The Digitization of Business in China: Exploring the Transformation from Manufacturing to a Digital Service Hub (Palgrave Macmillan Asian Business Series)

Introduction: From 'Guanxi' to 'Digital Platform' by Y. Kim

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 Peng

The 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

Young-Chan Kim is a Senior Lecturer at the University of Greenwich, UK. Having intensely researched China and the Asia Pacific region, he has co-authored and edited six books including Chinese Global Production Networks in the ASEAN (Springer, 2016) and China and Africa (Palgrave, 2017). Young-Chan has also written several articles for academic journals.

Pi-Chi Chen is a Lecturer at the University of Greenwich, UK. Her research interests include international business, strategy, multinational enterprises based in emerging markets, and regional innovation and development. She is co-author of US Firms' Business Competence in the Taiwanese IT Industry (Springer, 2016).