China is way ahead of Europe when it comes to its digital transformation, says Zhejiang University professor Mark Greeven, author of Business Ecosystems in China: Alibaba and Competing Baidu, Tencent, Xiaomi and LeEco to the NRC. Europe is way over-regulated compared to China, he says, and companies get in China much more leeway to experiment.
China is more innovative than most people think. Europe is over-regulated while China is one large experimentation group for new companies, technologies and innovations. One of those areas of interest is digital technology, in particular digital payment. Despite – or because? – a centrally led economy, entrepreneurs are the digital innovators.
We have seen nothing yet: Malong Tech’s artificial intelligence, Lens Technology’s leading thin glass, Mobike’s bike sharing, Hikvision’s global market leadership in security technology and Zongmu Tech’s technology for autonomous driving. The list is long and expanding.
Are you looking for more experts on China’s digital transition at the China Speakers Bureau? Do check out this list.