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China World’s Most Technologically Advanced Nations

China also the most number of supercomputers—227 out of the Top 500.

 

Other Chinese tech giants include DJI (world’s largest drone maker with 70% market share),BOE (world’s largest flat-panel display maker), Didi (world’s largest and most valuable ride-sharing company) and BYD (world’s largest plug-in vehicle maker—including both BEV and PHEV) China also the most number of supercomputers—227 out of the Top 500 (as of 2019).

It is the world’s largest e-commerce market, amounting to 42% of the global market by 2016 and is expected to account for 55% of global e-commerce retail sales in 2019 (more than three times as large as the US market). China’s e-commerce market had online sales of more than $1 trillion in 2018, according to PWC and is expected to be just under $2 trillion in 2019.China’s e-commerce industry took off in 2009, marked by the growth of internet giants Tencent and Alibaba – purveyors of products such as WeChat and Tmall – that have become ubiquitous in contemporary Chinese life. Tencent’s WeChat Pay and Alibaba’s Ali Pay have helped China become a world leader in mobile payments, which amounted to about $30 trillion in China in 2017 and more than $40 trillion in 2018.

largest hydroelectric dam in the world image

The Three Gorges Dam on the Yangtze River, China.

China is also second only to the United States in venture capital activity and is home to a large number of unicorn startup companies. In 2018, China attracted $105 billion of venture capital investments, amounting to 38% of global VC investments that year. In late 2018, the world’s most valuable startup was ByteDance, a Chinese company and the two most valuable artificial intelligence (AI) startups in the world were SenseTime and Face++, both from China. In 2017, China’s State Council released its Artificial Intelligence Development Plan, which declared AI technology a priority economic growth and investment sector. In 2018, China created 97 “unicorns” – startups that are worth more than $1 billion – which amounted to 1 unicorn every 3.8 days. Chinese smartphone brands – Huawei, Xiaomi, Oppo, Vivo, OnePlus etc. – have captured more than 40% of the global market. By 2019, Huawei had become the world’s largest telecom infrastructure provider, surpassing Nokia and Ericsson, and had taken the lead in 5G technology. The company also entered the consumer smartphone and enterprise services markets, and is the world’s third-largest smartphone company, after Apple and Samsung.

China is also the world leader in patents, accounting for 1.54 million patents or almost half of all global patents in 2018. China’s spending on R&D has been growing rapidly in the last decade, amounting to $277 billion in 2017.

Economic And Growth

Chinese leadership began to reform the economy and move towards a more market-oriented mixed economy under one-party rule. Agricultural collectivization was dismantled and farmlands privatized, while foreign trade became a major new focus, leading to the creation of Special Economic Zones (SEZs). Inefficient state-owned enterprises (SOEs) were restructured and unprofitable ones were closed outright, resulting in massive job losses. Modern-day China is mainly characterized as having a market economy based on private property ownership, and is one of the leading examples of state capitalism.The state still dominates in strategic “pillar” sectors such as energy production and heavy industries, but private enterprise has expanded enormously, with around 30 million private businesses recorded in 2008. In 2018, private enterprises in China accounted for 60% of GDP, 80% of urban employment and 90% of new jobs

Shanghai Stock Exchange image

Shanghai Stock Exchange image wikipedia.

China ranks No. 1 in the production of steel, aluminum and automobiles—China’s global market shares are 50% in steel, 50% in aluminum and 30% in automobile manufacturing. China has also been increasingly turning to automation, becoming the world’s largest market for industrial robots in 2013. Between 2010 and 2015, China installed 90,000 industrial robots, or one-third of the world’s total. In 2017, China bought 36% of all the new industrial robots in the world. China’s plan is to also domestically design and manufacture 100,000 industrial robots by 2020. However, the Chinese economy is highly energy-intensive and inefficient China became the world’s largest energy consumer in 2010, relies on coal to supply over 70% of its energy needs, and surpassed the US to become the world’s largest oil importer in 2013.

 

In the last decade, China has become #1 in the world in terms of installed solar power capacity, hydro-power and wind power. According to the World Economic Forum, China will account for 40% of the global renewable energy by 2022. In addition, official GDP figures are seen as unreliable and there have been several well-publicized cases of data manipulation. In the early 2010s, China’s economic growth rate began to slow amid domestic credit troubles, weakening international demand for Chinese exports and fragility in the global economy. China’s GDP was smaller than Germany’s in 2007; however, by 2017, China’s $12.2 trillion-economy became larger than those of Germany, UK, France and Italy combined.In 2018, the IMF reiterated its forecast that China will overtake the US in terms of nominal GDP by the year 2030. Economists also expect China’s middle class to expand to 600 million people by 2025.

 

Tourism is a major contributor to the economy. In 2017, this sector contributed about CNY 8.77 trillion (US$1.35 trillion), 11.04% of the GDP, and contributed direct and indirect employment of up to 28.25 million people. There were 139.48 million inbound trips and five billion domestic trips. China is now No. 1 in the number of skyscrapers (buildings taller than 200m), accounting for about 50% of world’s total. In four years—2015 through 2018—China built 310 skyscrapers, while the corresponding number for the US was 33.

Telecommunications

As of early 2019, the average mobile connection speed in China was 30 Mbit/s (megabits per second), which is 9% slower than the US.As for fixed broadband in China, the average download speed was 76 Mbit/s and 60% of fixed broadband Chinese users (or 200 million Chinese households) were able to access the Internet at 100 Mbit/s or higher (as of 2018). China is making rapid progress in 1 Gbit/s (1000 Mbit/s) internet, and 42% of Chinese homes are expected to have 1 Gbit/s broadband link by 2023. In 2018, China had 378 million fixed broadband users and 87% of them were fiber-optic users, making China No. 1 in the world in deployment of fiber-optic cables for broadband. By the end of 2017, China had 29 million kilometers of fiber-optic cable. In 2019, China is expected to account for 24% of the world’s spending on IoT or internet-connected devices. Since 2011 China has been the nation with the most installed telecommunication bandwidth in the world. By 2014, China hosted more than twice as much national bandwidth potential than the U.S., the historical leader in terms of installed telecommunication bandwidth (China: 29% versus US:13% of the global total). China is making rapid advances in 5G—by late 2018, China had started large-scale and commercial 5G trials. In early 2019, Shanghai railway station introduced 5G WiFi that has an internet speed of 1,200 Mbit/s.

China Mobile, China Unicom and China Telecom, are the three large providers of mobile and internet in China. China Telecom alone served more than 145 million broadband subscribers and 300 million mobile users China Unicom had about 300 million subscribers and China Mobile, the biggest of them all, had 925 million users, as of 2018. Combined, the three operators had over 3.4 million 4G base-stations in China.Several Chinese telecommunications companies, most notably Huawei and ZTE, have been accused of spying for the Chinese military. British intelligence—GCHQ and NCSC—said in 2019 that there have been no evidence of malicious activity or spying by Huawei.

Panoramiv view of Deepwater Port Yangshan

Panoramiv view of Deepwater Port Yangshan image wikipedia.

Sport in China at the Olympics

Physical fitness is widely emphasized in Chinese culture, with morning exercises such as qigong and t’ai chi ch’uan widely practiced, and commercial gyms and private fitness clubs are gaining popularity across the country. Basketball is currently the most popular spectator sport in China. The Chinese Basketball Association and the American National Basketball Association have a huge following among the people, with native or ethnic Chinese players such as Yao Ming and Yi Jianlian held in high esteem. China’s professional football league, now known as Chinese Super League, was established in 1994, it is the largest football market in Asia. Other popular sports in the country include martial arts, table tennis, badminton, swimming and snooker. Board games such as go (known as wéiqí in Chinese), xiangqi, mahjong, and more recently chess, are also played at a professional level. In addition, China is home to a huge number of cyclists, with an estimated 470 million bicycles as of 2012.Many more traditional sports, such as dragon boat racing, Mongolian-style wrestling and horse racing are also popular.

China has participated in the Olympic Games since 1932, although it has only participated as the PRC since 1952. China hosted the 2008 Summer Olympics in Beijing, where its athletes received 51 gold medals – the highest number of gold medals of any participating nation that year. China also won the most medals of any nation at the 2012 Summer Paralympics, with 231 overall, including 95 gold medals. In 2011, Shenzhen in Guangdong, China hosted the 2011 Summer Universiade. China hosted the 2013 East Asian Games in Tianjin and the 2014 Summer Youth Olympics in Nanjing the first country to host both regular and Youth Olympics. Beijing and its nearby city Zhangjiakou of Hebei province will also collaboratively host the 2022 Olympic Winter Games, which will make Beijing the first city in the world to hold both the Summer Olympics and the Winter Olympics.
prime sports destination worldwide. The country gained the hosting rights for several major global sports tournaments including the 2008 Summer Olympics, the 2015 World Championships in Athletics, the 2019 FIBA Basketball World Cup and the upcoming 2022 Winter Olympics.

China has one of the oldest sporting cultures in the world. There is evidence that archery (shèjiàn) was practiced during the Western Zhou dynasty. Swordplay (jiànshù) and cuju, a sport loosely related to association football date back to China’s early dynasties as well.

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