In a Forbes column written by Rebecca Fannin, she pointed out that China is now going mainstream in terms of the technological innovation it advances.
Citing and agreeing with a New York Times headline, the article writes that "China, not Silicon Valley, is cutting edge in mobile."
Having landed on the main page of a major American newspaper, it is no doubt that China is making its way to a higher echelon of the technological world.
According to the New York Times report, Chinese tech brands such as WeChat and Alipay have revolutionized a new way of doing transactions in the country, such as using barcodes for purchases, food ordering and taxi hailing.
The video streaming services of YY has also popularized online video stars, making such social media sensations a common thing in the Eastern giant.
For the past years, China has not been appropriately acknowledged for its entrepreneurial mind when it comes to developing tech innovations. Not until U.S. tech powerhouses such as Facebook and Twitter started to look to China for ideas did the country emerge as a possible leader in the tech industry.
Fannin also shared that the subtitle of her Silicon Dragon book, published in 2008, "How China is Winning the Tech Race," can now be seen as more fitting for the country.
Arguing that "China has developed a home-grown, powered up version of the Valley," one could not simply ignore the winning formula the country has--"long entrepreneurial culture, large mobile and Internet markets, engineering talent, overseas returnees and venture capital."
The Forbes contributor took, for instance, the case of ride-sharing app Didi. The whopping $35 billion deal it worked out helped it take over Uber, a U.S.-based rival, as the leading app of such kind in the country.While locally,
China has already tapped its tech potentials, the country is now moving forward to go global and own the international tech arena," the article further wrote.