How Tencent and Alibaba is shaping the modern Chinese Economy

[Wildreamz]

China's Great Leap to Wallet-Free Living | Moving Upstream
Wall Street Journal
Published on 18 Jan 2018


Angela Wang: How China is changing the future of shopping
October 2017 at TED@BCG Milan
https://www.ted.com/talks/angela_wang_ho...f_shopping

China is a huge laboratory of innovation, says retail expert Angela Wang, and in this lab, everything takes place on people's phones. Five hundred million Chinese consumers -- the equivalent of the combined populations of the US, UK and Germany -- regularly make purchases via mobile platforms, even in brick-and-mortar stores. What will this transformation mean for the future of shopping? Learn more about the new business-as-usual, where everything is ultra-convenient, ultra-flexible and ultra-social.

[Wildreamz]

https://www.techinasia.com/china-governm...ng-digital
China leans on Alibaba and Tencent to digitize public services
Rita Liao
5:10 PM at Jan 25, 2018

On January 15, a public hearing took place in the southern Chinese metropolis of Shenzhen. Instead of having to jump through the usual bureaucratic hoops, participants dialed in virtually – via China’s most popular social app, WeChat. In the past, they would have to submit a signup form via email or in person, wait a few days for approval, and then turn up in person at the designated venue on the day of the hearing.

---

My prediction: In the next 5-10 years, Alibaba and Tencent would collectively own about 70% of Chinese IT sector, serving the function traditionally served by traditional tech companies like Oracle, SAP, IBM, Microsoft, Amazon, eBay, Facebook, Google etc. They would also increasingly encroach other sectors, such as Financial Services, Media, Digital Entertainment and Retail etc. and serve the function of a Bank, Paypal, Visa, Master, Disney, Netflix, Walmart etc.

The government either has to respond by imposing stricter regulations (eg. on online time spend), user data collection, getting more board seats to influence company decisions, or break them up on basis of Anti-Trust Law.

My 2c.

(vested in both)