The Digitization of Business in China: Exploring the Transformation from Manufacturing to a Digital Service Hub
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Book Overview
Part One: Digital Business as tool of social network
China's Online Peer-to-Peer (P2P) Lending Platforms by Dr Fong
The Key for Non-Profit Crowdfunding through Internet Social Media by Dr PengThe Language of Luxury Hotel Website in China by Dr Suen
The Development Path of WeChat: Social, Political and Ethical Challenges by Dr Chen
Part Two: Digital Business as tool of service providers
Digital Business and Chinese Consumers' Purchase Intention in Indonesia by Dr Tao
Enhancing brand image and brand trust in the Vietnamese Tourism Industry via E-word of mouth - by Dr Thao
Digitalisation in Dentistry: Development and Practices by Dr Lin
Alibaba and Diversification by Dr Kim
The regional Expansion of China's Digital Business and its impact on Taiwan by Dr Wu and Dr Weng
Conclusion: Marketing in China in Digital Way by Dr Cooley
China's Online Peer-to-Peer (P2P) Lending Platforms - by Dr Michelle W. L. Fong
China's online P2P lending industry first emerged in 2007 and grew at frenetic speed between 2012 and 2015 in the shadow of the banking industry. The lack of market entrance thresholds, sound regulations and regulatory oversight led not only to an un-reined and rapid proliferation of online P2P lending platforms but also to a surge in the number of problematic platforms as a result of their lack of experience in managing such businesses, their mismanagement and/or their fraudulent practices. The Chinese government thus faces a huge challenge as it strives to resolve such distortions which jeopardise this industry as an alternative source of financing to private small and medium enterprises (SMEs). These SMEs are important economic entities but constantly encounter difficulty in borrowing from the traditional banking channels which have preferred lending to big players such as state-owned and public-owned enterprises. The online P2P lending platforms are not expected to replace the traditional banking channels, but are financial intermediaries with a promising potential in addressing the financing vacuum long faced by SMEs. This paper examines the development of the online P2P lending industry, its borrowers and lenders, its problem platforms, and the legislative and regulatory inadequacies and reforms.
Key words: Borrowers, Lenders, Investors, Problem Platforms, Small and Medium Enterprises (SMEs)
The Key for Non-Profit Crowdfunding through Internet Social Media - by Dr Peng Gao
Non-profit crowdfunding is quite different from profit-based crowdfunding in a plethora of ways. Despite the growth of profit-based crowdfunding within multiple industries, the non-profit crowdfunding initiative has also won popularity among ordinary people's social lives. This paper seeks to define the concept of non-profit crowdfunding by exploring its categories, characteristics, and practices. Regardless of its common characteristics with profit-based crowdfunding, the non-profit crowdfunding functions with several unique features, which deserve more attention from the initiators in order to carry out a successful non-profit crowdfunding project. By interviewing several successful and unsuccessful non-profit crowdfunding initiators, and multiple donators; the chapter will endeavour to identify and explicate the elements that are closely involved in the process of non-profit crowdfunding projects. These involving elements that can be divided into the subjective elements, that is, the elements that have direct association with people, such as the purpose of the initiator/pr
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