Читать книгу The Digital War - Winston Ma - Страница 18

Chapter 2 explains the evolution of mobile internet businesses in China during the past years. In addition to the unrivalled internet user population size, what also makes the China market unique is the fact that China is the largest “mobile first” and “mobile only” market in the world. One extraordinary example is Singles' Day (a Chinese holiday on November 11, now the world's largest shopping day), which in 2019 had more than US$38 billion GMV in 24 hours, connecting buyers and sellers from more than 200 countries across the world—with more than 90% transacted from mobile terminals.

Still, China's mobile internet market shows no sign of slowing down in innovation, and the competition between the leading giants and the hungry upcomers is ever fierce. The mobile infrastructure, corresponding data accumulation, and industries digitalizing their businesses along the way, collectively provide a powerful foundation for China's AI innovation and digital transformation today.