{"id":36,"date":"2021-05-06T14:32:29","date_gmt":"2021-05-06T13:32:29","guid":{"rendered":"https:\/\/www.gtaconnects.org\/?p=36"},"modified":"2021-05-07T15:56:54","modified_gmt":"2021-05-07T14:56:54","slug":"a-glance-at-china-tech-scene","status":"publish","type":"post","link":"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/","title":{"rendered":"A glance at China\u2019s tech market: rising innovation and a business-friendly environment"},"content":{"rendered":"
\n

Technology <\/span>is changing our lifestyle<\/span>, and undoubtedly bring us together in <\/span>an interconnected world. <\/span>In this context, Global Tech Advocates (GTA) has created a thriving community to <\/span>campaign for the betterment of the global tech industry<\/span>, and under <\/span>this\u00a0umbrella,<\/span> Tech China Advocates (TCA) is striving to motivate Chinese tech leaders, experts, investors and tech enterprises, connecting China to the world. <\/span><\/p>\n<\/div>\n

\n

Over the past 20 years, China\u2019s <\/span>economy has shifted from a stage<\/span> of high-speed growth to <\/span>that<\/span> of high-quality development<\/span>. <\/span>Besides<\/span> the <\/span>improvement of<\/span> the <\/span>entrepreneurial ecosystem<\/span><\/span>, China has <\/span>adopted<\/span> a broader national strategy to innovate. In the 14<\/span>th<\/span><\/sup><\/span>\u00a0<\/span><\/span>Five-year Plan<\/span>,<\/span> China will continue to increase R&D investment, develop a sustainable society through high-technology<\/span> and further open up the market for foreign investors. Mean<\/span>while<\/span>, promoting international cooperation remains<\/span> a core priority in<\/span> thenational agenda.<\/span> The <\/span>recent announcement of an <\/span>EU-<\/span>China Comprehensive Agreement <\/span>shows the great effort<\/span>s to facilitate foreign investment in China and generate supportive policies to improve <\/span>global business<\/span><\/span>.<\/span><\/p>\n<\/div>\n

\n

In this spirit, what are the latest trends and opportunities in China tech ecosystem?<\/span><\/p>\n<\/div>\n

\n

AI, 5G and <\/span><\/b>D<\/span><\/b>igital <\/span><\/b>E<\/span><\/b>conomy as growth drivers <\/span><\/b><\/b><\/p>\n<\/div>\n

\n

Artificial <\/span>Intelligence (AI) is the <\/span>new <\/span>leading industry in China, <\/span>underpinned by a rapidly growing market <\/span>which amounted to <\/span>around <\/span>RMB<\/span> 70 billion in 2020<\/span> and has increased <\/span>almost <\/span>five-fold<\/span> since 2015 (Statista 2021; Deloitte report 2019). <\/span>Its strength derives from <\/span>huge volumes of search data, product lines and open-source communities guided by the tech giants, <\/span>which supportAI startups to safely level up.<\/span><\/p>\n

\n

5G is an another<\/span> innovation enabler<\/span> in China<\/span>, favoured<\/span><\/span> by a<\/span> top-down national agenda<\/span> and tech giants such as Huawei<\/span> and ZTE. A huge base of internet and mobile users (around 900 million) <\/span>contributes<\/span> to 5<\/span>G development<\/span> in China<\/span>, with these 5G networksestimated<\/span> to have <\/span>650 million<\/span><\/span>\u00a0<\/span>users<\/span> by 2023, covering around 40% of the Chinese population<\/span>. <\/span>As of September 2020, China had<\/span>constructed over 690 thousand 5G base stations nationwide<\/span>, which will <\/span>generate a <\/span>larger <\/span>economic impact<\/span> and R&D initiative<\/span>seven in a global sense <\/span>(daxueconsulting blog 2020<\/span>).<\/span><\/p>\n<\/div>\n

\n

As for <\/span>the wider digital economy, China is possibly <\/span>best known for its<\/span> massive <\/span><\/span>online shopping through platforms such as Taobao, Tmall, Pingduoduo and particular events such as Double 11 that <\/span>exceeded US$116 billion<\/span> sales on Alibaba Tmall in 2020. Indeed, China enjoys considerable\u00a0online retail sales<\/span><\/a><\/span>, up to RMB 11,760.1 billion in 2020<\/span>. This indicates growth of 10.9% year on year<\/span> (<\/span>Sources: <\/span>China Internet Watch<\/span><\/u><\/span>), based on the fact that around <\/span>95% of all purchases <\/span>is<\/span> conducted<\/span>\u00a0<\/span>in China<\/span> via <\/span>e-commerce<\/span>. Apart from China\u2019s huge potential<\/span> for cross-border <\/span>e-commerce<\/span> that may lead to <\/span>a further <\/span>international shopping boom<\/span>, it\u2019s also noticeable that China\u2019s economy is<\/span> deeply<\/span><\/span> digitalised, <\/span>accounting for 36.2<\/span>%<\/span> of the GDP<\/span> with a growth rate <\/span>threetimes higher than that of the traditional manufacturing economy<\/span> (Global Times 2021). In this trend, China will play an important role in the transformation of <\/span>the global economy in the fields such as <\/span>fin-tech<\/span>, <\/span>mobile payments<\/span> and KOC marketing<\/span>.<\/span><\/p>\n<\/div>\n

\n

Emerging opportunities in special zones: F<\/span><\/b>ree Trade <\/span><\/b>Z<\/span><\/b>one<\/span><\/b> and G<\/span><\/b>reater <\/span><\/b>B<\/span><\/b>ay <\/span><\/b>A<\/span><\/b>rea<\/span><\/b><\/b><\/p>\n<\/div>\n

\n

To welcome more foreign tech talent and companies, China has carried out multiple policies to boost investment. <\/span><\/p>\n<\/div>\n

\n

Free Trade Zones (FTZ) as a proactive strategy of opening to the world, <\/span>provide<\/span> special preferential tax and regulatory policies<\/span>, in 6 \u2018<\/span>weaves\u2019<\/span><\/span> gradually covering 21 cities. Taking <\/span>Lin-gang Special Area of Shanghai<\/span> FTZ as an example<\/span>, this zone features <\/span>afavourable<\/span><\/span> tax and risk management system<\/span>, <\/span>with free investment, free trade, free <\/span>capital,<\/span><\/span> free transportation, free mobility of <\/span>talent and <\/span>facilitating the <\/span>efficient<\/span> flow of information<\/span> (Deloitte report 2020).<\/span><\/p>\n

\n

The Greater Bay Area (GBA)<\/span>, also known as the, Guangdong-Hong Kong-Macao Greater Bay Area, <\/span>includes two Special Administrative Regions <\/span>and<\/span> nine municipalities<\/span> in China. It\u2019s <\/span>the 12th biggest economy in the world<\/span> (MGI report 2019)<\/span> and witnesses the <\/span>highest concentration of<\/span>\u00a0Fortune 500 companies<\/span><\/a>\u00a0in China, <\/span>hous<\/span>ing<\/span> a majority of China<\/span>\u2019<\/span>s most innovative technology companies<\/span>. The GBA is also home to <\/span>more than 170 universities, as well as 40 national key laboratories and partnership labs<\/span>. It enjoys a rather mature <\/span>industrial system<\/span>, increasing <\/span>real estate needs<\/span> and <\/span>advanced connectivity<\/span> with <\/span>neighbour<\/span> cities.<\/span><\/p>\n

\n

TCA <\/span><\/b>is<\/b> your key to \u2018open\u2019 China market<\/span><\/b><\/b><\/p>\n<\/div>\n

\n

In 2020, the <\/span>direct investment into Chinese firms climbed 4%<\/span> and <\/span>FDI inflows<\/span> into China reached <\/span>USD 163 billion<\/span> (UNCTAD 2020). China is becoming <\/span>the world’s <\/span>ideal<\/span> destination for new <\/span>FDI, behind which stands a <\/span>promising ecosystem and <\/span>innovativetechnology development, <\/span>further boosted by its increasing exposure to the global market and embracing international cooperation. <\/span>The potential of the Chinese market is still growing in diverse way<\/span>s, <\/span>as do the supportive policies for businesses<\/span>.TCA is here <\/span>to help better connect <\/span>global businesses to the local tech community and smoothly land in <\/span>the Chinese market. <\/span><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Looking at growth opportunities for British entrepreneurs looking to enter the Chinese tech market.<\/p>\n","protected":false},"author":4,"featured_media":18,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,4],"yoast_head":"\nA glance at China\u2019s tech market: rising innovation and a business-friendly environment - GTA Connects<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A glance at China\u2019s tech market: rising innovation and a business-friendly environment - GTA Connects\" \/>\n<meta property=\"og:description\" content=\"Looking at growth opportunities for British entrepreneurs looking to enter the Chinese tech market.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/\" \/>\n<meta property=\"og:site_name\" content=\"GTA Connects\" \/>\n<meta property=\"article:published_time\" content=\"2021-05-06T13:32:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-07T14:56:54+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/markus-spiske-5gGcn2PRrtc-unsplash-scaled-e1618849113254.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"978\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Kelly Chan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@TechChinaAdv\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Kelly Chan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/\",\"url\":\"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/\",\"name\":\"A glance at China\u2019s tech market: rising innovation and a business-friendly environment - GTA Connects\",\"isPartOf\":{\"@id\":\"https:\/\/www.gtaconnects.org\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/markus-spiske-5gGcn2PRrtc-unsplash-scaled-e1618849113254.jpg\",\"datePublished\":\"2021-05-06T13:32:29+00:00\",\"dateModified\":\"2021-05-07T14:56:54+00:00\",\"author\":{\"@id\":\"https:\/\/www.gtaconnects.org\/#\/schema\/person\/2291a75e216fe5d69f2e3a3bca62adc8\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/#primaryimage\",\"url\":\"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/markus-spiske-5gGcn2PRrtc-unsplash-scaled-e1618849113254.jpg\",\"contentUrl\":\"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/markus-spiske-5gGcn2PRrtc-unsplash-scaled-e1618849113254.jpg\",\"width\":2560,\"height\":978},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.gtaconnects.org\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"A glance at China\u2019s tech market: rising innovation and a business-friendly environment\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.gtaconnects.org\/#website\",\"url\":\"https:\/\/www.gtaconnects.org\/\",\"name\":\"GTA Connects\",\"description\":\"The Voice of Global Tech\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.gtaconnects.org\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.gtaconnects.org\/#\/schema\/person\/2291a75e216fe5d69f2e3a3bca62adc8\",\"name\":\"Kelly Chan\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/www.gtaconnects.org\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/cLLvAQqv_400x400-100x100.jpg\",\"contentUrl\":\"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/cLLvAQqv_400x400-100x100.jpg\",\"caption\":\"Kelly Chan\"},\"description\":\"As well as leading Tech Shenzhen Advocates, Kelly is Head of Belgium at CENTI (China-Europe Networks of technology and Innovation).\",\"sameAs\":[\"https:\/\/www.linkedin.com\/in\/tik-yan-kelly-chan-42577b72\/?originalSubdomain=uk\",\"https:\/\/twitter.com\/TechChinaAdv\"],\"url\":\"https:\/\/www.gtaconnects.org\/author\/kellychan\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"A glance at China\u2019s tech market: rising innovation and a business-friendly environment - GTA Connects","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/","og_locale":"en_GB","og_type":"article","og_title":"A glance at China\u2019s tech market: rising innovation and a business-friendly environment - GTA Connects","og_description":"Looking at growth opportunities for British entrepreneurs looking to enter the Chinese tech market.","og_url":"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/","og_site_name":"GTA Connects","article_published_time":"2021-05-06T13:32:29+00:00","article_modified_time":"2021-05-07T14:56:54+00:00","og_image":[{"width":2560,"height":978,"url":"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/markus-spiske-5gGcn2PRrtc-unsplash-scaled-e1618849113254.jpg","type":"image\/jpeg"}],"author":"Kelly Chan","twitter_card":"summary_large_image","twitter_creator":"@TechChinaAdv","twitter_misc":{"Written by":"Kelly Chan","Estimated reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/","url":"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/","name":"A glance at China\u2019s tech market: rising innovation and a business-friendly environment - GTA Connects","isPartOf":{"@id":"https:\/\/www.gtaconnects.org\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/#primaryimage"},"image":{"@id":"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/#primaryimage"},"thumbnailUrl":"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/markus-spiske-5gGcn2PRrtc-unsplash-scaled-e1618849113254.jpg","datePublished":"2021-05-06T13:32:29+00:00","dateModified":"2021-05-07T14:56:54+00:00","author":{"@id":"https:\/\/www.gtaconnects.org\/#\/schema\/person\/2291a75e216fe5d69f2e3a3bca62adc8"},"breadcrumb":{"@id":"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/#primaryimage","url":"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/markus-spiske-5gGcn2PRrtc-unsplash-scaled-e1618849113254.jpg","contentUrl":"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/markus-spiske-5gGcn2PRrtc-unsplash-scaled-e1618849113254.jpg","width":2560,"height":978},{"@type":"BreadcrumbList","@id":"https:\/\/www.gtaconnects.org\/a-glance-at-china-tech-scene\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.gtaconnects.org\/"},{"@type":"ListItem","position":2,"name":"A glance at China\u2019s tech market: rising innovation and a business-friendly environment"}]},{"@type":"WebSite","@id":"https:\/\/www.gtaconnects.org\/#website","url":"https:\/\/www.gtaconnects.org\/","name":"GTA Connects","description":"The Voice of Global Tech","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.gtaconnects.org\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/www.gtaconnects.org\/#\/schema\/person\/2291a75e216fe5d69f2e3a3bca62adc8","name":"Kelly Chan","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/www.gtaconnects.org\/#\/schema\/person\/image\/","url":"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/cLLvAQqv_400x400-100x100.jpg","contentUrl":"https:\/\/www.gtaconnects.org\/wp-content\/uploads\/2021\/04\/cLLvAQqv_400x400-100x100.jpg","caption":"Kelly Chan"},"description":"As well as leading Tech Shenzhen Advocates, Kelly is Head of Belgium at CENTI (China-Europe Networks of technology and Innovation).","sameAs":["https:\/\/www.linkedin.com\/in\/tik-yan-kelly-chan-42577b72\/?originalSubdomain=uk","https:\/\/twitter.com\/TechChinaAdv"],"url":"https:\/\/www.gtaconnects.org\/author\/kellychan\/"}]}},"_links":{"self":[{"href":"https:\/\/www.gtaconnects.org\/wp-json\/wp\/v2\/posts\/36"}],"collection":[{"href":"https:\/\/www.gtaconnects.org\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gtaconnects.org\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gtaconnects.org\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gtaconnects.org\/wp-json\/wp\/v2\/comments?post=36"}],"version-history":[{"count":4,"href":"https:\/\/www.gtaconnects.org\/wp-json\/wp\/v2\/posts\/36\/revisions"}],"predecessor-version":[{"id":169,"href":"https:\/\/www.gtaconnects.org\/wp-json\/wp\/v2\/posts\/36\/revisions\/169"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gtaconnects.org\/wp-json\/wp\/v2\/media\/18"}],"wp:attachment":[{"href":"https:\/\/www.gtaconnects.org\/wp-json\/wp\/v2\/media?parent=36"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gtaconnects.org\/wp-json\/wp\/v2\/categories?post=36"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}