Road To China
They keep popping everywhere you go: China is eating the world. Some big numbers courtesy of Fortune Newsletter:
- China now accounts for a whooping 42% of global commerce – more than France, Japan, the U.K. and the U.S. combined.
- Mobile payments are now used by 68% of China’s Internet users and totaled $790 billion last year — 11 times more than in the U.S.
- China’s venture capital industry has exploded from $12 billion, or 6 percent of the global total, in 2011–13, to $77 billion, or 19 percent of the worldwide total, in 2014–16. China leads the U.S. in fintech venture investment.
- The BAT companies – Baidu, Alibaba, Tencent – provide 42 percent of the venture funding in China, compared to the 5 percent provided in the U.S. by the FANG companies – Facebook, Amazon, Netflix, Google.
Then a research fellow in an American university put this one for Chinese tech.
Chinese technology companies are now among the most valuable—and innovative—in the world. Facebook’s Chinese competitor Tencent eclipsed it in market capitalization in November, crossing the $500 billion mark. Tencent’s social media platform WeChat enables bill payment, taxi ordering, and hotel booking while chatting with friends; it is so far ahead in innovation that Facebook may be copying its features. Other Chinese companies, such as Alibaba, Baidu, and DJI, are racing ahead in ecommerce and logistics; artificial intelligence and self-driving cars; and drone technologies. These companies are gearing up to challenge Silicon Valley itself.
The question now is: what is the road to China?
Tekedia Mini-MBA edition 16 (Feb 10 – May 3, 2025) opens registrations; register today for early bird discounts.
Tekedia AI in Business Masterclass opens registrations here.
Join Tekedia Capital Syndicate and invest in Africa’s finest startups here.
Quite true and very revealing. China was nowhere in the beginning of 21st century and all of a sudden rose to become a giant in commerce. 9 out of every 10 products in the global market is probably made in China.
The road to China or rather put this way - what lead to China's emergence as a global powerhouse in commerce?. I think innovative ideas and resilience could have brought them this far.
Uche Ahaiwe
Uche: I will take that. Thanks
"The road to China or rather put this way - what lead to China's emergence as a global powerhouse in commerce?. I think innovative ideas and resilience could have brought them this far."
