Over the past decade, China’s tech sector has evolved from duplicating ideas from Silicon Valley to developing its own apps and sites tailored to Chinese culture. Faster, efficient, easier, social, more transactional, and with an appeal in rural areas.
The scale and speed of China’s digital universe is incredible. Cut-throat competition keeps Chinese tech titans in high positions in the permanently marketed market. China’s young, digitally-informed population is rapidly moving into new apps in a high-paying, highly competitive marketplace. China has the largest number of mobile phone, payment and e-commerce users in the world, there are many innovative apps that serve consumer lifestyles such as SuperPeativan for all its multitasking, and messaging and Payment app and chat,
Email and cash are dead in China, as I write my new book: China’s Titan Titles. It helped China that during the PC era it got better ipped and went straight to mobile.
The Chinese digital universe is more social than the West. The social trade market originated in China, and became popular there. Chinese shopping site Xiaohongshu, which translates to Little Red Book but has nothing to do with Chairman Mao’s quotation book, combines online shopping with social media and key influencers. The Shanghai-based cosmetics and fashion shopping app allows regular consumers and opinion leaders to post reviews and share shopping experiences, hobbies, and lifestyles. It has reached 200 million users, and with 3 billion posts a day, this number will be a moment in the West.
China has already proven that it can innovate and work harder. The next step is to expand our reach to new areas. Already, China’s tech titans are entering India and Southeast Asia ahead of their business model Great Wall (that can’t be reached on Facebook, Google, YouTube and Twitter) and adopting the latest technology. ۔
For example, Alibaba has invested in several major e-commerce and only payment startups in Southeast Asia and India: Tokopedia in Indonesia, Lizada in Singapore and Wide in the Region, Remote in Pakistan, Paytm in India. ۔ As a result, Chinese tech titan Tencent has ride-hailing, digital content, music streaming and online fashion sites in the area.
China’s tech titans are moving faster than the US giants competing to invest in this vast region of Asia that promises to be China’s next opportunity.
These powerful trends in China will present a challenge to Silicon Valley’s continued global leadership.