Here are all the contents related to China in the report of the Queen of Internet

On the morning of June 2, Mary Meeker, known as the "Queen of the Internet," released the 2016 Internet Trends report. As with previous reports in recent years, with the rapid development of China's Internet, the development of China's Internet industry has once again become a focus of the report. The report specifically includes content on the development of China's Internet provided by Hillhouse Capital. The report shows that in many ways, China has become a leader in the Internet.

1) Basic data about China

China's macroeconomic data

The report shows that the global growth engine has shifted over time. In 1985, two-thirds of the world's GDP growth came from North America, Europe and Japan. By 2015, China and emerging markets in Asia accounted for 63% of the world's GDP growth, compared with only 18% 30 years ago.

China's total capital flow is currently showing signs of slowing down, but overall, the total capital flow in the past six years is higher than in the previous 30 years.

Despite the current slowdown in investment in China, service-driven employment and income growth remain strong.

China’s services sector already accounts for 50% of GDP and 87% of GDP growth, with faster growth in services jobs offsetting job losses in construction, manufacturing and agriculture.

At the same time, the disposable income of China's urban population continues to grow at a steady pace.

China's Internet Data

The total number of Internet users in China has reached 688 million, a year-on-year increase of 6%, lower than the 7% in the previous year, but the report shows that the growth rate of Internet users in China was slowing down from 2008 to 2015.

In April 2016, netizens spent an average of 200 minutes per day on mobile Internet. China has three Internet giants, Tencent, Alibaba, and Baidu, and netizens spent 71% of their time on the products of these three companies, of which WeChat accounted for 35% and QQ accounted for 10%.

2) China's Internet industry has strong development momentum in these five areas

The strong growth points of China's Internet development mainly come from advertising, commerce, tourism, financial services, and on-demand services, and the development trends are often better than those in the United States.

Online Advertising

In 2015, online advertising spending accounted for 42% of total advertising spending in China, compared to 39% in the United States. In 2015, the growth rate of online advertising in China exceeded that of TV advertising for the first time, and in 2016, the report predicts that the gap between the growth rate of online advertising and TV advertising will further widen, and online advertising will continue to grab market share from TV, radio and print media advertising.

E-commerce

In 2015, among the top seven retailers in China by revenue, the first and second place were both e-commerce retailers, Alibaba and JD.com, respectively. Among the top seven retailers in the United States, only one e-commerce company, Amazon, ranked fifth.

Chinese e-commerce companies are increasing their share of the retail market faster than their U.S. counterparts. In 2015, Alibaba's share of China's overall retail revenue market exceeded 6%, and JD.com's share was close to 3%. In the U.S. retail market, Amazon, the No. 1 company, had a share of less than 3%, and eBay had a share of less than 1%.

China's e-commerce is showing an increasingly social development trend. Among all WeChat users surveyed, more than 31% of users conduct e-commerce shopping activities through WeChat.

Tourism

In the Chinese tourism industry, Ctrip has established a one-stop tourism service, including hotels, travel tickets, destination guides, food, shopping, insurance, etc. Chinese have become the world's largest group of outbound tourists, and they are also the country with the highest outbound tourism spending in 2014.

Financial Services

China's smartphone-based online payments have a high penetration rate. In terms of the estimated monthly payment transactions of users, WeChat Pay exceeds 50 times, higher than the US debit card more than 20 times and Alipay more than 10 times.

Between 2014 and 2016, Chinese users sent WeChat red envelopes on New Year’s Eve, with a total amount reaching 8 billion times. The total number of times in 2016 increased eightfold compared to 2015.

Meanwhile, Ant Financial (valued at $60 billion) has built a one-stop Chinese financial services business using the scale of Alibaba Group’s Alipay service. In 2015, the payment package had more than 450 million users and total transactions of more than $1 trillion.

On-demand services

China has become a global leader in on-demand services.

Especially in the field of transportation, the annual number of on-demand transportation services has reached more than 4 billion times, a four-fold increase year-on-year, accounting for 70% of the global market, and the growth rate of on-demand transportation services in Chinese cities is also the fastest in the world.

3) The development of these industries in China is also included in the report

Baidu Speech Recognition from Baidu

When introducing new technology trends, the report mentioned Baidu's Baidu Voice in the part about voice recognition that reshapes the human-computer interface. Given that it is more difficult to input Chinese characters than English on smaller smartphones, the growth rate of Baidu's voice recognition products continues to rise.

From 2014 to 2016, the daily usage of global API calls for Baidu Speech Recognition and Baidu Text-to-Speech (TTS) continued to increase.

China's future automotive industry

The report mentioned the attitudes of various parts of the world towards the future of the automotive industry. The Morgan Stanley Automotive and Shared Mobility Research Report showed:

China's attitude towards the future of the automotive industry is that the government is paying attention to the development of technology and the environmental problems brought about by the industry.

In addition, the high quality of ride-sharing companies (especially Didi Kuaidi) has promoted the early application of shared travel. However, the rush to invest in public transportation and the impact of cars on social status may hinder the full popularization of the shared travel industry.

4) These Chinese companies are also mentioned in the report

As a leader in the global Internet market, China has 7 of the top 20 Internet companies in the world.

5. Tencent ($206 billion)

6. Alibaba ($205 billion)

No. 7: Baidu ($62 billion)

10th: Ant Financial ($60 billion)

No. 12: Xiaomi Technology (US$46 billion)

No. 16: JD.com (US$34 billion)

20th place: Didi Kuaidi ($25 billion)