When biz model innovation comes full circle

In theory, innovation, in the context of business, shouldn't be synonymous with simply coming up with new business models. But that has proven to be the de facto driver fueling the success of China's thriving internet sector.

With a string of layoff plans being announced by some of the big-name digital firms of late, reflective calls are mounting for the country to make more hardcore technological breakthroughs on top of a variety of novel business innovations.

To be fair, tech giants also assured there will be major recruitment drives and no further layoffs this year. Be that as it may.