China Is on Its Way to Being the Next Tech Superpower
Share
My recent trip to Beijing and Shanghai has me convinced China is the next technological superpower.
This blog lays out the data so you can make your own judgment.
China is the world’s second-largest economy with a GDP of $7.5 trillion, and an average 9.71 percent annual GDP growth (since 1990).
Check out Shanghai in 1990 (27 years ago) versus Shanghai today.
Shanghai 1990
Shanghai today
Recently, China is getting into the venture capital business in a big way. A really, really big way. Venture capital raised in China tripled year over year to $250+ billion in 2016. That’s the biggest pot of money for startups in the world.
Consequently, China is undergoing a technological renaissance with thousands of startups and dozens of multi-billion-dollar tech companies springing up.
Companies like Alibaba, Tencent and Xiaomi are capitalizing on China’s 700+ million Internet users.
A Chinese delivery company, ZTO Express, raised $1.4 billion in its public debut. This was the biggest US IPO of the year (in 2016).
China is a manufacturing powerhouse producing 25 percent of the world's goods and 70 percent of its mobile phones.
Today there is a list of 600+ Chinese companies waiting to go public.
Be Part of the Future
Sign up for SingularityHub's weekly briefing to receive top stories about groundbreaking technologies and visionary thinkers.
Let’s talk about manufacturing. 100 million people in China work in manufacturing. FOXCONN is the world’s largest contract electronics manufacturer. Notable customers include Apple, Kindle, Playstation and Xbox.
In 2015, China became the world’s largest producer of photovoltaic power. China also led the world in production and use of wind power and smart grid technologies.
China owns 70 percent of the commercial drone market. They have also increased their space budget considerably over the last few years. And their human spaceflight program is very serious.
China has truly become an international technology superpower.
Join Me
Abundance Digital Online Community: I’ve created a digital/online community of bold, abundance-minded entrepreneurs called Abundance Digital.
Abundance Digital is my ‘onramp’ for exponential entrepreneurs — those who want to get involved and play at a higher level. Click here to learn more.
Image Credit: Peter Diamandis via YouTube
Diamandis is the founder and executive chairman of the XPRIZE Foundation, which leads the world in designing and operating large-scale incentive competitions. He is also the executive founder and director of Singularity University, a global learning and innovation community using exponential technologies to tackle the world’s biggest challenges and build a better future for all. As an entrepreneur, Diamandis has started over 20 companies in the areas of longevity, space, venture capital, and education. He is also co-founder of BOLD Capital Partners, a venture fund with $250M investing in exponential technologies. Diamandis is a New York Times Bestselling author of two books: Abundance and BOLD. He earned degrees in molecular genetics and aerospace engineering from MIT and holds an MD from Harvard Medical School. Peter’s favorite saying is “the best way to predict the future is to create it yourself.”
Related Articles
Inside VillageOS: A ‘SimCity’-Like Tool for Regenerative Living Spaces
Is 2025 the Year AI Agents Take Over? Industry Bets Billions on AI’s Killer App
Automated Cyborg Cockroach Factory Could Churn Out a Bug a Minute for Search and Rescue
Inside VillageOS: A ‘SimCity’-Like Tool for Regenerative Living Spaces
Is 2025 the Year AI Agents Take Over? Industry Bets Billions on AI’s Killer App
Automated Cyborg Cockroach Factory Could Churn Out a Bug a Minute for Search and Rescue
What we’re reading