Blockchain spending

CHINA’S spending on blockchain technology will see rapid growth in the coming years to reach over US$2 billion in 2023, a report by global market intelligence firm IDC showed.

The country’s expenditures on blockchain technology will see a compound annual growth rate of 65.7 percent from 2018 to 2023, the company estimated. In 2019, most of the country’s blockchain spending went to the banking sector, while discrete manufacturing, retail, professional services and process manufacturing were among the top industries that attracted blockchain spending.

Job-hopping

AN overwhelming majority of Chinese people in the workplace said they found many young people changed their jobs within their first three years of working, according to a recent survey by the China Youth Daily.

The proportion of respondents saying so accounted for 90 percent of the 1,984 people surveyed, the Beijing-based newspaper reported. More than 65 percent believed the choice was a result of low pay and benefits, the survey showed, adding other contributing factors include bleak prospects for promotion and high work pressure.

Bicycle industry

PEDAL bicycle output in China stood at 3.74 million in August, up 0.2 percent from the same period of last year, said the Ministry of Industry and Information Technology (MIIT).

The output of electric bikes climbed 43.5 percent year on year to 3.26 million in August, according to the ministry. During the January-August period, pedal bicycle output dropped 7.3 percent year on year to 22.66 million, while the output of electric bikes rose 17.81 percent year on year to 18.29 million.