Friday, September 20

China web Report reveals however school companies have gone from copycats to trailblazers

China’s web giants accustomed be referred to as copycats for making clones of Western social media platforms back in their home market – however those days area unit long gone which trend is currently in reverse.

Today, world web firms from the U.S. to {southeast asia|Southeast Asia|geographical area unita|geographic area|geographical region|geographic region} are trying to duplicate Chinese ideas – from models like the all-in-one super app, to social commerce likewise as short video, in keeping with findings from the China web Report 2019.

The second edition of the China web Report, launched at Hong Kong’s RISE conference on Wednesday, delves into China’s drive to be a worldwide leader in innovation and examines opportunities and challenges facing its technology-led industrial transformation.

The report was authored by the South China Morning Post and its sister web site Abacus, in conjunction with Edith Yeung, managing partner at blockchain capital fund Proof of Capital.

Companies like Indonesian ride-hailing company Go-jek, Japan’s LINE electronic messaging app and even Facebook within the U.S. area unit currently moving towards the super-app model, originally pioneered by Tencent’s WeChat, the report found. The WeChat electronic messaging app offers users a spread of services from creating mobile payments to ordering food deliveries, that may all be accessed while not departure the app.

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China is additionally leading the means in social e-commerce likewise as short video. The short video craze was popularised by TikTok, AN app by Chinese company Bytedance, that enables users to post 15-second video clips. TikTok took the globe by storm and have become the foremost downloaded app on the iOS app store for 5 consecutive quarters.

Another key trend for China technology this year revolves around China’s ambitions to steer in next-generation 5G technology networks. China presently holds the foremost range of 5G patents, and has 5G pilot comes stepping into over a dozen cities with a complete population of 167 million, in keeping with the report.

Artificial intelligence (AI) is additionally being employed on a huge scale in China, with applications starting from paying one’s train fare or checking into a edifice victimization biometric authentication, to creating custom recommendations for on-line searching or browsing news on-line, the report found. AI is additionally used wide for police investigation functions, like serving to authorities catch fugitives on the run or imposing traffic laws.

The China web Report provides deep dives into eleven key sectors that compose China’s technology landscape – as well as e-commerce, social and electronic messaging, the sharing economy, 5G, AI, sensiblephones and smart devices. knowledgeable statement from business leaders like Lee Kai-fu of Sinovation Ventures, Razer chief govt Tan Min-liang and Eric Xu, managing partner of GGV Capital, area unit enclosed within the report.

“Technology has been a central piece of the US-China trade war, therefore understanding what’s driving school in China is important data in today’s world,” aforesaid SCMP’s technology editor Chua Kong Ho.

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“Tech firms from round the world area unit taking cues from new digital innovations and new school business models in China driving the fourth technological revolution. The China web Report are essential reading owing to China’s web industry’s growing world influence,” he said.

Proof of Capital’s Yeung, World Health Organization co-authored the report with the Post and Abacus, aforesaid it’ll “help any reader have a clearer grasp on the technology trends shaping China”.

“We area unit excited to share new insights with the globe to higher perceive the colourful dynamic web landscape in China and its digital innovations that drive the transformation of payments, blockchain, retail, e-commerce and education,” she said.