China is one of the foremost nations embracing a fully connected society. In many major Chinese cities, sensor-filled machines that accept digital payments and support public data-collection are commonplace. Such technologies are found in supermarkets, malls, and even on sidewalks — Chinese panhandlers have notably used the WeChat platform to collect donations from passersby. Already, China’s mobile payments market is nearly 50 times that of the U.S.’s.
China represents a significant investment opportunity for breakthrough innovations in digital industriesData from late 2017 suggests that increased digitization may lead to a shift of 10 to 45 percent of industry revenue pools in China by 2030. This shift has particular implications for key sectors like consumer and retail, automotive and mobility, health care, and freight and logistics. Read more…
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