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China's Mobile Economy

China's Mobile Economy

Winston Ma
2016
T4 368 pages · about 6h 8m to read Open Librarygoodreads

Payments and mobile commerce structure behind Alipay and Taobao.

Summary

The reference has not verified this book in detail; the summary states only what the title, author and subject establish.

Ma, formerly a managing director at China Investment Corporation, wrote about the mobile internet economy in China as it stood around 2015 and 2016. The book covers the growth of mobile commerce, mobile payments, online-to-offline services, social networks and the investment activity around them.

The reference has not verified the book's specific contents in detail. What the author and period establish is the subject: the Chinese internet's mobile-first character, the fact that a large share of Chinese users came online through smartphones without a prior desktop internet stage, the resulting dominance of super-application platforms combining messaging, payments and services, and the scale of consumption by younger cohorts. Ma covers the major platforms of the period, the venture and corporate investment flows, and the government's policy positions on internet development.

Books written about the Chinese technology sector in this period have aged in a specific way. The 2015 to 2016 moment was one of rapid expansion, abundant capital and light regulation. The regulatory intervention beginning in late 2020, which halted the Ant Group listing and imposed restrictions on platform companies, education technology and gaming, changed the sector's economics substantially. Readers should treat the book as a description of a period rather than as analysis that carries forward.

Key takeaways 6

  1. A large share of Chinese internet users came online through mobile devices without passing through a desktop internet stage.
  2. Mobile payment adoption in China proceeded faster and further than in Western markets, bypassing card infrastructure.
  3. Super-applications combining messaging, payment and services became the dominant form, unlike the separate-application pattern elsewhere.
  4. Online-to-offline services connecting internet platforms to physical local commerce grew rapidly in this period.
  5. Corporate investment by the largest platform companies, rather than independent venture capital alone, shaped which startups scaled.
  6. Younger Chinese consumer cohorts drove consumption growth in categories that older cohorts did not participate in.

Who should read it

Readers researching the Chinese mobile internet of the mid-2010s, who should treat it as a period snapshot rather than a current account.

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Where it sits in the reference 3

Alibaba
Companies
Payments and Fintech
Industries
Asian economies
Economics

Topics

Technology and ComputingEconomicsInvestingCrypto and financial technology