20381114 - the street scene of xian,bell tower in the center of ancient city,china
Editor’s note: This is reposted with permission fromEdith Yeung, a General Partner at 500 Mobile Collective Microfund primarily focusing on investing in mobile, VR, AR, IoT, and consumer internet startups. It originally appeared on her website.
Last month, my brother and I were hanging out in Tuanjiehu district in Beijing where our grandfather used to live. After finished paying up for our lunch bill using WeChat Pay (the owner convinced us not to use credit card as it would cost him high fees), I called a Didi (Uber of China) and headed to our friend’s house to watch various live streaming shows on YY and 6.cn (founded by my brother). After a few hours of socializing, we decided to head home by grabbing a couple of ofo bikes we found on the street.
As I was biking my yellow bike across town, I realized how much Chinese lives have changed by all the ‘Made-in-China’ innovations: from messaging, mobile payment, bike sharing to live streaming. I am truly inspired by the new generation of Chinese innovations, entrepreneurs, and energy. And this is why I decided to write this China internet report.
This report hopefully serves as a guide for you (investors, founders, and executives) of China internet landscape and trends. Drawing from my own experience, hundreds of hours of research and interviews with entrepreneurs and investors friends, I am honored to present this report of China innovations.
China no longer needs to “borrow ideas” from America but can create new innovations of her own.
Hope you enjoy reading it as much I enjoyed writing it.
Special thanks to everyone who helped and contributed to report: Wai Lin Liao, Bonnie Cheung, Chris McCann, Jane Wu, Xu Tao, Peng Ong, Jianfeng Lu, Tony Zhao Bin, Alan Chan, Greg Kidd, Dave McClure, Xiaolong Yang, and the 500 Team.