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Atlas China Top 8 #20 - Running Up the Score

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China's innovation ecosystem seems to be firing on all cylinders. Record-setting investments, nationa
 

Atlas China Top 8

July 23 · Issue #20 · View online
China + global technology, business, and innovation trends, 8 items at a time.

China’s innovation ecosystem seems to be firing on all cylinders. Record-setting investments, national champions expanding, and new firms rising:  
–More VC money was invested in China than Silicon Valley during Q2, a historical milestone reflecting China’s ambition to become a “global innovation powerhouse” and the expanding footprints of BAT companies
–Alibaba and Tencent stay at the vanguard of China tech. Here’s a Fortune longform on the Ali/Tencent rivalry, Economist on US-China competition in emerging markets, and Charlie Liu on the development of AliPay and WeChat Pay.  
–Is WeChat “squandering its lead” by focusing on serving Chinese outbound travelers and places with large overseas Chinese communities, or running up the score?
–Paul Mozur shares an interesting dispatch in NYT detailing the sometimes irrational exuberance around new technologies in China, but the potential is huge if even only a bit of the experimentation pays off.    
–GGV Capital partner Jenny Lee shares insights into the rise of new China tech companies designed to appeal beyond the cosmopolitan elite, like Kuaishou, Bytedance and Pinduoduo. 
–Congratulations to Xiaomi on their recent IPO in HK – check out this Quartz explainer to see why Xiaomi is a company to watch, and hard to parallel in the Western tech world.  
–Ell Zaagman presents a tour of China’s rising second tier city tech hubs, which I expect are still in the early days of becoming specialized Silicon Valleys for different industries. 
–And this week in leading indicators: I find the symbolism of this BBC feature, Why Europe’s astronauts are learning Chinese, too compelling to pass up. 
Thanks everyone who came out to WeChat for the Personal Power User - round 2 in Shanghai coming up soon! 
Abe

Bonus infographic that’s been making the rounds - the top 20 tech companies are all US or China, no Europe - and Chinese companies gaining on the US giants … 
Who writes this newsletter?
Atlas China helps SMEs and multinationals in China find talent and grow revenues through recruitment, events, and strategy. Contact Abe Sorock.
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