的交通、食品、消防安全和环境卫生。要动员各方力量，全方位提供综合服务，确保游客来天水吃得开心、玩得开心、游得开心。fire safety消防安全broth英 /brɒθ/ 美 /brɑːθ/n.汤，肉汤
Are we seeing the start of a transformation in China's travel sector? While outbound tourism grabs the headlines, a vibrant domestic travel recovery and a shift towards opening up its inbound sector garner less coverage. That is starting to change as the Chinese government expands its visa-free policy to visitors from 15 countries (11 from Europe and 4 from South East Asia). Given that inbound travel has always been a low priority, has the pandemic changed everything? And how closely is this dramatic shift aligned with a drive to attract more investment for reviving the economy? To analyse these questions, Gary is joined by Shanghai-based Yereth Jansen, China CEO of Darling Advertising and a UN Tourism consultant. We address the impact of the Covid years on China's travel economy, and the current state of the domestic recovery. Also. we assess moves to make it easier for foreign visitors to navigate their way around China and pay for products and services, and how provincial governments are developing new international marketing campaigns. Plus, we look at how live-streaming and short-video apps are gaining market share in China for selling travel products, and the pressure this places on OTAs like Ctrip - which is ramping up the APAC marketing strategy for its Trip.com brand.
For the Chinese people, the eternal theme of the Spring Festival, or Chinese New Year, remains family reunion, yet an increasing number of Chinese are choosing to integrate travel into their holiday traditions.The change was seen this year as the Spring Festival holiday spanned eight days -- possibly nine with a flexible one-day paid leave -- surpassing the usual one-week holiday in previous years.According to data released Saturday by Chinese travel website Mafengwo, Monday and Tuesday saw peak travel activity."We made a random decision to drive to the historic city of Datong (in northern China) on Monday but were surprised to see a large number of tourists. Local hotel chains are almost always full, and restaurants almost always have a waiting line," said a tourist surnamed Li.NEW TRENDS IN DOMESTIC TOURISMAccording to Mafengwo, family travel accounted for 45 percent of all trips during the holiday, reflecting a trend that young people return home for family reunions before embarking on trips with their families, taking advantage of the extended holiday period.Beijing, Xi'an and the Guangdong-Hong Kong-Macao Greater Bay Area were among the most popular tourist destinations, said Mafengwo, adding that visiting museums, grottoes, temples and other historical and cultural places was another highlight of this year's Spring Festival travel after temple fairs and folk activities.A report by travel portal Tuniu.com showed an emerging trend for cross-regional travel between the northern and southern parts of the country during the holiday.Harbin, capital of northeastern Heilongjiang province, maintained its growing popularity among people from the South who are eager to explore an ice-and-snow world, while tropical cities such as Sanya, Xishuangbanna, and Beihai remained favored destinations for northlanders seeking winter getaways.SURGING OUTBOUND TOURISMData from multiple online travel platforms showed that on the first day of the eight-day holiday, outbound travel bookings already surpassed the 2019 figure, with Southeast Asian countries, particularly those with visa-free policies for Chinese nationals, emerging as red-hot destinations.From Feb 10 to 13, bookings for hotels in Bangkok tripled year on year, while reservations for Singaporean hotels reported a stunning growth of 800 percent, according to the travel platform LY.com.Several European destinations have introduced unique strategies to attract Chinese tourists. A Michelin-starred restaurant in downtown London has launched a menu specially designed for the Year of the Loong (Dragon), while a railway for the well-known scenic spot Jungfrau in Switzerland has been decorated with Chinese elements to greet Chinese tourists between Feb 8 and 20.With a substantial rise in outbound tourism, this holiday is projected to see a daily port clearance of 1.8 million people nationwide, more than triple that of the previous year and nearly reaching the level of 2019, according to the National Immigration Administration.According to a market forecast by Ctrip, a leading travel platform in China, the eight-day holiday would mark the country's first travel rush of the year, with a notable increase in international travel being one of the highlights."Destinations in Southeast Asia have continued to gain traction as many in China opted for the region for an escape from the winter season," said Gao Tao, from Tuniu. "The tourism industry has gone through a rough patch in the past three years due to the pandemic. But it is now poised for a growth spurt, particularly in outbound tourism."In 2023, China saw its outbound passenger trips exceed 87 million, and this figure is projected to reach 130 million in 2024, according to a paper published by the China Tourism Academy.UPWARD MOMENTUMExperts believe that the revved-up Spring Festival tourism consumption heralds an upward momentum in the tourism sector in 2024.In a recent report, the China Tourism Academy estimated that over 6 billion domestic trips will be made in 2024, and the total number of inbound and outbound travelers is expected to exceed 260 million."With the recovery of the economy, the resumption of international flights and the relaxation of visa policies, it is expected that the scale of domestic tourism consumption will continue to grow in 2024, and the scale of outbound tourism will be comprehensively advanced," said Qi Chunguang, vice president of Tuniu.
China and Singapore on Thursday signed an agreement on mutual visa exemption in Beijing, which allows the holders of ordinary passports stays of up to 30 days. The agreement will take effect on Feb 9, the Chinese New Year's Eve.1月26日，中国和新加坡在北京签署了互免签证协议，允许普通护照持有人停留最多30天。该协议将于2月9日，即农历除夕夜生效。The visa exemption applies for tourists, and those visiting family members or for business, according to the agreement.根据协议，免签适用于游客、探亲或商务人士。China's Foreign Ministry spokesman Wang Wenbin told a news conference that the agreement is "a Chinese New Year gift for people of both countries". "The agreement will surely further enhance people-to-people exchanges between China and Singapore, and promote the progress of bilateral ties and cooperation in various fields," Wang said.中国外交部发言人汪文斌在新闻发布会上表示，该协议是“给两国人民的春节礼物”。协议的签订必将进一步加强中新人文交流，推动两国关系和各领域合作取得新进展。Singapore has gained increasing popularity among Chinese tourists during the upcoming Chinese New Year holiday, according to Ctrip, a Chinese online travel agency. According to the agency's statistics, the bookings for people traveling from China to Singapore during the Spring Festival holiday have seen a 14-fold increase year-on-year by Wednesday. Malaysia and China granted visa-free entry to each other's citizens in December. Earlier this month, China said it would implement a unilateral visa-free entry for those holding Ireland and Switzerland passports.据中国在线旅行社携程网称，新加坡日益成为中国游客度过新春假期的热门选择。据该网站数据计，截至周三，春节期间从中国前往新加坡的旅客预订量同比增长14倍。马来西亚和中国于十二月向彼此公民提供免签证入境。本月早些时候，中国表示将对持有爱尔兰和瑞士护照的人实施单边免签入境。High-level opening-up高水平对外开放Wu Xi, head of the Department of Consular Affairs of China's Foreign Ministry, said China has shown its resolve to promote the high-level opening-up by adopting a series of measures to facilitate cross-border travel."We welcome friends from countries across the world to come to China for travel, business, investment and study," Wu said during an interview with China Media Group.中国外交部领事司司长吴玺表示，中国采取一系列便利跨境旅行的措施，表明了推动高水平开放的决心。在接受中央广播电视总台采访时说：“中国欢迎世界各国朋友来中国旅游、经商、投资、留学”。China has enjoyed comprehensive mutual visa exemption with 22 countries, including Singapore, the Maldives and Kazakhstan. Wu said she hopes Chinese and foreign visitors will maintain the order of cross-border travel by respecting the laws and regulations of the countries they are traveling to and bilateral agreements signed between China and other countries.中国已与新加坡、马尔代夫、哈萨克斯坦等22个国家全面互免签证。吴玺表示，希望中外游客遵守前往国法律法规和中外签署的双边协议，维护跨境旅游秩序。Visa waiver agreement互免签证协议Foreign Ministry外交部The Department of Consular Affairs 领事司
Ban Ruiqi and her family recently took a trip to Harbin in Northeast China's Heilongjiang province. Despite the extremely cold weather there, the tourists from Beijing skied, shopped and generally had a good time during the three-day New Year holiday.恰逢三天元旦假期，来自北京的班瑞琪和她的家人前往中国东北部黑龙江省哈尔滨旅行。虽然天气极其寒冷，他们依然体验了滑雪、购物，总体上玩得很开心。"We went to the Chinese-Baroque Historic Block in the morning, and the Harbin Ice and Snow World in the afternoon, where I saw some local souvenirs and specialties. I bought some for my friends and relatives back home. I especially liked the hand-drawn postcards," Ban said.班瑞琪说：“我们上午去了中国巴洛克历史街区，下午去了哈尔滨冰雪大世界，在那里看到了一些当地纪念品和特产，就给家里的朋友和亲戚买了一些。我特别喜欢手绘明信片。”As an increasing number of travelers show greater enthusiasm for winter tourism, Harbin's ice and snow economy is booming.随着冬季旅游受到越来越多游客的青睐，哈尔滨的冰雪经济也得以蓬勃发展。With the opening of various ice and snow-themed parks, the city has become popular among tourists. In the two weeks since the opening of the Harbin Ice and Snow World on Dec 18, the city's popularity in searches on China's travel website Mafengwo surged 300 percent, making it an "internet celebrity" city, data from the online platform showed.随着各种冰雪主题公园的开放，哈尔滨吸引来了众多游客。在线平台数据显示，自12月18日哈尔滨冰雪大世界开放以来的两周内，哈尔滨在中国旅游网站马蜂窝的搜索频次飙升了300%，成为了一座“网红城市”。According to Harbin Taiping International Airport, the airport realized an annual throughput of 20 million passenger trips on Dec 20, setting a record for the Northeast China region.哈尔滨太平国际机场的数据显示，12月20日该机场年旅客吞吐量达2000万人次，创下了中国东北地区的纪录。A report released by online travel agency Ctrip showed Harbin ranked on a list of hot New Year holiday tourism destinations in China this year.携程在线旅游发布的一份报告显示，哈尔滨在今年中国春节热门旅游目的地名单中名列前茅。During the three-day holiday period, air and train ticket bookings to Harbin grew by 631 percent year-on-year.在为期三天的假期期间，飞往哈尔滨的机票和火车票预订量同比增长了631%。The Harbin airport added 11 domestic routes, and operated 463 flights, on Dec 22, transporting over 70,000 passengers, setting a record for passenger flow.12月22日，哈尔滨机场新增11条国内航线，运营航班463架次，运送旅客7万余人次，创下客流纪录。On Dec 26, hotel bookings in Harbin for the New Year holiday on Beijing-based online travel agency Qunar surged 2,570 percent on a yearly basis, while those for bed-and-breakfast stays on homestay platform Tujia soared 2,700 percent.12月26日，北京在线旅游去哪儿网显示，哈尔滨元旦假期酒店预订量同比飙升2570%，而民宿平台途家的民宿预订量飙升2700%。“进入冬季旺季，尤其是哈尔滨冰雪大世界开业后，我们的房间预订一直保持满员状态，这种情况将持续到春节期间，”哈尔滨现代酒店总经理助理邓一波说。"Entering the winter peak season, especially after the opening of the Harbin Ice and Snow World, our room reservations have remained full, and the situation will last until the Spring Festival period," said Deng Yibo, general manager assistant at the Modern Hotel in Harbin. “进入冬季旺季，尤其是哈尔滨冰雪大世界开业后，我们的房间预订一直保持满员状态，这种情况将持续到春节期间，”哈尔滨现代酒店总经理助理邓一波说。"Tourism souvenirs have mostly been sold out, especially hand-drawn postcards. Postcards of various tourist spots are popular; so are candies and chocolates from Russia. The shelves are basically empty," said Meng Fanbo, a staff member at a gift shop in Harbin.哈尔滨一家礼品店的工作人员孟凡波说：“旅游纪念品大多卖完了，尤其是手绘明信片。各种旅游景点的明信片很受欢迎；来自俄罗斯的糖果和巧克力也很受欢迎，货架基本都被扫空了。”Wang Hongxin, head of the bureau of culture, broadcasting, TV and tourism of Harbin, said, "The winter tourism season in Harbin has been so popular that we expect such a 'heat' will last until the end of March."哈尔滨市文化广电旅游局局长王洪新表示，“哈尔滨的冬季旅游旺季非常受欢迎，我们预计这样的‘热度'将持续到3月底。”In January 2023, the China Tourism Academy issued a report on the development of Harbin's ice and snow tourism.2023年1月，中国旅游研究院发布哈尔滨冰雪旅游发展报告。It said that with a high concentration of ice and snow resources in China, Harbin has gone through the primary stage of serving human transportation through ice and snow, and entered the advanced stage of using ice and snow resources to drive urban development.报告显示，哈尔滨已经走过以冰雪运动服务人类交通运输的初级阶段，进入了运用冰雪资源驱动城市发展的高级阶段。In May 2022, Harbin launched a development plan for its ice and snow economy.2022年5月，哈尔滨市启动了冰雪经济发展规划。According to the plan, by 2025, total output value of the city's ice and snow industry should reach 75 billion yuan ($10.5 billion), taking up over a quarter of the province's total in the sector.根据规划，到2025年，全市冰雪产业总产值要达到750亿元（105亿美元），占全省冰雪产业总产值的四分之一以上。By 2030, that should take up over a third of the province's total and surpass 150 billion yuan.到2030年，冰雪产业总值将占全省GDP的三分之一以上，超过1500亿元。Huang Dawei, deputy head of the bureau of culture, broadcasting, TV and tourism of Harbin, said, "Through coordinating the development of four key ice and snow industry clusters — ice and snow sports, ice and snow culture, ice and snow equipment, and ice and snow tourism — Harbin was successfully granted the right to host the 9th Asian Winter Games 2025."哈尔滨市文化广电旅游局副局长黄大伟说：“通过协调冰雪运动、冰雪文化、冰雪装备和冰雪旅游四个重点冰雪产业集群的发展，哈尔滨成功获得了2025年第九届亚洲冬季运动会的主办权。”Hong Yong, an associate research fellow at the e-commerce research institute of the Ministry of Commerce, said: "Harbin's ice and snow economy is on the rise, bringing real benefits to the local merchants. To promote the long-term development of the industry, it is suggested that the government offer more favorable policies, such as helping lower merchants' winter operating costs, and providing marketing platforms. Meanwhile, enterprises should offer high-quality goods and services to meet consumer demand against the backdrop of a consumption upgrade."商务部电子商务研究所副研究员洪勇表示：“哈尔滨的冰雪经济正在崛起，给我们本地商家带来了实实在在的好处。要促进行业的长期发展，政府还要提供更多优惠政策，如降低商家冬季运营成本、提供营销平台。同时，在消费升级的背景下，企业应该提供高质量的商品和服务来满足消费者需求。”homestay英 /ˈhəʊm.steɪ/ 美 /ˈhoʊm.steɪ/noun 寄宿，民宿boom英/buːm/ 美 /buːm/noun 蓬勃发展
This week's podcast is Part 1 of Capabilities, Resources and Assets (CRAs). They are a key part of strategy. And link operating performance with structural advantages. You can listen to this podcast here, which has the slides and graphics mentioned. Also available at iTunes and Google Podcasts.Here is the link to the TechMoat Consulting.Here is the link to our China Tech Tour.Key points:Point 1: Operating performance and structural advantage are separate parts of strategy and management.Point 2: But they are also linked. By a select list of capabilities, resources, and assets (CRAs)Point 3: Operating activities create and maintain CRAs, which can be tangible and intangible.Point 4: Sometimes CRAs can manifest as competitive advantages and barriers to entry. Point 5: CEOs need to identify moats. And then chart a path of critical CRAs to build and rebuild them. —---–Related articles:Lessons in Digital Operating Basics from Ram Charan. Part 1 of 2 on “Rethinking Competitive Advantage”. (Asia Tech Strategy – Podcast 98)Meituan vs. Ctrip vs. Alibaba: Who Will Win in China Services? (Jeff's Asia Tech Class – Podcast 22)From the Concept Library, concepts for this article are:Capabilities, Resources and AssetsIntangible AssetsSerial MoatsFrom the Company Library, companies for this article are:n/a——-----I write, speak and consult about how to win (and not lose) in digital strategy and transformation.I am the founder of TechMoat Consulting, a boutique consulting firm that helps retailers, brands, and technology companies exploit digital change to grow faster, innovate better and build digital moats. Get in touch here.My book series Moats and Marathons is one-of-a-kind framework for building and measuring competitive advantages in digital businesses.This content (articles, podcasts, website info) is not investment, legal or tax advice. The information and opinions from me and any guests may be incorrect. The numbers and information may be wrong. The views expressed may no longer be relevant or accurate. This is not investment advice. Investing is risky. Do your own research.Support the show
This week's podcast is Part 2 of an introductory explanation for the Digital Operating Basics. This is a very useful framework for thinking about digital transformation.You can listen to this podcast here, which has the slides and graphics mentioned. Also available at iTunes and Google Podcasts.Here is the link to the TechMoat Consulting.Here is the link to the China Tech Tour.Here is my summary of digital operating basics (Dr. Ram's book combined with some of my own thinking):Rapid Growth at Small Incremental Cost. And Without Constraints.Never-Ending Personalization and Customer Improvements.Digital Core for Management and Operations.Connectedness, Interoperability and Coordination-Based Operating Models (Including Platforms and Ecosystems).Leadership and Management.People, Culture and Teams.Sustainable Cash Engine that Scales——–Related articles:Lessons in Digital Operating Basics from Ram Charan. Part 1 of 2 on “Rethinking Competitive Advantage”. (Asia Tech Strategy – Podcast 98)Meituan vs. Ctrip vs. Alibaba: Who Will Win in China Services? (Jeff's Asia Tech Class – Podcast 22)From the Concept Library, concepts for this article are:Digital Operating BasicsFrom the Company Library, companies for this article are:n/a---------I write, speak and consult about how to win (and not lose) in digital strategy and transformation.I am the founder of TechMoat Consulting, a boutique consulting firm that helps retailers, brands, and technology companies exploit digital change to grow faster, innovate better and build digital moats. Get in touch here.My book series Moats and Marathons is one-of-a-kind framework for building and measuring competitive advantages in digital businesses.Note: This content (articles, podcasts, website info) is not investment advice. The information and opinions from me and any guests may be incorrect. The numbers and information may be wrong. The views expressed may no longer be relevant or accurate. Investing is risky. Do your own research.Support the show
This week's podcast is Part 1 of an introductory explanation for the Digital Operating Basics. This is a very useful framework for thinking about digital transformation.You can listen to this podcast here, which has the slides and graphics mentioned. Also available at iTunes and Google Podcasts.Here is the link to the TechMoat Consulting.Here is the link to the China Tech Tour.Here is my summary of digital operating basics (Dr. Ram's book combined with some of my own thinking):Rapid Growth at Small Incremental Cost. And Without Constraints.Never-Ending Personalization and Customer Improvements.Digital Core for Management and Operations.Connectedness, Interoperability and Coordination-Based Operating Models (Including Platforms and Ecosystems).Leadership and Management.People, Culture and Teams.Sustainable Cash Engine that Scales--------Related articles:Lessons in Digital Operating Basics from Ram Charan. Part 1 of 2 on “Rethinking Competitive Advantage”. (Asia Tech Strategy – Podcast 98)Meituan vs. Ctrip vs. Alibaba: Who Will Win in China Services? (Jeff's Asia Tech Class – Podcast 22)From the Concept Library, concepts for this article are:Digital Operating BasicsFrom the Company Library, companies for this article are:n/a--------I write, speak and consult about how to win (and not lose) in digital strategy and transformation.I am the founder of TechMoat Consulting, a boutique consulting firm that helps retailers, brands, and technology companies exploit digital change to grow faster, innovate better and build digital moats. Get in touch here.My book series Moats and Marathons is one-of-a-kind framework for building and measuring competitive advantages in digital businesses.Note: This content (articles, podcasts, website info) is not investment advice. The information and opinions from me and any guests may be incorrect. The numbers and information may be wrong. The views expressed may no longer be relevant or accurate. Investing is risky. Do your own research.Support the show
Visiting the campuses of the famous Peking University and Tsinghua University is a huge summer attraction for Chinese students and their parents. As only a limited number of visitors are allowed to enter the premises of the two universities on any given day, scalpers are making big money by selling free entry tickets at high prices to eager students. 参观著名的北京大学和清华大学校园是暑期吸引中国学生和家长的一个热门旅游景点。由于这两所大学每天只允许有限数量的游客入内，黄牛们通过高价出售免费门票来赚取高额利润。The campuses have only recently reopened to the public after remaining closed for three years due to the COVID-19 pandemic. Now that visitors are being allowed in again, there is a massive rush to book the limited number of free tickets that are released by the universities for day trips. The scalpers, some of whom are former students of the two universities, have been profiting from this situation. 这两所大学的校园由于新冠疫情封闭了三年之久，最近才重新对公众开放。现在游客再次被允许入内，每天所释放的限量免费门票成为抢手货。其中一些黄牛甚至是这两所大学的校友，他们从中牟利。Peking University has acted against 46 former students who raked in around 1.5 million yuan ($210,000) from 139 students who wanted to visit the campus, said a notice issued by the university recently. Each of the 139 students was charged 10,800 yuan for a "study tour" that included visits to the university. 北京大学日前发布公告称，该校已对46名前学生采取了行动，他们从139名希望参观校园的学生那里敛财约150万元人民币（约合21万美元）。这139名学生每人被收取了10800元的“参观学习”费用，其中包括参观北大。The university, which allows former students to book tickets for up to three companions to enter the campus during the summer vacation, has suspended the 46 former students' access to booking tickets either for themselves or others. 这所大学允许毕业生在暑假期间为最多三名同伴预订进入校园的门票，但已暂停了这46名毕业生为自己或他人预订门票的权限。On July 8, both PKU and Tsinghua reopened their campuses to the public, and visitors need to book appointments in advance. While PKU did not specify how many visitors are being allowed daily, Tsinghua University said it is letting in 4,000 visitors a day. 7月8日，北京大学和清华大学重新向公众开放校园，但参观者需要提前预约。北京大学没有说明每天允许多少游客参观，而清华大学则表示每天允许4000名游客参观。Experts said the strong interest among parents and students to visit the two universities means the campuses would be swamped with people if there are no restrictions, yet allowing in only those who have booked slots in advance is helping unscrupulous elements to exploit the situation. 专家表示，家长和学生对参观两所大学的浓厚兴趣意味着，如果不加限制，两所大学的校园将人满为患，但只允许提前预订时段的人进入，这就助长了不法分子的钻空子行为。On travel portal Ctrip, a five-day summer camp to PKU and Tsinghua costs around 5,000 yuan. The trip includes meeting students from the two universities, taking pictures with them, learning about the admission process from them and also attending lectures given by professors. 在旅游门户网站携程网上，为期五天的北京大学和清华大学夏令营费用约为5000元。行程包括与两所大学的学生见面、合影留念、向他们了解入学流程，以及聆听教授的讲座。However, there is no way of actually verifying if the students and professors are really from the universities. Moreover, the trip does not promise entry into the university campuses. It only talks about visits to the "outside" of the universities. 但是，无法实际核实学生和教授是否真的来自大学。此外，这次旅行并不承诺进入大学校园。它只谈及对大学“外部”的访问。According to Nanfang Metropolis Daily, a woman surnamed Li from Hangzhou said that she signed her child up for a five-day study tour to the universities, costing 4,980 yuan, but her child did not even get to enter the two universities, and had to be satisfied with photographs taken at the gates. 据《南方都市报》报道，杭州一位李姓女士说，她给孩子报了五天的大学游学团，花了4980元，但孩子连两所大学的大门都没进，只能在校门口拍照。Apart from the so-called study tours, simply entering the two universities is now costing a lot of money. Netizens have complained on different social media platforms about the difficulties they have faced in obtaining a free slot to visit the two universities, while others claimed that they got the tickets for a price. 除了所谓的游学团，现在仅仅进入这两所大学就要花很多钱。网民在不同的社交媒体平台上抱怨，他们很难获得免费参观两所大学的名额，而其他人则声称，他们是花钱买到门票的。According to Beijing Business Today, scalpers have been selling tickets for a day tour of the campuses at 300 to 500 yuan. People wanting to visit have to share their ID number and phone number with the scalpers, who claim they can get the entry tickets as soon as they are released. 据《北京商报》报道，黄牛以300至500元的价格出售校园一日游门票。想去参观的人必须把身份证号和电话号码告诉黄牛，黄牛声称只要一放出门票就能拿到。There have been instances where people have paid the money to the scalpers, but have not got the tickets in return. 曾有一些人向黄牛支付了钱，却没有换来门票。A 19-year-old student surnamed Han said he paid a scalper 20 yuan to enter Tsinghua, and sent his personal information as advised. However, when he tried to enter the campus, the security guard told him the ticket system did not have his information. 一位19岁的韩姓学生说，他向黄牛支付了20元钱，并按照建议发送了个人信息，以进入清华校门。然而，当他试图进入校园时，保安告诉他，售票系统没有他的信息。When he tried to ask for his money back, the scalper blocked his number. 当他试图要回自己的钱时，黄牛拉黑了他的号码。Sun Zhifeng, a lawyer at Chance Bridge Law Firm, said it is difficult to crack down on such scalpers, as many are anonymous online entities. 北京卓纬律师事务所的律师孙志峰表示，很难打击此类黄牛，因为许多黄牛都是匿名的网络实体。However, if a lot of money is involved, they can be tracked for committing fraud and carrying out illegal business operations, Sun said.不过，孙志峰说，如果涉及大量资金，就可以追查他们的诈骗和非法经营行为。Profit英/ˈprɒfɪt/美/ˈprɑːfɪt/v.赢利，获利Fraud英/frɔːd/ 美/frɔːd/n.欺诈，骗局，诡计Reporter: Zou ShuoIntern : Zang Tianyi
China will fully restore fast-lane entry and exit services at all ports starting on Monday, facilitating the cross-border travel of Chinese citizens and foreign nationals.The National Immigration Administration issued a circular on Thursday announcing the adjustments to immigration policies.Chinese nationals will be allowed to use fast lanes for expedited border inspection on the following travel documents: Chinese ordinary passports, exit-entry permits for travel to and from Hong Kong, Macao and Taiwan, mainland travel permits for Hong Kong and Macao residents, five-year mainland travel permits for Taiwan residents, and multiple entry permits valid for one year, the administration said in a notice.Foreigners can use the service with their passports and China-issued ID cards for foreign permanent residents, or with their electronic passports and residence permits with a validity period of more than six months, it added.Chinese crewmembers working on scheduled international flights and foreign crewmembers who are visa-free or have obtained flight attendant/employment visas or residence permits for one year or longer can also use the channel, said the circular.China will fully resume group travel permits for mainland residents to Hong Kong and Macao. Mainland residents may submit their applications to any national entry and exit administration center, it said.In addition, mainland residents can apply for permits to visit relatives, and to work and study in Hong Kong and Macao at any exit and entry administration center across the country.Immigration authorities will also adjust the validity period of the visa for mainland students studying in Macao from a maximum of one year to the match the length of their study in Macao.Lin Zhizhuo, a manager of Ctrip, a Chinese travel service provider, said that the adjusted policies will benefit people who are not employed where they have registered residence, and it will greatly ease the visa application process for tourists to Hong Kong and Macao.As immigration policies have become more flexible, more tailored package products will emerge. The policy of applying for travel permits at any immigration center provides great convenience for tourists, who are not restricted to their place of departure, Lin said.Ways of traveling to Hong Kong and Macao are also becoming more diversified. In April, high-speed rail services to and from Hong Kong resumed from cities such as Chongqing, Zhengzhou in Henan province, Changsha in Hunan province and Kunming in Yunnan province.According to Ctrip, orders for group tours to Hong Kong and Macao rose about 70 percent in May from April.Fang Zhibo, head of the border inspection division of the Hong Kong-Zhuhai-Macao Bridge Exit and Entry Frontier Inspection Station in Guangdong province, said that the station has been using fast-lane services since Jan 8, and the latest policy adjustment will further facilitate the entry and exit of residents from the mainland, Hong Kong, Macao, Taiwan and foreign nationals, and the number of cross-border travelers is expected to increase after the implementation of the policy."We will complete the inspection system upgrade and optimize the allocation of police officers, strengthen assistance offered to special groups such as the elderly, and serve the vast number of tourists," Fang said.According to the National Immigration Administration, immigration authorities nationwide conducted about 6.27 million inspections of people exiting or entering the mainland during the five-day May Day holiday this year, and about 3.15 million of them were for those leaving.In addition, data released on May 3 by the Ministry of Culture and Tourism showed that during the holiday, outbound tourism rose nearly sevenfold year-on-year.Fanny Yeung, executive director of the Travel Industry Council of Hong Kong, said that the new measures are good news for the tourism industry. However, it is not expected that there will be a large increase in mainland visitors very soon, and Hong Kong's reception capacity also needs to be improved.Immigration英/ˌɪmɪˈɡreɪʃ(ə)n/ 美/ˌɪmɪˈɡreɪʃn/n.移民（入境）；移民人数；移民局入境检查Frontier英/ˈfrʌntɪə(r)/ 美/frʌnˈtɪr/n.边境，国界
In the early morning of Feb 6, Li Nan, a tour guide from China Tourism Group, was busy helping tourists check in their baggage at Beijing Capital International Airport for a long-awaited trip to Singapore.2月6日凌晨，中国旅游集团的导游李楠在北京首都国际机场忙着帮游客办理行李托运，准备开始期待已久的新加坡之旅。The 15 travelers made up the first Singapore-bound tour group departing from Beijing since the country resumed outbound group travel on Monday. Outbound group tour services have been suspended in China over the past three years due to COVID-19.自2月6日中国恢复出境游以来，这15名游客组成了首个从北京出发的新加坡旅游团。受疫情影响，过去三年中国出境游团队暂停了服务。"I am really excited today," Li said, adding that it marks a rebound and a new beginning of the domestic tourism industry.李楠说“我今天真的很兴奋，”并表示这还标志着国内旅游业的恢复和一个新的开始。Besides Singapore, travel agencies are permitted to organize group tours to 19 other countries and regions including Thailand, the United Arab Emirates, Egypt, Russia and New Zealand.除新加坡外，旅行社还获准组织赴泰国、阿联酋、埃及、俄罗斯和新西兰等19个国家和地区的团体旅游。Also starting on Monday, cross-border travel between the Chinese mainland and Hong Kong and Macao was fully resumed.同样从2月6日开始，中国大陆与香港和澳门之间的跨境旅行全面恢复。Dai Bin, head of the China Tourism Academy, said China's outbound tourism market is expected to see a sustained recovery this year thanks to the optimized COVID-19 protocol.中国旅游研究院院长戴斌表示，得益于疫情优化政策，今年中国出境游市场有望持续复苏。According to data from online travel agency Ctrip.com, the realtime search volume for outbound tour products on its platform surged five times when the new policy was announced on Jan 20.根据在线旅行社携程网的数据，自1月20日新政策宣布以来，其平台出境游产品的实时搜索量激增了5倍。Travel portal Tuniu said the number of bookings made from Feb 6 to 12 for overseas trips is estimated to double that of last week.旅游门户网站途牛表示，2月6日至12日的海外旅行预订量预计可达上周的两倍。Many domestic airlines including Spring Airlines and China Southern Airlines also reported a high occupancy rate in international flights and plan to add more flights to meet the growing demands for outbound travel.包括春秋航空和中国南方航空在内的许多国内航空公司也报告说，国际航班的上坐率很高，为了满足日益增长的出境游需求，将计划增加更多航班。China had remained the largest outbound tourism market worldwide for several years before the pandemic hit. In 2019, Chinese tourists made 155 million overseas trips, with consumption abroad worth $133.8 billion.疫情前的几年里，中国一直是全球最大的出境游市场。2019年，中国游客出境旅游1.55亿人次，境外消费1338亿美元。Paul Pruangkarn, chief of staff at the Pacific Asia Travel Association, said Chinese tourists are an essential part of global tourism.亚太旅游协会会长Paul Pruangkarn表示，中国游客是全球旅游业的重要组成部分。The resumption of China's outbound travel is injecting strong impetus into tourism in the Asia-Pacific region and into the recovery of the global economy, he said.他说，中国出境游的恢复为亚太地区旅游业和全球经济复苏注入了强劲动力。Destination countries such as Thailand, Singapore and Cambodia have extended warm hospitality to first arrivals from China.泰国、新加坡和柬埔寨等目的地国家热情接待了第一批来自中国的游客。"We are extremely delighted to receive these first tour groups today, and look forward to more Chinese tourists coming back to Thailand," Yuthasak Supasorn, governor of the Tourism Authority of Thailand, said at a welcoming ceremony held in Bangkok on Monday.2月6日，泰国旅游局局长Yuthasak Supasor在曼谷举行的欢迎仪式上说:“我们非常高兴今天接待了第一批旅游团，期待更多的中国游客来到泰国。”TAT predicted that Thailand will receive 7 million tourists from China this year, roughly 63 percent of the pre-epidemic level in 2019.泰国国家旅游局预测，今年泰国将接待700万中国游客，约为2019年疫情前的63%。However, outbound tourism is still at the preliminary stage of recovery, said Sun Guizhen, secretary-general of the China Association of Travel Services, adding that major constraints include the limited number of international flights, high costs and inadequate hoteliers.然而，中国旅行社协会秘书长孙桂珍表示，出境旅游仍处于恢复的初步阶段，主要制约因素包括国际航班数量有限、成本高、和酒店经营者不足。Industry insiders said that it requires the joint efforts of regulators, business entities, employees and tourists to achieve a full recovery. Some travel service providers therefore are re-collecting resources and conducting training to remedy the industrial chain.业内人士表示，要实现全面复苏，需要监管部门、企业、员工和游客的共同努力。因此，一些旅游服务提供商为了修复产业链，正在重新收集资源并开展培训。So far, Ctrip.com has launched nearly 1,200 outbound tour packages. Tuniu offered 400 overseas trip products on its platform, most of which are for small-scale tour groups.截至目前，携程网已经推出了近1200个出境旅游套餐。途牛在其平台上提供了400种海外游产品，其中大多数是针对小规模旅游团的。The outbound travel market is set to see a more apparent boom during this year's May Day holiday, experts predicted.专家预测，今年“五一”假期期间，出境游市场将更加繁荣。outbound英 [ˈaʊtbaʊnd] 美 [ˈaʊtbaʊnd]adj.向外的 Inadequate英 [ɪnˈædɪkwət] 美 [ɪnˈædɪkwət]adj.不充分的
英语新闻｜出入境政策优化，国际机票搜索量增长850%！The search volume of international flight tickets is surging in China after the country announced to downgrade the management of COVID-19 from Jan 8, the news website chinanews.com reported on Tuesday.根据中国新闻网12月28日报道，随着1月8日起出入境相关防控措施的进一步优化，国际机票搜索量迎来翻倍提升。According to the online travel agency Qunar, the international flight ticket search volume increased sevenfold within 15 minutes after the new COVID-19 management measures were announced, and the hot destinations are Thailand, Japan, and South Korea.去哪儿数据显示，政策调整消息发布后15分钟内，国际机票搜索量增长了7倍，热门目的地为泰国、日本和韩国。Data from another online travel platform Ctrip showed that the search volume to popular overseas destinations increased tenfold year-on-year compared with the same period of last year within 30 minutes after the information was announced. Moreover, the search volume of outbound flight tickets and hotels reached a three-year high.政策调整消息发布后30分钟内，携程平台热门海外目的地搜索量同比大涨10倍，出境(包含中国港澳台)机票搜索均达到3年来峰值。Some hot tourism destinations' search volume saw rapid growth for the upcoming Spring Festival holiday, which falls on Jan 21 to 27 next year. The top 10 hot destinations are Macao, Hong Kong, Japan, Thailand, South Korea, the US, Singapore, Malaysia, Australia, and the UK, according to Ctrip. 一些热门旅游目的地的搜索量将在即将到来的春节假期（1月21日至1月27日）快速增长。携程的数据显示，前十大热门目的地是澳门、香港、日本、泰国、韩国、美国、新加坡、马来西亚、澳大利亚和英国。The tourism service provider ly.com said the search volume of international flight tickets jumped 850 percent, and the visa service search volume grew tenfold after the information was announced. Japan, South Korea, and Thailand are the top 3 overseas destinations to Chinese tourists. The hot outbound flight destinations are Bangkok, Tokyo, Seoul, Los Angeles and Singapore.同程平台数据显示，政策调整消息发布后，该平台国际机票瞬时搜索量增长850%；签证搜索量瞬时增长10倍。中国游客最关注的海外目的地排名前三为日本、韩国、泰国。搜索量最高的出境航班热门目的地主要有曼谷、东京、首尔、洛杉矶和新加坡。The search users to outbound tourism are mainly from Beijing, Shanghai and Guangzhou, said ly.com.同程平台数据显示，出境游主要搜索用户来自北京、上海、广州。The Chinese mainland customers' average spending to outbound flight tickets and high-end hotels increased by 64 percent and 40 percent during nearly half a year, compared with the same period before the COVID-19 epidemic, said Ctrip.携程数据显示，近半年来内地出境的机票及高端酒店人均花费，较疫情前分别增长了64%和40%。With tourism supply-side recovery, and inflation control in major economies, the overall price of international flight tickets and outbound hotels is expected to fall back; however, due to the supply-side facilities, and manpower recovery still exists short-term constraints, the price needs time to fall, said the chinanews.com, citing Fang Zeqian, an industry analyst at Trip.com Group.携程研究院行业分析师方泽茜认为，随着旅游供给侧的恢复，以及全球主要经济体对通胀水平的控制，出境游整体机酒价格有望回落至疫情前水平；但因供给侧设施、人力的恢复仍存在短期约束，因此价格的回落依然需要一些时间。As the new COVID-19 management measures implementing, and the airline operating capacity recovering, the summer vacation of 2023 may usher in the peak of entry and exit, said chinanews.com, citing Lan Xiang, director of Qunar's data research department.去哪儿大数据研究院院长兰翔分析称，随着政策落地和航司运营能力的恢复，2023年暑期或将迎来出入境高峰。Moreover, visa service still has constraints in short-time, said the Ctrip. Although most of the overseas countries have opened their visa applications, due to staff shortages in many embassies and consulates in China, visa applications will be delayed.签证方面的“供给侧”短期内还存在一定的限制。携程签证相关人士表示，绝大多数海外国家已开放签证办理，但因国内疫情多家领馆人员不足导致办签延迟。Outbound英 [ˈaʊtbaʊnd] 美 [ˈaʊtbaʊnd]adj. 出港的Manpower英 [ˈmænpaʊə(r)] 美 [ˈmænpaʊər]n. 人力Consulate英 [ˈkɒnsjələt] 美 [ˈkɑːnsələt]n. 领事馆
Join in as Cindy Moehring talks with Wilson Pang about designing responsible AI systems from conception to deployment in a world where technology moves incredibly fast. With an expansive background at CTrip, eBay, and IBM, Pang is now the Chief Technology Officer at Appen, a leading technology platform that powers other companies with AI globally. Wilson is also the co-author of Real World AI, with Alyssa Simpson Rochwerger. Learn more about the Business Integrity Leadership Initiative by visiting our website at https://walton.uark.edu/business-integrity/ (https://walton.uark.edu/business-integrity/) Links from episode: Real World AI: https://appen.com/real-world-ai/ (https://appen.com/real-world-ai/) Alyssa Simpson Rochwerger podcast episode on TheBIS: https://walton.uark.edu/business-integrity/blog/product-management-and-tech-ethics-with-alyssa-simpson-rochwerger.php (https://walton.uark.edu/business-integrity/blog/product-management-and-tech-ethics-with-alyssa-simpson-rochwerger.php ) Google AI Principles Blog: https://ai.google/principles/ (https://ai.google/principles/) Resourceful AI Resources | Microsoft Blog: https://www.microsoft.com/en-us/ai/responsible-ai-resources (https://www.microsoft.com/en-us/ai/responsible-ai-resources ) Facebook Five Pillars of Responsible AI: https://ai.facebook.com/blog/facebooks-five-pillars-of-responsible-ai/ (https://ai.facebook.com/blog/facebooks-five-pillars-of-responsible-ai/)
Kathy Xu is the Founding Partner of Capital Today, a $2.5 billion firm that is one of the top venture capitalists in China. Capital Today strives to help small and mid-sized companies become the leading brands in China. Over the years, some of their winners include JD.com, Mei Tuan, VIP Shop, and Ctrip. Our conversation covers Kathy's upbringing in China, early professional career in venture, and start as an entrepreneur. We discuss her vision for Capital Today, the three ways they help entrepreneurs, sourcing ideas, working with companies, attractive investments, benefits of the firm's evergreen fund structure, impact of government action on companies, and desirable characteristics in founders and industries. Lastly, we touch on competition in the venture landscape in China. Learn More Follow Ted on Twitter at @tseides or LinkedIn Subscribe to the mailing list Access Transcript with Premium Membership
TechBuzz China is back from China! We are happy to say that the week of back-to-back meetings we had in our first-ever Investor Trip was a great success. We were able to visit a host of companies we've previously covered on the podcast, like Ximalaya, Xiaohongshu, Ruhan, Xiaomi, China Renaissance, Tiger Brokers, and more, as well as new ones such as Ctrip, Mogujie, Qutoutiao, and Bilibili, which we hope to talk about in more detail soon. Thank you to everyone who hosted us, and a special thanks to all of our listeners who came out for our happy hours!Episode 54 of TechBuzz China is about the rise of the influencer and idol economies in China, which is a major trend that has created an entirely new ecosystem online. Indeed, one-third of China's total retail sales are taking place online, and its ecommerce platforms are some of the most innovative and advanced in the world. Listen to learn about phenomena such as live-streaming ecommerce (直播电商), multi-channel networks (MCNs), the role of celebrities, and the lengths to which fans in China will go to in order to keep their idols on top. How are these factors influencing the way large Chinese internet companies operate? You can find these stories and more at pandaily.com. If you enjoy our content, please do let us know by leaving us an iTunes review, liking our Facebook page, and tweeting at us! We do truly appreciate your feedback and support. Thank you also to our listeners over at our partner, dealstreetasia.com.We are grateful for our ever-talented producers, Shaw Wan and Kaiser Kuo, and for our intern, Wang Menglu.
In this episode, GGV Capital's Hans Tung and Rita Yang interviewed Renee Wang (王小雨), the founder and CEO of CastBox, a global podcast platform often referred to as the "Netflix for podcasting". It uses natural language processing and machine learning to power unique features like personalized recommendations and in-audio search. According to a report from Sensor tower in April 2019, Castbox is now the biggest 3rd-party pure-play podcast app. Before launching CastBox in 2016, Renee worked for Google in China, Japan, and Ireland. She holds a bachelor's degree in Peking University in psychology and mathematical statistics. While in college, she taught herself coding and became one of the earliest Android developers in China. On the show, Renee discussed user acquisition in international markets with a cross-cultural team, integrating Chinese social app features into its global podcasting platform, the landscape of consumer-facing audio apps in China and her strategic decision for not entering the Chinese market. She also shared her journey of landing a job at Google without speaking a word of English, selling her apartment in Beijing to fund her startup and leading a diverse team spread across the US and China. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or “GGVCapital” on WeChat.
Recorded 30th June 2019 This week the iOS 13 and Catalina Public Betas launched - Simon (of course) ignored good sense and went headlong into them, consequences be damned and it promptly bit him in the arse! Apple bought a self driving car company on the edge of collapse we wonder what that may mean? They also hired a top ARM chip architect - some are saying this means ARM Macs sooner rather than later. Nick and Donny are not convinced, and nor is Simon. Of course we have to take a look at Sir Jony announcing his departure from Apple and we discuss what we think about that too! GIVEAWAYS & OFFERS Listeners of this show can claim $10 off purchases of Luminar and/or Aurora HD 2019 use the coupon code EssentialApple at checkout for your extra discount! Get Donny Yankellow's 2FunDads iMessage stickers for FREE Donny's drawing app offer Buy the app now at the 2 category price and 1/3 off! When the third category is added the price will go up! App Store Why not come and join the Slack community? You can now just click on this Slackroom Link to sign up and join in the chatter! Slacker @MacJim has started up a family friendly Flikr group for listeners to share photos because the Darkroom channel in the Slack has become so popular - if you're interested head over to the Essential Apple Flikr and request an invitation. On this week's show: NICK RILEY @spligosh on Twitter very occasionally. Sometimes appears on Bart Busschots' Let's Talk Apple DONNY YANKELLOW @rtteachr on Twitter Find his work at hedgehogalley.com Find his stuff in iBooks, a load of sticker packs in the App Store under Donny Yankellow and DesignBundles.net as Skrbly Skrbly Studio on YouTube New store on 2FunDads.com 2FunDads FREE iOS stickers Skrbly Store Skrbly Studio (Anyone can Draw) – App Store APPLE Apple buys self-driving startup Drive.ai just days before it would have died – The Verge Apple Hires ARM's Lead CPU Architect Amid Rumors of ARM-Based Macs as Early as 2020 – MacRumors iPhone designer Ive to leave Apple – BBC News Apple Press Release – Apple Jony Ive had been stepping back from Apple responsibilities for four years – 9to5 Mac Original Bloomberg article – Bloomberg TECHNOLOGY Microsoft Issues Warning For 800M Windows 10 Users — Forbes Lightyear One | The electric car that charges itself with sunlight – Lightyear Very nice if you have €149K or more to spend... Raspberry Pi 4 Model B – Raspberry Pi SECURITY & PRIVACY Google's new curriculum teaches kids how to detect disinformation – Engadget WORTH A CHIRP / ESSENTIAL TIPS Luminar 3 Photo Editor for Mac and PC hits all-time low at $41.50 (Reg. $70): Use promo code TOYS15 during checkout – 9to5 Toys TrainPal – Cheap Train Tickets by Ctrip.com international – App Store ProtonVPN review: a brilliant VPN with no data caps – Wired JUST A SNIPPET For things that are not worth more than a flypast Synology launches DS419Slim miniature NAS – DPReview Nemo's Hardware Store (1:15:36) Nemo Special Interview on electric cars Essential Apple Recommended Services: Ghostery - protect yourself from trackers, scripts and ads while browsing. 33mail.com – Never give out your real email address online again. Sudo – Get up to 9 “avatars” with email addresses, phone numbers and more to mask your online identity. Free for the first year and priced from $0.99 US / £2.50 UK per month thereafter... ProtonMail – End to end encrypted, open source, based in Switzerland. Prices start from FREE... what more can you ask? ProtonVPN – a VPN to go with it perhaps? Prices also starting from nothing! Fake Name Generator – So much more than names! Create whole identities (for free) with all the information you could ever need. Wire – Free for personal use, open source and end to end encryted messenger and VoIP. Pinecast – a fabulous podcast hosting service with costs that start from nothing. Essential Apple is not affiliated with or paid to promote any of these services... We recommend services that we use ourselves and feel are either unique or outstanding in their field, or in some cases are just the best value for money in our opinion. Social Media and Slack You can follow us on: Twitter / Slack / EssentialApple.com / Spotify / Soundcloud / YouTube / Facebook / Pinecast Also a big SHOUT OUT to the members of the Slack room without whom we wouldn't have half the stories we actually do – we thank you all for your contributions and engagement. You can always help us out with a few pennies by using our Amazon Affiliate Link so we get a tiny kickback on anything you buy after using it. If you really like the show that much and would like to make a regular donation then please consider joining our Patreon or using the Pinecast Tips Jar (which accepts one off or regular donations) And a HUGE thank you to the patrons who already do. Support The Essential Apple Podcast by contributing to their Tip Jar: https://tips.pinecast.com/jar/essential-apple-show This podcast is powered by Pinecast.
On this episode, we interviewed Brian Gu (顾宏地), the vice chairman and president of XPENG Motors, also known as Xiaopeng Motors, a Chinese electric vehicle company and a GGV portfolio company. The company designs and manufactures what it calls "Internet cars" which has AI technology integrated into the vehicles. Prior to joining XPENG Motors in March 2018, Brian was the Chairman of Asia Pacific Investment Banking at J.P. Morgan. He holds an MBA from Yale University, a Ph.D. in Biochemistry from the University of Washington Medical School and a bachelor's degree in Chemistry from the University of Oregon. At XPENG, Brian leads the company's global strategy, finance, fundraising, investments and international partnerships. Brian discussed his journey from an investment banker to a tech company executive, why China's EV market excites him, and how XPENG differentiates itself from its competitors. This episode also features a bonus interview with GGV Managing Partner, Jixun Foo, on why we invested in XPENG Motors. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at http://ggvc.com/, or "GGVCapital" on WeChat.
On a special "AMA" (Ask Me Anything) episode, GGV Managing Partner Hans Tung answers questions posed by our listeners on a wide range of topics. How did Hans break into the VC world? What made he move to China and then come back to Silicon Valley afterwards? How does he deal with failures as an investor? What does it take for non-Chinese entrepreneurs to succeed in China? What motivates him to wake up and work hard every day? Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or "GGVCapital" on WeChat.
We interviewed Hao Wu, a Chinese American film director, producer and writer to discuss his recent work "People's Republic of Desire", a documentary about the live streaming industry in China. Originally trained as a molecular biologist, Hao worked in tech before becoming a full-time filmmaker. He held various management positions at technology companies including Excite@Home, Yahoo China and Alibaba. From 2008-2011, he was the China Country Manager for TripAdvisor. As his career progressed, so did his passion in more artistic and creative endeavors. In 2012 he decided to pursue documentary filmmaking full time. His latest work, which is the subject of this episode, is a documentary called "People's Republic of Desire", a journey into the live streaming industry in China, where Hao follows a few top streamers on YY to document their lives behind the screen. The film has won the Grand Jury Award at the 2018 South By South West, among many other awards, and has screened at over 40 film festivals worldwide. The New York Times calls the film "hypercharged," while The Los Angeles Times says it's "invariably surprising and never less than compelling." If you haven't watched the film, we highly recommend doing so. It is available on Vimeo, iTunes, Amazon and Google Play; just visit desire.film for the links. Hao has produced two other documentaries, The Road to Fame, and Nowhere to Call Home. Hao holds a bachelor's degree in biology from the University of Science and Technology of China, a master's degree in molecular and cell biology from Brandeis University, and an MBA from the University of Michigan's Ross School of Business. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or "GGVCapital" on WeChat.
GGV Capital's Hans Tung and Zara Zhang interview Tao Peng (彭韬), the president of Airbnb China. Prior to joining Airbnb in Sept 2018, Tao has founded a number of companies in the travel space including Breadtrip, a social app for recording and sharing trips, and more recently, CityHome, a management platform for short-terms rentals across China. Before founding Breadtrip, Tao has worked at the network security provider IntelliGuard and has also worked for McKinsey for two years as a management consultant. Tao graduated from the University of Melbourne with Ph.D degree in computer networks and the Huazhong University of Science and Technology with a bachelor's degree in communication engineering. He is also an avid traveler and has been to over 50 countries across seven continents. Earlier on the 996 Podcast, we have interviewed Nathan Blecharczyk, Airbnb's co-founder and chief strategy officer as well as the chairman of Airbnb China. If you haven't listened to that episode, we highly recommend checking it out; it was released around exactly a year ago on April 11th, 2018. Airbnb is a GGV portfolio company and our managing partners Hans Tung and Glenn Solomon actively works with the company especially with regards to its China strategy. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or “GGVCapital” on WeChat.
GGV Capital's Hans Tung and Zara Zhang interview Jane Sun (孙洁), the CEO of Ctrip, the largest online travel platform in China which is listed on the NASDAQ. It's current market cap (at time of recording) is around $23 billion. Jane has been at Ctrip for 13 years. Prior to becoming CEO in Nov 2016, Jane served as COO of Ctrip for four years and CFO for seven years. Before joining Ctrip, Jane worked at Applied Materials in the US as the head of SEC and External Reporting Division. Prior to that, she worked with KPMG as an audit manager in Silicon Valley for five years. Jane received her bachelor's degree from the business school of the University of Florida, and LLM degree from the Peking University Law School. Jane discussed her journey from studying abroad in the US to one of the one of the top female leaders in Chinese tech, her daily routine as the CEO of a New York-listed Chinese tech company, and her advice for young people with cross-cultural backgrounds. This episode also features a bonus interview with GGV managing partner Jixun Foo, who led the firm's investment in the online travel search company Qunar, which merged with Ctrip in 2015. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or “GGVCapital” on WeChat.
GGV Capital's Hans Tung and Zara Zhang interview two “GGV Fellows,” David Sun (a data scientist on Apple's Siri team) and Bo Ning Han (a recent Harvard grad working on a startup in Beijing), on their life stories and their takeaways from the GGV Fellows program. What is the GGV Fellows program? Read this blog post to find out more: https://hans.vc/why-we-organized-ggv-fellows/ If you are interested in applying to future batches of GGV Fellows or our other events, please join our listeners' community via WeChat/Slack at 996.ggvc.com/community, where all related announcements will be posted. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or “GGVCapital” on WeChat.
GGV Capital's Hans Tung and Zara Zhang discuss the opportunities and challenges faced by Chinese overseas returnees (“sea turtles”, or 海归) who are interested in working in China's tech industry. These are people who were born and raised in China, completed their high education outside of China or have worked overseas, and then have returned to China for opportunities. There has been a growing number of sea turtles in recent year as China's tech economy boomed and the US immigration policies became less friendly to foreign talent. We addressed questions including: What are the common pitfalls that sea turtle entrepreneurs run into? In an age where the premium of an overseas education is arguably declining in China, how can sea turtles make the most of their global experience? For aspiring sea turtle entrepreneurs, which verticals should they spend time on? If you're an aspiring or current Chinese overseas returnee, we have a special resource for you: we recently compiled a list of 10 Chinese books on tech & entrepreneurship in China that we recommend all sea turtles read before going back to China. These include books on China's tech giants Tencent, Alibaba, JD, and Meituan, books on practical aspects of running a startup in China such as growth and marketing, as well as books on general Chinese business history. To read the book list, please follow GGV's WeChat official account by searching "GGVCapital" in WeChat, and then message the word "sea turtle" to that account. We also have a lucky draw for you: If you comment on that article with your story of coming back to China as a sea turtle before April 10th, you can enter a lottery to win a bundle of these 10 books, which will be mailed to you. We look forward to hearing your story. And, here's a list of news outlets and resources that can help you stay in touch with what's going on in tech in China: https://zarazhang.com/2018/03/25/how-to-keep-up-with-whats-happening-china/ Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or “GGVCapital” on WeChat.
GGV Capital's Hans Tung and Zara Zhang interview Wang Yu (王宇), the co-founder and CEO of Tantan (探探), China's leading dating app. Tantan is social app that help young people in China connect with one another. It has a slide-left slide-right interface. Only when two users both slide right on each other can they start a conversation. The company was founded in 2014 and has helped users make over 10 billion matches to date. In 2018, Tantan was acquired by Momo (陌陌) for $735 million. Momo is a top location-based social networking platform in China that help people meet strangers around them. It is also one of the leading live streaming platforms in China. It is a public company on the NASDAQ and its current market cap is around $6.8 billion. Wang Yu was born in Beijing and grew up in Sweden. He holds two master's degrees, one on computer science and one in industrial economics. In 2007, he moved back to China and started his first business P1, a fashion community, before founding Tantan in 2014. During this episode, Yu discussed how the failure of his first startup P1 proved crucial to the success of Tantan, why flawless execution is more important than flawless product in China, whether any social apps in China will be able to challenge WeChat, and the advantages and disadvantages of being an overseas Chinese returnee entrepreneur. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or “GGVCapital” on WeChat.
Join GGV 996's anniversary party in San Francisco on Friday, March 8! The event will take the form of a Trivia Night on Chinese tech. Come test your knowledge of China's tech industry, compete to win prizes, and enjoy a great night with friends. RSVP at 996.ggvc.com/sf. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital's Hans Tung and Zara Zhang interview Simon Zhang, (张溪梦), the founder and CEO of GrowingIO, a data analytics startup in China that helps product managers and marketers analyze mobile apps and websites without adding manual tracking codes. GrowingIO now counts over 6000 companies as its customers, including the likes of Didi, Momo, Tujia, and others. Previously, Simon was senior director of business analytics at LinkedIn in its Silicon Valley headquarters, and before that, worked as a senior manager of site analytics at eBay. In 2015, he left a decade-long career in Silicon Valley to return to China and started his current startup, GrowingIO. But prior to all of this, Simon worked as a brain surgeon in China, and attended medical school in Tianjin. He also obtained an MBA from Baldwin-Wallace College in Ohio. Simon is also the author of the Chinese book 《首席增长官》 (“Chief Growth Officer”) and is a thought leader in the field of data-driven growth in China. Simon discussed how Chinese engineers in Silicon Valley can crack the “bamboo ceiling”, how Chinese-style growth differs from Silicon Valley-style growth, and why “raising too much money” could create challenges for a startup. The 996 Podcast is brought to you by GGV Capital, a global venture capital firm that invests in local founders. As a multi-stage, sector-focused firm, GGV focuses on seed-to-growth stage investments across Consumer/New Retail, Social/Digital & Internet, Enterprise/Cloud and Frontier Tech sectors. The firm was founded in 2000 and manages $6.2 billion in capital across 13 funds. Past and present portfolio companies include Affirm, Airbnb, Alibaba, Bitsight, ByteDance, Ctrip, Didi Chuxing, Grab, Gladly, Hello Chuxing, HashiCorp, Houzz, Keep, LingoChamp, Namely, Niu, Nozomi Networks, Opendoor, Peloton, Poshmark, Slack, Square, Wish, Xauto, Xiaohongshu, Yellow, YY, Zhaoyou and more. The firm has offices in Beijing, San Francisco, Shanghai and Silicon Valley. Learn more at ggvc.com, or “GGVCapital” on WeChat.
Trading Block: A look back at the week in options trading Goodbye backwardation! Earnings Highlights for the Week Monday - Sysco, Mylan, Marriott Tuesday - Eli Lilly, CVS Health, Gogo, Etsy, Match, Papa John's Wednesday - Groupon, Roku, Square Thursday - Dropbox, Walt Disney Equities: Growth in US corporate earnings expectations remains strong. Odd Block: TSLA put summary, calls trading in Ctrip.com Internation Ltd (CTRP), and call love in Cornerstone OnDemand, Inc. (CSOD) Mail Block: Option block flash poll All of these downgrades are crushing AAPL. It's back below $1T. Heresy! Are you part of the AAPL faithful or do you have your bear claws out? Quite simply - do you think AAPL will be above $200 one year from now? 72% - Yes: $Above $200 15% - No: Below $200 13% - I'm sick of $AAPL Options question of the week - We always like to take the pulse of our audience. This week we're checking in on your favorite strategies. What is your go-to #options strategy? Butterflies Covered Call/Short Put Verticals, call or put Calendars/Diagonals Listener questions and comments: Question from NVD2 - Are we now out of the danger zone? Where does the danger zone officially start? Question from Helio - Uncle Mike back in full bull mode? What's his biggest holding? Question from Ilya - Why is iron condor the iron fly for cowards? Don't get it. Question from Mark Brant - Sold SNAP 45d ATM Puts when it had the highest ATM IV of any stock! ATM IB is the one to watch for premium selling IMO. Around the Block/This Week in the Markets: Nov 9: PPI, Consumer Sentiment
GGV Capital's Hans Tung and Zara Zhang interview David Li (李学凌), the founder and CEO of YY, one of the first live streaming platforms in China. YY went public on the NASDAQ in 2012 and is now a multi-billion dollar company. YY also owns Huya, the leading game streaming platform in China which went public on the NYSE this May. David is also the co-founder and CEO of the Singapore-based BIGO, which is the leading live streaming platform in Southeast Asia. Before founding YY in 2005, David served as the editor in chief at NetEase. David received a bachelor's degree in philosophy from Renmin University of China in 1997. GGV is lucky to count YY as a portfolio company, and our managing partner Jenny Lee was on the board of YY for seven years. David discussed his evolution from a philosophy major to a journalist to an Internet entrepreneur, what it's like to take a Chinese company public in 2012, and how YY came to spearhead innovative features of modern live-streaming products such as in-app tipping and virtual gifts. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called “996,” which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $6.2 billion in capital under management across 13 funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
GGV Capital's Hans Tung and Zara Zhang interview Toby Sun, the co-founder of Lime, a GGV portfolio company that's disrupting last-mile transportation in the US. A few months ago, we had Brad Bao, the other co-founder, on the show, back when the company was still called "LimeBike." At that time, Lime's operation was still pedal bikes only. A lot has changed since then. In a short span of a few months, LimeBike has expanded into 20 markets in four countries, changed its name to “Lime”, added other transportation modes including e-bikes and e-scooters to its services, and announced a $335 million funding round led by GV with participation from Uber, which will become Lime's strategic partner in the electric scooter space. Lime is currently working with Uber to co-brand its scooters and make them available in the Uber app. In the episode, we discussed why scooters have a future in the US, how Lime envisions its partnership with Uber, and whether Lime sees itself as a “super app” going forward. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. You can view the full transcript of this episode at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 290 companies, with 46 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com. We also recommend checking out our sister podcast, Founder Real Talk. It is a biweekly show that discusses challenges that founders and executives face and how they grow by dealing with them. The show is hosted by Glenn Solomon, managing partner at GGV Capital.
GGV Capital's Hans Tung and Zara Zhang interview Jixun Foo (符绩勋), who is a Managing Partner at GGV Capital based in China. Jixun joined GGV in 2006 and has more than 20 years of experience in venture capital investing. He focuses on travel and transportation, social media and commerce as well as enterprise services in China. Jixun has led GGV's investments in Qunar (去哪儿), Grab, Didi (滴滴出行), Youku-Tudou (优酷土豆), UCWeb, Mogujie-Meilishuo (美丽联合集团), MediaV, Full-Truck Alliance (formerly Yunmanman) (满帮集团), Meicai (美菜), and currently serves on the boards of XPeng (小鹏汽车), Hellobike (哈罗单车), Tujia (途家), Xiangwushuo (享物说), Zuiyou (最右) and Kujiale (酷家乐). Jixun played a critical role in many key strategic mergers and acquisitions, such as those of Youku-Tudou, Baidu/Qunar, Ctrip/Qunar, and Mogujie/Meilishuo. Jixun has been recognized by Forbes China as one of the “Best Venture Capitalists” every year since 2006, and frequently appears on the Forbes Midas list. Before GGV, Jixun was a Director at Draper Fisher Jurvetson ePlanet Ventures, where he led the firm's investment in Baidu. Prior to DFJ ePlanet, Jixun led the Investment Group under the Finance & Investment Division of the National Science & Technology Board of Singapore (NSTB) and has also worked in the R&D division of Hewlett Packard. Jixun is from Singapore and graduated from the National University of Singapore with a First-Class Honors degree in Engineering, as well as a Master's in Management of Technology from the university's Graduate School of Business. In this episode, Jixun discusses how he started his career in venture capital, the insider story behind the merger between Youku and Tudou (the largest merger in Chinese tech history at the time), why he invested in the bike-sharing company HelloBike (which overtook Mobike and Ofo to become the top player in the country), and what sectors excite him today. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. You can view the full transcript of this episode at 996.ggvc.com. We are excited to announce a new program, "GGV Fellows", designed to help "sea turtles" or (海归) and Chinese students studying overseas to get to know the Chinese entrepreneurial landscape better. If you're a Chinese student/professional who is studying/working overseas (or have done so in the past), this is a program designed for you! It's a weeklong program in Jan 2019 in Beijing (during most US college's winter break). You will be able to learn from executives at some of China's most valuable tech companies, and visit some of their offices. You will also participate in mixers with students at top Chinese universities like Tsinghua and Beida to build a local network. Please visit fellows.ggvc.com for the application link and for more information. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
GGV Capital's Hans Tung and Zara Zhang interview Grant Horsfield (高天成), a South African serial entrepreneur who came to China in 2005 and founded naked Group, which includes the coworking space naked Hub (裸心社) and the luxury resort brand naked Retreat (裸心谷). In 2007, Grant and his wife, Delphine Yip-Horsfield, opened the first naked resort – naked Home – in Moganshan (莫干山), a beautiful mountain 30-minute drive from Hangzhou. Following its success, Grant continued to expand the naked resort business into other high-end, eco-friendly resorts which prioritize sustainability development In 2016, Grant and Delphine launched the coworking space naked Hub, which seeks to combine hospitality, design, technology, and community. Naked Hub offers several services, include open office, private office, and hot desks. It now has 10,000 members across 24 office locations both in Shanghai and Beijing. It has expanded into Australia, Hong Kong, and Vietnam. In April 2018, Naked Hub and WeWork announced that they would join forces to support business in China and throughout Asia. In this episode, Grant explained why he moved to China from rural South Africa, how he earned the trust of local Chinese farmers in Moganshan, and what differentiates naked Hub from other coworking spaces. The full transcript of this episode is available at 996.ggvc.com. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called “996,” which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. We are excited to announce a new program, "GGV Fellows", designed to help "sea turtles" or (海归) and Chinese students studying overseas to get to know the Chinese entrepreneurial landscape better. If you're a Chinese student/professional who is studying/working overseas (or have done so in the past), this is a program designed for you! It's a weeklong program in Jan 2019 in Beijing (during most US college's winter break). You will be able to learn from executives at some of China's most valuable tech companies, and visit some of their offices. You will also participate in mixers with students at top Chinese universities like Tsinghua and Beida to build a local network. Please visit fellows.ggvc.com for the application link and for more information. GGV Capital is a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the last 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in Consumer/New Retail, Social/Internet, Enterprise/Cloud and Frontier Tech. GGV has invested in over 290 companies with more than 45 companies valued at more than $1 billion. Portfolio companies include Airbnb, Alibaba, Ctrip, Didi, Grab, Hellobike, HashiCorp, Houzz, Keep, Opendoor, Peloton, Slack, Square, ByteDance (Toutiao), Wish, Xiaomi, Xiaohongshu, and YY. Find out more at ggvc.com.
GGV Capital's Hans Tung and Zara Zhang interviewed Zilin Chen, founder and CEO of BingoBox, China's first scalable 24-hour cashier-free convenience store and a GGV portfolio company. BingoBox features a smart counter for a staffless check-out experience, and uses RFID and computer vision to keep track of items. Users scan a QR code to enter the store, and pay via Alipay or WeChat Pay. BingoBox is a pioneer in a phenomenon known as "new retail" in China, commonly understood as using technology to transform offline retail. BingoBox was launched to public in August 2016 and now has over 300 boxes in almost 30 cities in China. GGV led BingoBox's series A investment in July 2017. The company raised another $80 million in series B this January, which GGV also participated in. Zilin discussed how the idea for BingoBox came about, how BingoBox differs from Amazon Go, and the technology and unit economics behind the stores. The episode also features a bonus interview with Eric Xu, GGV Capital's managing partner based in China, who led our investment in BingoBox. Eric discussed the meaning of "new retail" and what made him want to invest in BingoBox. The full transcript of this episode is available at 996.ggvc.com/2018/08/15/episode-18-zilin-chen-of-bingobox-on-the-future-of-new-retail-in-china/. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called “996,” which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 290 companies, with more than 45 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com. Listen to past episodes of our sister podcast, Founder Real Talk. It is a biweekly show that discusses challenges that founders and executives face and how they grow by dealing with them. The show is hosted by Glenn Solomon, managing partner at GGV Capital.
GGV Capital's Hans Tung and Zara Zhang have a conversation about Xiaomi's IPO, which took place in Hong Kong on July 9. Hans is one of the early investors in Xiaomi and a former company board member of the company. Hans recounts the original pitch that Xiaomi's founder Lei Jun gave him back in 2010, and what made him want to invest in a seemingly “crazy” idea. We also touched on frequently-asked questions like: Why can Xiaomi be thought of as an “Internet company” instead of a hardware company? Why should people stop comparing Xiaomi to Apple? Was Xiaomi's IPO valuation justified? What does the “Xiaomi ecosystem” mean? Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called “996,” which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. We also recommend checking out GGV Capital's sister podcast, Founder Real Talk. It is a biweekly show that discusses challenges that founders and executives face and how they grow by dealing with them. The show is hosted by Glenn Solomon, managing partner at GGV Capital. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
GGV Capital's Hans Tung and Zara Zhang interview serial entrepreneur Justin Kan. In 2007, he co-founded Justin.TV, a website that allowed anyone to broadcast video online. In 2011, Justin.tv spinned off its gaming division as Twitch, which went on to become the leading live streaming platform for video games in the US. Twitch was acquired by Amazon in 2014 for almost a billion dollars. More recently, Justin co-founded Atrium LTS—the “LTS” stands for “Legal Technology Services” - a startup that's building technology to revolutionize the legal industry. GGV is an investor in Atrium. Justin is a true startup veteran—in addition to starting multiple companies of his own, he has worked with hundreds of startups as a partner at Y Combinator, and has also personally angel invested in over 65 companies. Justin grew up in Seattle as a second-generation Chinese American, and graduated from Yale in 2005 with degrees in physics and philosophy. In this episode, Justin recounted the story of how he started to live streaming his life before streaming became cool, the pitfalls he has gone through during his startup journey, whether it was the right decision to sell Twitch to Amazon in 2014, and what gets him excited about his new venture Atrium. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called “996,” which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com. Tweets: "I always thought that 'management' was a dirty word. But we could have been much more effective if we had implemented actual management in the early days." - @JustinKan of @Twitch on the 996 Podcast with @hanstung & @zarazhangrui https://itunes.apple.com/us/podcast/996-podcast-with-ggv-capital/id1336107529?mt=2 "I think we [the US] take immigration of skilled labor for granted. We should be trying to get every single engineer from around the world to live here, to stay here." - @JustinKan of @Twitch on the 996 Podcast with @hanstung & @zarazhangrui https://itunes.apple.com/us/podcast/996-podcast-with-ggv-capital/id1336107529?mt=2 @GGVCapital "The most common mistake I see in founders is that they are not focused enough." - @JustinKan of @Twitch on the 996 Podcast with @hanstung & @zarazhangrui https://itunes.apple.com/us/podcast/996-podcast-with-ggv-capital/id1336107529?mt=2 @GGVCapital
GGV Capital's Hans Tung and Zara Zhang interview Eric Yuan, founder and CEO of Zoom, the leading video conferencing solution for enterprise. Zoom is used by a third of Fortune 500 companies and 90% of the top 200 universities in the US. Eric was recently named the Top CEO on Glassdoor, with an approval rating of 99%, and was the first person of color to win the award. Eric grew up and went to college in China, arrived in Silicon Valley in 1997 and joined WebEx when it was still a small company. In 2007 WebEx was acquired by Cisco and Eric became Cisco's Corporate VP of engineering in charge of collaboration software. Eric spent 14 years in total at WebEx and grew its engineering team from 10 to 800, and increased its revenue from zero to over $800 million. Eric holds 11 patents, plus 20 pending patents in the pipeline. In this episode, Eric shared his story of being rejected a US visa for 8 times while in China, how to overcome the “bamboo ceiling” as a Chinese engineer in Silicon Valley, and what makes Zoom different from its competitors. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called “996,” which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
Hans Tung and Zara Zhang interview Jenny Lee, a managing partner at GGV Capital based in Shanghai. Jenny joined GGV in 2005 and was instrumental in setting up GGV's presence in China. Forbes recently ranked Jenny as the world's 16th most powerful woman in tech. A self-professed geek who loves new technologies and products, Jenny has been involved with consumer internet, SaaS, and frontier technology companies at GGV, and has helped many go public. Since 2011, Jenny has been recognized by the Forbes Global 100 VC Midas List of top venture capitalists, ranking as the #1 woman and #10 overall in 2015. Jenny grew up in Singapore and was educated in the U.S., where she attended Cornell and Northwestern University. In this episode, we discussed how Jenny rose from a newcomer to one of the most respected VCs in China, how she set up the China presence of a U.S. venture capital firm, how venture deals are done in China, and how U.S. companies can better align themselves with Chinese government's interests. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called "996," which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
In the first joint live session of GGV Capital's 996 Podcast and the Sinica Podcast, we interviewed Yasheng Huang, a renowned economist and professor of global economics and management at the MIT Sloan School of Management. GGV Capital's Hans Tung and Zara Zhang were joined by Kaiser Kuo, host of the Sinica Podcast and producer of the 996 Podcast. Huang founded and runs the China Lab and the India Lab, which aim to help entrepreneurs in those countries improve their management skills. He is an expert source on international business, political economy, and international management. In collaboration with other scholars, Huang conducts research on human capital formation in China and India, entrepreneurship, and ethnic and labor-intensive foreign direct investment. In this episode, we discussed the recent trade tensions between the U.S. and China, how geopolitical factors are affecting the global tech industry, and how China's growth story compares with that of India and other developing countries. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called "996," which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
GGV Capital's Hans Tung and Zara Zhang interview Yinglian Xie and Fang Yu, the co-founders of DataVisor, a fast-growing startup in Silicon Valley that provides big data security analytics for consumer-facing websites and apps. Its customers include some of the largest companies in the world, such as Alibaba, Dianping, Pinterest, Yelp, and Bytedance (a.k.a. Toutiao), among others. Both Yinglian and Fang have decades of experience in internet security, specifically on fighting large-scale attacks to online services, such as fraudulent online payments, spamming, user hijacking, search-result poisoning, etc. They were both senior researchers at Microsoft for many years before starting DataVisor in 2013, and have filed over 20 patents. Yinglian received her Ph.D. in computer science from CMU and a Bachelor's degree from Peking University. Fang holds a Ph.D. in computer science from Berkeley and a Bachelor's degree from Fudan University. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called "996," which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
GGV Capital's Hans Tung and Zara Zhang interview Bertrand Schmitt, the CEO and co-founder of App Annie, the leading global provider of app market data. Bertrand started App Annie in Beijing in 2011 and has since then grown it into a truly global company, with 450 employees across 13 countries today. App Annie is now used by industry leaders all over the world. Customers include Google, Snapchat, and the New York Times as well as Chinese companies like Tencent, Bytedance, and Xiaomi. In this episode, we discuss why Bertrand, a native of France, chose to move to China despite the language and cultural barriers, how a non-Chinese entrepreneur can become successful in China, and why having a multicultural DNA can be the best asset for startup teams today. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called "996," which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
On the first live show of the 996 Podcast, GGV Capital's Hans Tung and Zara Zhang interviewed Nathan Blecharczyk, the co-founder and chief strategy officer of Airbnb, and the chairman of Airbnb China. In front of 150 audience members gathered at Airbnb's San Francisco headquarters, Nathan discussed Airbnb's China strategy, how it has evolved over the years, and what lessons he has learned through working with China. He also explained how to build relationships in China, how the company thinks about local competitors, and why Chinese authorities might actually be more open-minded than those elsewhere. GGV Capital is an investor in Airbnb, and managing partner Hans Tung and Glenn Solomon have been advising the company's China strategy. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called "996," which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
GGV Capital's Hans Tung and Zara Zhang interview Brad Bao, the co-founder and chairman of LimeBike, a fast-growing dockless bike-sharing company in the U.S. based in San Mateo, California. Founded in January 2017, LimeBike is currently in more than 50 different markets in the U.S., and has helped users with more than 2 million trips since it launched. Before founding LimeBike, Brad was an investor at Fosun Kinzon Capital, and previously helped launch and build up Tencent's U.S. operations as Tencent's first employee outside of China. LimeBike is an example of a phenomenon known as “copy from China” — importing innovative business models from China into the U.S. In this episode, we discuss Brad's “pivot” from an investor searching for a bike-sharing deal to the founder of a bike-sharing company, why bike sharing can work in the U.S., and why being cross-border is a crucial advantage in this space. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called "996," which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
Miranda Qu is the co-founder of Xiaohongshu (“Little Red Book” in Chinese), the world's largest lifestyle platform that integrates community and content with ecommerce. Over 75 million users spend a total of over 100 million yuan per month on the app to buy fashion, cosmetics, and lifestyle products from both overseas and domestic brands. Xiaohongshu is a pioneer in integrating content, commerce, and community — the “3 Cs” that GGV managing partner Hans Tung thinks today's ecommerce platforms must possess in order to stand out in “the age of Alibaba and Amazon.” Miranda graduated from Beijing Foreign Studies University with a degree in journalism, and left her job in 2013 to start Xiaohongshu. In this episode, Miranda discusses how she met her cofounder, Charlwin Mao, in a shopping mall in Boston; Xiaohongshu's journey from a “Lonely Planet for overseas shopping” to one of China's most popular ecommerce platforms; and why young Chinese consumers increasingly prefer domestic brands over foreign ones. Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called "996," which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
Yi Wang is the founder and CEO of Liulishuo (a.k.a. LingoChamp), China's leading mobile learning platform for spoken English, with over 70 million users. It uses speech recognition technology to enhance the learning experience and provide learners with measurable and proven results. Within a few months of launching, Liulishuo rose to the top of the Apple app store in China, and was recently ranked by CB Insights as one of the 100 most promising artificial intelligence startups in the world in 2018. Yi is a “sea turtle” (海归, overseas returnee) who returned to China after studying and working in the U.S. He received his Ph.D. in computer science from Princeton University in 2009 and his M.S.E. and B.E. in electronic engineering from Tsinghua University. Before founding Liulishuo in 2012, Yi was a product manager at Google's headquarters in Mountain View, California, from 2009 to 2011. Yi has also worked as a product director at AdChina, responsible for its performance ads platform. In this episode, we discuss questions such as: Why did Yi choose to leave his comfortable job in Silicon Valley to start a new venture in China? What challenges must “sea turtles” overcome to successfully start a company in China? What makes Liulishuo so engaging to its millions of users? Will AI ever replace human teachers? Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called "996," which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
Lin Bin, the co-founder, president, and head of mobile for Xiaomi, reveals the secret sauce of one of the most valuable private companies in the world, which is reportedly going public later this year. Xiaomi had an unprecedented “comeback year” in 2017. In January 2018, Xiaomi was the third-largest smartphone seller in the world by shipment, the No. 1 smartphone seller in India, and one of the top five sellers in 12 other countries. Lin Bin, an engineer by training, recounts the founding story of Xiaomi, the uniqueness of the “Xiaomi ecosystem,” the phenomenon called “Mi Fans,” how he learned to fall in love with offline retail, and his takeaways from Xiaomi's meteoric rise in 2017 following a sluggish 2016. Prior to Xiaomi, Bin worked at Microsoft for 11 years and Google for 4 years. He served as the engineering director of Microsoft Research Asia, the vice president of the Google China Institute of Engineering, and the engineering director of Google Global. Hans Tung, one of the earliest investors and a former board member of Xiaomi, discusses how he first met the team and why he believed in a company whose success was considered “almost impossible.” Join our listeners' community via WeChat/Slack at 996.ggvc.com/community. GGV Capital also produces a biweekly email newsletter in English, also called "996," which has a roundup of the week's most important happenings in tech in China. Subscribe at 996.ggvc.com. The 996 Podcast is brought to you by GGV Capital, a multi-stage venture capital firm based in Silicon Valley, Shanghai, and Beijing. We have been partnering with leading technology entrepreneurs for the past 18 years from seed to pre-IPO. With $3.8 billion in capital under management across eight funds, GGV invests in globally minded entrepreneurs in consumer internet, e-commerce, frontier tech, and enterprise. GGV has invested in over 280 companies, with 30 companies valued at over $1 billion. Portfolio companies include Airbnb, Alibaba, Bytedance (Toutiao), Ctrip, Didi Chuxing, DOMO, Hashicorp, Hellobike, Houzz, Keep, Musical.ly, Slack, Square, Wish, Xiaohongshu, YY, and others. Find out more at ggvc.com.
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