True dominance of China's Baidu, Alibaba and Tencent revealed – and how their influence extends worldwide

July 10, 2018
Industry News
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Iris Deng
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China Internet Report offers insights into country’s internet landscape, including its unicorns, top internet companies, and most active investors

China’s internet giants are competing with each other on multiple fronts either by nurturing their in-house products and services, or by investing in external players for access to technology and users in artificial intelligence, e-commerce, and media and content, according to a report by the South China Morning Post in conjunction with a US venture capital firm.

The China Internet Report, launched at Hong Kong’s RISE conference on Tuesday, also highlights the role of Chinese internet companies in empowering the country’s next wave of development in rural areas, where around 490,000 online shops are run by rural households, and 55 million rural students are connected to live-streaming classes.

Meanwhile, the US-China trade dispute loomed large at the opening of the RISE conference itself, as major hi-tech companies, start-ups and various industry experts discussed developments in blockchain, artificial intelligence, the internet, e-commerce and other related fields. While Hong Kong is more than 13,000 kilometres away from Washington, recent policy decisions made by the administration of US President Donald Trump hit close to home for a number of conference participants.

“We should all realise that we benefit so much from the openness of the vast technology community,” said Wayne Xu, the president of ZhongAn Information Technology Service, a subsidiary of Hong Kong-listed ZhongAn Online Property & Casualty Insurance. “If barriers are put up today, it will destroy what we have achieved,” said Xu at the conference.

The China Internet Report was jointly published by the Post, its tech news site Abacusand the US venture capital firm 500 Startups. Other key trends discussed include the embrace of the Social+ business model by Chinese internet companies, and the government’s hand in the development of the country’s internet industry. Continue Reading

About South China Morning Post 

South China Morning Post is a leading global news company that has reported on China and Asia for more than a century. Founded in 1903, SCMP is headquartered in Hong Kong, where it is the city’s newspaper of record, with a growing correspondent staff across Asia and the United States.Its editorial teams are powered by emerging digital technologies to create innovative ways to tell Asia’s most important and compelling stories.

Against the backdrop of shifting discovery and consumption behaviours, SCMP reaches users across distributed media platforms including scmp.com, smartphone and tablet apps, social media and messaging platforms, as well as our flagship newspaper.  SCMP is also home to Abacus, a digital news brand focused on China's tech industry; and Inkstone, a daily news brief for those curious about China's growing impact around the world.
 

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