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McKinsey & Company issued a report: China's digital economy to lead the new global trend

  • Author:www.boreway.com
  • Source:正在等待翻译……
  • Release on:2017-09-27
China's position in the world's digital are becoming more prominent, which shows that China can participate more even in leading global governance and make further contributions to the challenges of international competition, mutual benefit and digital sovereignty.
"China has the world's largest e-commerce market," China has become the world's largest e-commerce market, China has become the world's largest e-commerce market, China has become the world's largest e-commerce market, China has become the world's largest e-commerce market, China has become the world's largest e-commerce market, China has become the world's largest e-commerce market, China has become the world's largest e-commerce market, China has become the world's largest e-commerce market, China has become the world's largest e-commerce market The global digitalization of the important force, the process of digital globalization in the ascendant, from the industrial investment, business model and global governance and other fields to lead the global trend.
The report said that China has the world's most active digital investment and entrepreneurial ecosystem. China has the world's largest e-commerce market, accounting for more than 40% of the global electricity business transactions, the proportion of 10 years ago, less than 1%. It is estimated that China's electricity business turnover is now more than Britain, the United States, Japan, France, Germany, the sum of five countries. China's third-party mobile payment transactions related to personal consumption are equivalent to 11 times that of the United States. One-third of the world's "Unicorn" companies (valued at more than $ 1 billion of non-listed start-up companies) for the Chinese enterprises.
At the same time, China in a number of areas of venture capital scale are ranked the top three in the world. In 2016, China's venture capital investment in the field of financial technology ranked first in the world, the scale is basically ranked with two or three US and British investment balance; virtual reality, automatic driving, wearable equipment, educational technology, Automotive and 3D printing in the field of venture capital ranked second in the world; large data areas, artificial intelligence and machine learning field investment ranked third in the world.
The McKinsey report argues that the drivers and prospects of China's digital economy development should be understood from the following three factors:
First, the Chinese market is bulky, with a considerable number of young Internet users, for the digital business model quickly put into business to create the conditions. China's huge Internet user base is conducive to digital enterprises continue to test the water, but also help its rapid economies of scale. In 2016, China's Internet users reached 731 million, more than the sum of the EU and the United States Internet users.
Second, China's Internet Big Three (Baidu, Alibaba and Tencent) to establish a rich digital ecosystem is now constantly expanding the extension. In 2016, the three giants to provide venture capital accounted for 42% of China's total venture capital, the same year by the facebook, Amazon, Google and the company composed of the United States Internet giant four giants in the US venture market contribution rate of 5%. In contrast, China's Big Three in promoting the development of its digital industry is particularly significant contribution.
Thirdly, the openness of the Chinese government to digital enterprises and institutions has made it an active promoter of digital development. Policymakers' past regulation of digitized firms is often "slowing down" so that these companies can boldly test the water and expand the scale. As the market matures, the government is increasingly taking the initiative to strengthen regulation, trying to create a more healthy digital development environment, but also to investors, developers and consumers to actively support the role.
In the above three factors together to promote, China's digital development continue to make new progress. This also means that China's role in the world stage is increasingly eye-catching, the impact on the global economy has gradually expanded. "China's digital development prospects are much broader than many viewers think," said Cheng Ching Min, vice president of the McKinsey Global Research Institute.
The report argues that over the past few decades China has become an integral part of the world economy under the role of the global value chain. The future of the world will be the era of digital globalization, China's venture capital enterprises in overseas investment market performance increasingly active.

At the same time, China's first application of a variety of digital business model has now been popular in the world, from the non-pile shared bicycle to the video social network and so on. More and more Chinese companies are expanding their global business through mergers and acquisitions, expanding business models and providing technology, which may mean that China is coming to the forefront of global digital development.
"China has become a recognized digital country in the world as a major investor in digital technology and a leading country in which such technology is applied," said Huaqiang Sen, a global senior director of McKinsey & Company, a senior partner at McKinsey & Company. China is rewriting the pattern of global digitalization and providing support and inspiration for overseas start-up companies.China's digital globalization process is in the ascendant, local technology giants are well-capitalized and digital ecosystems are increasingly rich, and are likely to become Leading the power of global digital development.[{1}]