Yale Club of Shenzen: 2018 Summer Gathering and New Admit Welcome Reception

Yale Club of Shenzhen (YCSZ) and Association of Chinese Students and Scholars at Yale (ACSSY) collectively invite you to join our Summer Gathering and New Admit Welcome Reception on June 23rd, to welcome the newly accepted students and scholars entering Yale this fall, as well as new Shenzhen arrivals. We are looking forward to meeting new faces and old friends.

耶鲁深圳校友会(YCSZ)与耶鲁大学中国学生学者联合会(ACSSY) 共同诚邀您参加我们于6月23日举行的夏日聚会暨迎新招待会。我们期待与新老朋友共聚一堂,共度美好夏夜。

June 23, Saturday

6月23日,星期六

7:30-10:00 pm

Floor 4, Hilton Shenzhen Futian

No. 1003 Shen Nan Road

Futian District, Shenzhen

(Gangxia North Subway station on Line 2, Exit A )

大中华希尔顿酒店四楼深南大道1003号深圳福田区(2号线岗厦北站A出口)

Free for new admits, current students and recent graduates;

RMB 250 for Yale Alumni. You can transfer it via WeChat or pay in cash.

耶鲁新生,在校生以及新近毕业生免费;

耶鲁校友每位250元;微信转账或现金支付皆可。

Please reigister with Janet Zheng – the club manager (WeChat: janet425251).
请与校友会经理Janet Zheng联系报名 (微信号:janet425251)。

Yale Club of Beijing: Harbinger Interview with Julia Zhu (SOM ’98)

The Harbinger recently spoke with Julia Zhu (pictured left), Yale SOM alum, active Yale Club of Beijing member, and co-founder and CEO of Phoenix Live Entertainment Company. In the interview, Julia shares her views on key trends within China’s entertainment market, from monetizing IP and key content channels to the continued importance of offline models.

The Harbinger is an online, English language content platform covering innovation in China’s tech industry founded by Adam Bao, Yale ’12.

Can you tell us more about the key channels in China used to pipe entertainment content to consumers?

BATs (Baidu, Alibaba, and Tencent) are huge.  They have resources to aggregate all types of entertainment content, and invest in many of the hot start-ups you hear about.  Bilibili, Douyin, some of the relatively newer content sharing platforms are also super popular. In China, the audience base is huge, much larger than in the US, and people are willing to pay top dollar.  For example, iQiyi, which is comparable to Netflix in the US and just went public, has over 60 million paying subscribers. This is a big change from back in the day… when everyone was just pirating content.  I remember trying to sell set-boxes in the past and no one would actually pay for it, what a change!

TV networks in China are huge.  But as users shift towards consuming content on mobile devices and over the internet, how are these traditional players responding?

As an overview, there are hundreds of TV stations with thousands of channels and these networks are generally controlled by central, provincial and municipal governments. Each province has a major satellite TV channel, each with its own positioning.  For example, Hunan TV has for a long time been entertainment focused leanings towards a younger audience. Hainan TV is more travel based.  Guangxi is more focused on fashion related topics. These TV networks are very important, and some are still quite popular.

And how do they make money?

Advertisement.  Advertising dollars from the commercials. Popular shows like “The Voice”, “China’s Got Talent”, etc. generate significant advertising dollars.  Furthermore, there are also competitions and road shows where they organize concerts before and after the program, which generate ticket sales, sponsorships and product placement.  All in all it’s quite dynamic and successful.

Some of these TV stations also seem active when it comes to investment, or trying to create their own internet based products.  What is their strategy there?

As an example, Hunan TV also has Mango TV, which is similar to iQiyi.  They’ll charge for subscriptions, with their exclusive international and domestic shows.  They are able to buy a lot of popular and good quality entertainment from around the world, including the Oscars, Grammy Awards, Eurovision, etc. That comes back to the philosophy Rupert Murdoch used to push through News Corp and all of its subsidiaries and affiliated companies that content is king.  At the end of the day, it doesn’t matter what innovative technology or platform is used, it always reverts back to what the best content is.

That being said, mobile and internet distribution platforms make content easily accessible to a lot more people.  That helps enhance content, because there is more data… more feedback, faster feedback from consumers, which allows creators to better refine their content.

Content is king, but how can you best monetize it?

That’s the million-dollar question. That’s constantly on my mind, and I’m constantly looking for great IP, creating our own IP, and licensing our own IP from around the country and also overseas. There are multiple revenue streams from IPs. For example, there’s a popular Japanese book called 解忧杂货铺; there have already been two movies made (in Japan and China) based on the book. Early this year, it has been produced into a stage show. From a book, it has been made into movies, stage shows, and leveraged for merchandising as well. All these revenue streams extend from quality IP. People recognize this, and the market is becoming more and more mature. I would say this is where the investment should go into: top quality IPs, and not only just the IP holder but also the operators that are experienced in helping establish the commercial value chain of these IPs. At the end of the day, creating IP that is commercially viable is really hard  but the returns can be fabulous if you do it right with patience and capture the right timing to market.

Application of AI in entertainment industry?

In the future, everybody can be an author, a creator. That’s the beauty of the Internet, or what we call “personal media” (自媒体). You can put your work out there and let the market judge. The problem  is that the quality of 90% of internet “personal media” content is usually lacking in quality. AI can be an efficient and effective curator for the millions of work out there created by professionals and amateurs. Of course, AI can also help leverage all the data and intent signals generated to rank and cherry-pick the best chosen ones.  This is already being done (think Netflix, Spotify, Youtube recommended content), and will only continue to improve!

Why not just watch on the Internet?

The experience of going to live events cannot be compared with watching live streaming on your smartphone or TV. It’s very different. For live show events, you share this experience with your family members, friends and all the people around you. There has been revival of live entertainment probably because people spending too much time on the Internet.  In addition, Chinese consumers are going through a transformation of shifting spending power to more services and immersive live experiences, such as travel and live entertainment events.  Shopping malls and travel designations in China also need more live events to drive on ground traffic to these venues.
The trend I see in China and also around the world is that there’s a big come back for live events, and notably music festivals for outdoor and pop-up style entertainment exhibitions with merchandising opportunities for shopping malls.  For example, the growth of music festivals around the world is on average between 30- 50% on an annual basis. There’s a huge surge of music festivals. There are going to be Creamfields and Ultra in Beijing, and EDC was in Shanghai a few weeks ago. They are all coming to China!

India-China Relations in the Age of Xi Jinping

Chinese and Indian troops at standoff at India's border with Bhutan in summer 2017; India's Prime Minister Modi and Chinese President Xi meet

The leaders of China and India, Xi Jinping and Narendra Modi, have nationalist tendencies with a pragmatic bend. Varying economic growth for the two rival nations and contrasting systems of governance – one increasingly authoritarian and the other democratic – have given China the upper hand as a power broker in Asia, suggests Shyam Saran, former foreign secretary of India and a senior fellow at the Centre for Policy Research in New Delhi. China is taking a conciliatory approach for the time being due to unpredictability in the global economy and regional security. Saran analyzes how leadership influences the Chinese-Indian relationship: Xi and Modi rely on leader-to-leader engagement and focus on a “strategic and global dimension” beyond typical dynamics of bilateral relations. Both men explore numerous areas where compromise can be pursued, allowing both emerging powers to focus on pressing matters at home and abroad during a period of great uncertainty. – YaleGlobal

Yale Club of Hong Kong: Summer Boat Cruise

Date : Saturday 23-Jun-2018
Time : 11:00am
Venue : Aberdeen Marina Club & HK Geopark
Event fee for pay in advance : HK$300.00 (Member)
: HK$400.00 (Associate)
: HK$400.00 (Guest)
Sign-up Deadline : Friday 22-Jun-2018
Contact Person : Sam Wong: samwong@aya.yale.edu

 

Dear Yalies,
Please join us on a summer boat cruise to welcome new Yalies and summer interns (College, SOM, Graduate School, etc.) coming to Hong Kong.  We will be going to Sai Kung, where we will visit Hong Kong Geopark.  This is a spectacular part of Hong Kong that many people have not seen, and is only accessible by boat.  Given its significance and beauty, in 2011, UNESCO listed it as part of its Global Geoparks Network. For more information, see Hong Kong UNESCO Global Geopark.
geopark
We will depart from Aberdeen Marina Club at 11:00 am.  As part of the cruise, a barbecue lunch will be served on board. And along the way, we will have some time to go swimming, so please bring your swimsuit.  We will probably arrive back at Aberdeen Marina Club at around 6:00 p.m.
WhenSaturday, June 23, 11:00 a.m.
Meet At:  Aberdeen Marina Club, 8 Shum Wan Road, Aberdeen, Hong Kong
Cost: Yale Club Members, students and new Yalies coming to Hong Kong:  HK$300
          Non-Yale Club Members:  HK$400
Bring: Sunscreen, swim clothes, towel, and camera.
Food: The boat crew will serve barbecue, but we request everyone to bring their own drinks.
N.B. for current students / interns: Before signing up, please make sure to register for free as a YCHK Affiliate Member. That way you will be able to enjoy Member pricing for this and other events.
Given we are on a boat, space is limited, so sign-ups are first come first serve.  We request that only Yale alums, interns, and new Yalies coming to HK sign up at this time.  If you intend to bring family/guests or have any questions, please send an email to samwong@aya.yale.edu.  We will put guests on a waitlist on a first come first serve basis, and we will notify you later if space is available.
Thanks to Teresa Ding (YC 07) and Linklaters for sponsoring our summer boat cruise!

Salovey plays role in Peking University’s 120th anniversary celebration

President Peter Salovey the the 13th annual IARU Presidents' Meeting at Peking University.

Salovey plays role in Peking University’s 120th anniversary celebration

President Peter Salovey the the 13th annual IARU Presidents' Meeting at Peking University.
President Peter Salovey (front row, left) at the the 13th annual International Alliance of Research Universities Presidents’ Meeting at Peking University. The annual meeting of IARU Presidents and Senior Officers coincided with PKU’s 120th anniversary celebration. (Photo credit: International Alliance of Research Universities via Facebook)

President Peter Salovey spoke on behalf of all international universities at a ceremony in Beijing on May 4, celebrating the 120th anniversary of China’s Peking University (PKU).

Founded as the Imperial University of Peking in 1898, Peking University is one of the oldest modern institutions established for higher education in China. The event was attended by numerous distinguished guests including Lin Huiqing, China’s Vice Minister of Education, as well as PKU faculty, students, and alumni, and the presidents of more than 240 universities from around the world. In his speech, President Salovey lauded Yale and Peking University’s vibrant history of many long-standing and ongoing collaborations including extensive academic partnerships between Yale and PKU law schools, and joint history projects in the sciences, literature, environmental studies, and history. He also cited how one of PKU’s early presidents, Ma Yinchu, earned his master’s degree in economics from Yale in 1910.

Go here to read more about Yale’s rich history in China.

https://news.yale.edu/2018/05/08/salovey-plays-role-peking-universitys-120th-anniversary-celebration

 

Forging Connections with China over Lunch

Yale University has a long history of collaborating with and welcoming Chinese scholars, going back over a hundred years to the very beginning of the twentieth century. A new chapter in that partnership began in 2006 with the inauguration of the China Scholarship Council (CSC) – Yale World Scholars Program in Biomedical Sciences, a joint project initiated by Yale and the Chinese Ministry of Education. The CSC – Yale World Scholars Program recruits top graduates in the biomedical sciences from a select group of elite Chinese universities for the same rigorous program of specialized research training available to all Yale Ph.D. students in the Biological and Biomedical sciences. The nine participating Chinese universities are Fudan University, Nanjing University, Huazhong University of Science and Technology, Peking University, Shanghai Jiao Tong University, Sun Yat-Sen University, Tsinghua University, University of Science and Technology of China, and Zhejiang University. Each school nominates several top students for consideration, and those who are admitted into the CSC-Yale program are well positioned to become leaders in scientific research, both in China and worldwide.

https://gsas.yale.edu/news/forging-connections-china-over-lunch

India’s Indian Ocean Challenge

 Indian Premier Narendra Modi with James Alexis Michel, president of Seychelles, during a 2015 visit, and a bridge crossing ocean waters to the Maldives airport, built by China, nears completion

Framed by Africa and Asia, the Indian Ocean is a potential source of global growth, already carrying two thirds of the world’s oil shipments and half the container traffic. China and India increasingly compete in the region, country by country, though local politics and resentments over tourism, trade or labor can derail efforts. India discovered this in the Seychelles after a deal on building a navy base on Assumption Island fell apart. “India’s attempt to gain a foothold in the western Indian Ocean may have suffered a temporary setback, but it won’t be the last of such attempts,” explains Harsh V Pant. “Competition for influence in the Indian Ocean is heating up with China and India both mapping out respective strategies.” China could take a lead with its extensive Belt and Road Initiative, but some partners are increasingly concerned about debt associated with the infrastructure investment. Potential partners leverage their opportunities, and Pant concludes that with a rapidly shifting strategic landscape, both countries must meet expectations or lose credibility as regional powers. – YaleGlobal