China is leading the mobile technology race thanks to pioneering technology and a generation of Chinese consumers who have known no other platform. AtlasTrend Co-founder, Kevin Hua shares insights with Which-50 about what is driving the digital boom in China and where it’s heading. (Viewing time 3:05 mins)
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“In China there’s 700 million mobile users and for many of these people it’s the first sort of internet device they’ve ever used,” Hua told Which-50.
“That’s why China is so far ahead in terms of its mobile technology.”
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Much of the mobile technology that’s now popular throughout the western world originated in China and has given its homegrown tech companies a head start, according to Hua.
Live streaming – a core feature of many US tech platforms like Facebook and Snapchat – was pioneered in China, Hua explained.
You’ll find live streaming as a standard feature in the incredibly popular Chinese app, WeChat. Tencent’s most famous mobile app is well on the way to delivering a complete digital ecosystem and is another example of the booming mobile market, Hua said.
China is also making ground on delivering the elusive omnichannel experience, according to Hua. “Chinese companies are leading this ecommerce charge [with the] integration of offline and online shopping,” he said.
“Alibaba have pioneered that… The real motivation there is to create an omnichannel experience that stretches across both online and offline.”
International markets are on the horizon of Chinese digital companies, but, for now at least, the focus is on the sizeable domestic market, Hua said.
“With 1.3 billion people and 700 million mobile users, it’s clearly the largest market out there for all corporates to focus on. But I think longer term a lot of these companies are going to be world beaters.”
Some already are, according to Hua. Hardware companies, Huawei and Lenovo, now enjoy global market shares and “it’s only a matter of time” before Chinese giants Alibaba and Tencent expand into international markets, Hua said.
“A lot of them have already made acquisitions offshore and that’s only going to continue.”
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Republished with permission from Which–50.com