The size of China’s digital economy in 2016
The share of China’s digital economy in its national GDP
Estimated number of smartphone users in China over 2017
People with internet access in China at 2017 year end
Growth in Artificial Intelligence, social advertising and internet finance over the past three years
Ways to make money for Chinese internet companies:
WeChat’s monthly active users
Revenue of China’s online gaming market over 2017, up 31.6% from 2016
The Chinese internet industry is growing explosively. The transition of China’s economy towards a more consumption- and service-led growth model is providing a strong tailwind, with consumers, especially young people living in Tier 1 and 2 cities, shifting from offline to online consumption and disposable income rising across the country.
Many Chinese internet sectors are dominated by industry leaders such as Baidu, Alibaba, and Tencent. They are expanding quickly by building whole networks of related services that make them almost indispensable in daily life. An example is Tencent’s WeChat app, which allows users to book doctor’s appointments, order groceries, pay bills and much more.