2. Emerging Technology Superpower
The seemingly frenetic activity around China’s emergence as a tech superpower is likely to continue into the Year of the Dog. E-commerce in China is already roughly double that of the U.S., with China being by far the biggest global market.
Mobile payments in China are 11 times that of the U.S. ($790 billion versus $74 billion in 2016). Meituan Dianping is the world’s largest online-to-offline (O2O) platform, which in 2016 sold $35 billion of services such as restaurant and cinema bookings, and food delivery to over 200 million customers. Didi Chuxing, the Uber of China, is actually five to six times the size of its American counterpart in its own domestic market, given the huge size of the Chinese domestic market.
