US media: China will become a global leader in technology

With Alibaba's IPO, more and more eyes are on Chinese technology companies. As China grows, so too is the country's technology industry changing. With the booming mobile culture, the increasingly active economy, and the influx of funds from domestic and overseas investors, China is now in a "golden age" for entrepreneurship. Venture capital expert Li Shimo believes that China is in an extremely innovative period, and he even bets that five years from now, the world's most valuable and second most valuable companies will be Chinese technology companies.

In recent years, as the economy develops, China is not only satisfied with being an electronic processing factory, but has also been laying the foundation for becoming an innovative science and technology power. In order to promote the development of high-tech clusters across the country, the government has given subsidies, and university-affiliated and independent laboratories are also constantly strengthening the training of young entrepreneurial talents. Now, these efforts are paying off. According to the latest report from PricewaterhouseCoopers, in the second quarter, there were 214 investment transactions at home and abroad in China's fast-growing telecommunications, media and technology companies, with a total investment of US$5.35 billion. In contrast, companies in the industry only received US$752 million in investment last year. "Today, private equity and venture capital are developing in China's telecommunications, media and technology sectors."

There are several reasons for the boom in China's tech sector. First, the cost of starting a tech company has fallen, thanks to the widespread availability and affordability of services such as cloud computing. It now takes much less money to build a tech company than in the past.

In addition, industry insiders also said that the development of the Internet-centric smartphone industry is also one of the reasons. Although some Chinese families have never owned personal computers, with the development of the economy, they can now directly own smart devices. The number of Internet users in China is astonishing. By the end of 2013, China's Internet users reached 618 million, 250 million more than the United States. In 2014, China's smartphone users are expected to exceed 500 million. This makes Web-based businesses extremely attractive, and the popularity of China's Internet giants Baidu , Alibaba and Tencent has skyrocketed.

In order to encourage college graduates to start their own businesses, IDG established a $100 million fund three months ago, which is mainly aimed at entrepreneurs born after 1990. In addition, technology companies have also taken action. Xu Yuncheng, strategic director of IBM Greater China, said that the company has donated to 100 Chinese universities to promote the development of technology-related education, and is actively looking for emerging companies to provide them with funds and cooperate with them. She said: "Today, everyone may be a candidate for a partner. This is not only about venture capital, but also about the growth and cultivation of start-ups."

As opportunities increase, overseas students are more willing to return to China to start companies. Xu Jia, who graduated from Harvard Business School, founded Green Apple Health in Shanghai after graduation. Its mobile service provides appointments and prescription arrangements for doctors and patients. The application quickly obtained funding and was successfully promoted. Xu Jia said: "This is the best time to start a business. The mobile health field is very active and venture capitalists are paying close attention to it." Industry observers predict that China will have more high-tech companies than the United States in the future.

Industry insiders said that although China's technology companies are currently mainly focused on domestic development, overseas markets have a strong appeal. As time goes by, many companies will begin to step up global expansion in the next decade. At the same time, he also analyzed and predicted that with Alibaba and Sina Weibo listed in the United States, more and more Chinese companies will be listed overseas.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.