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July 10, 2018 09:20 am

China Internet Report 2018

At Rise Conference in Hong Kong on Tuesday, Abacus executive producer Ravi Hiranand, South China Morning Post technology editor Chua Kong Ho, and 500 Startups partner Edith Yeung presented China Internet Report 2018, highlighting the big names and wider trends shaping China's technology. The takeaway: China has nearly 3 times the number of internet users as the United States, and the gap will only widen: China has 772 million internet users, vastly more than the 292 million in the US. And there's still plenty of room to grow -- internet penetration is only at 55% in China, while in the US, it's 89%. Beijing is China's unicorn capital: Some of China's biggest tech giants may have started in Shenzhen, but Beijing leads the way with 31 tech unicorns. (Shenzhen has just 11!) China's internet giants are doing everything: From streaming video to self-driving cars, the big three (Baidu, Alibaba and Tencent) are present in almost every tech sector, either by investing in startups or by building it themselves. Government policy continue to actively shape China's tech industry. China's online shopping giants are going offline. China loves short videos. WeChat's mini-programs are cementing its place as China's virtual mobile operating system: Mini-programs, which are no bigger than 10 megabytes and running in the WeChat app are gaining ground -- WeChat now hosts 1 million mini-apps, and the number of people who use them daily is expected to reach 400 million. China lags behind the US in AI, but the government wants to catch up -- soon. China is making smart speakers but Chinese users aren't buying them: There are now over 100 smart speaker developers in the country (including all of the tech giants), but demand isn't there yet -- in 2017, only 350,000 smart speakers were sold in China, compared to 25 million in the US. China is now the world's biggest gaming market: It accounts for more than aquarter of the world's total gaming revenue (the US is close behind in second). And it's dominated by two players: Tencent and NetEase, who jointly have over 60% market share in China.

Read more of this story at Slashdot.


Original Link: http://rss.slashdot.org/~r/Slashdot/slashdot/~3/jZ3RFRZBNSE/china-internet-report-2018

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