Quotable

China has been swept by the idea of a sharing economy. A growing number of people realize the new business model and are willing to be part of it.

Yu Fengxia, director of the Information Institute of the State Information Center, commenting on China's plan to impose taxes to regulate the sharing economy.

Affected by lower coal prices and the saturated global steel market, the steel, coal and power sectors are confronted with more overcapacity problems and comparatively accommodate more zombie companies.

Ding Rijia, professor at China University of Mining and Technology in Beijing. The Chinese government will invest more in optimizing management of unprofitable SOEs, Ding says.

Chip technology is the crown in the smartphone sector but it is highly cash-intensive. If we want to challenge the world's top three players, we need to devote longtime efforts in the research and development of chips.

Lei Jun, CEO of Xiaomi. He says it took 28 months for the company to turn the idea of making an in-house chip into a reality.

(China Daily European Weekly 03/03/2017 page24)