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Daily Archives: June 16, 2022

Chart: China’s Youth Unemployment Rate Set New Record in May 2022

China’s youth unemployment rate in urban areas in May was the highest since records began in 2018 as Covid-19 lockdowns restricted mobility and weighed on the labor market, with the government warning the situation could get worse as millions of fresh graduates start looking for work.

The surveyed urban unemployment rate among workers ages 16 to 24 — which captures graduates from high school and college — climbed to 18.4% in May from 18.2% in April, according to figures released Wednesday by the National Bureau of Statistics (NBS).

Source : Caixin

Chart: Sales by China’s Top 100 Developers Plummeted in May 2022

Source : Bloomberg

Music Video: Everything Is Beautiful

Apple May Have Just Announced the End of Passwords

Albert Bassili wrote . . . . . . . . .

Apple intends to roll out passwordless access for their major devices by September, potentially bringing the era of headache-inducing passwords to a timely end.

When passwords first came into the world they were both useful and simple. With a password of just eight characters long, you could secure your account or device, and you didn’t even need to worry about special characters like exclamation marks. But as technology and time progressed, passwords started needing to be more and more complex, with the ideal password length now lying at around 15 or 16 characters.

This has ended up with passwords becoming weaker over time simply because people can’t be bothered to come up with a 15-character unique password for each thing that needs it. Thankfully, there is a solution in the form of passwordless login, a way for users to log into their account without needing a password but instead using something like Face or Touch ID through their phone. In essence, it moves the onus of login from a password on a computer to a button on a mobile device.

In fact, one of the biggest security alliances, the FIDO Alliance, has been working on this problem for the past few years, and It seems a breakthrough has finally been made. As such, many large corporations, Apple included, have committed to accelerating the availability of passwordless logins. In Apple’s Worldwide Developer Conference (still ongoing), Apple announced that they would be rolling out passwordless logins for their iPhones, iPads, Macs, and Apple TVs by September. That means that a passwordless future is very much on the horizon — at least for Apple users.

Once the new system rolls in, signing up on a website or service will just require Face or Touch ID authentication to create a passkey. Then, any subsequent time you wish to log on, you can use the same authentication technique rather than having to log in using a password.

Of course, even with the new system, there are still some growing pains. For example, how widespread is passwordless login going to be? Will a majority of websites support it when Apple releases it in September, or do we still have to wait several years down the road to see universal compatibility?

Either way, this is a step in the right direction for passwordless login, and as the major companies like Apple, Microsoft, and Google start implementing it, passwords may very well be a thing of the past in a couple of years.

Source : SFGATE

China’s Internet Watchdog Tightens Mobile App Rules for National Security, Requires Promotion of ‘Core Socialist Values’

Iris Deng wrote . . . . . . . . .

China’s internet watchdog has updated its rules regulating mobile app development with stricter requirements for content and data protections, a move that could deal a fresh blow to the country’s developer community after more than 2 million apps disappeared from the market in a three-year span.

The Cybersecurity Administration of China (CAC) on Tuesday published the revised version of the Provisions on the Administration of Mobile Internet Applications Information Services, which will take effect on August 1, doubling the document’s length over the previous version published in 2016.

The CAC said the new rules will promote the “healthy development” of the industry. “With the rapid development and wider use of mobile apps, new situations and problems continued to emerge, which requires [the rules] to be revised and improved to adapt to new developments,” the agency said.

Included in the new rules is a requirement for app providers and distributors to promote “core socialist values” and adhere to the “correct” direction of politics, public opinions and values. App developers are responsible for content showcased in the app, and should not produce or circulate illegal information.

A combination of fierce competition and China’s crackdown on content and data irregularities has contributed to a steep fall in the number of apps available in Chinese app stores in recent years. The total number of apps available in April 2020 was 2.31 million, half of the 4.49 million available at the end of 2018, according to data from the Ministry of Industry and Information Technology.

However, China still has a vibrant community of app developers, which Apple CEO Tim Cook recently praised for their contribution to its global ecosystem. The country’s 5 million app developers “have always been at the cutting edge”, he told a Chinese media outlet at the Worldwide Developers Conference last week.

After China tightened regulations on cybersecurity and data handling practices last year, the new rules for app developers further highlights cybersecurity and user privacy protection. The CAC document stipulates that app developers not “endanger national security and public interest” when processing data. Security flaws and loopholes must also be reported and amended soon after they are spotted.

App providers are required to be “fair” in their handling of user data, without forcing users to agree to data processing activities or refusing to provide service to those who disagree. All new technologies, applications and functions that can influence public opinion or “mobilise society” must go through a security review process.

The legal basis for the revised regulation include three new laws that went into effect last year: the Personal Information Protection Law, Data Security Law, and the revised Minor Protection Law.

In January, the CAC also announced a new rule that requires companies operating internet platforms with the data of more than 1 million users to undergo a security review before listing on a stock exchange overseas. Another law that went into effect in March tightened control of algorithms used by Big Tech firms to recommend new content.

Source : Yahoo!

Charts: Selected Economic Data of China in May 2022









Source : Sina and Bloomberg