How China the copycat became a tech giant to rival the US

Once regarded as backward and undeveloped, China has overseen an economic and technological rise that the White House now sees as an existential challenge.

In 2015, Beijing announced the Made in China 2025 strategy to turn China from being the world’s main factory for manufactured goods into a high-tech powerhouse. Shenzhen, once a sleepy fishing village and the poster child for China’s opening up, recently became the first city in the world to have a 100 per cent electric bus fleet, despite coming late in the day.

While electric buses cost about twice as much as normal ones up front, the local and central governments have provided more than eight billion yuan a year in subsidies. It is little surprise that China is still the world’s largest market for electric vehicles. Shanghai, Beijing and Hangzhou are among more than 30 Chinese cities aiming for 100 per cent electric bus fleets by next year.China also wants to be a world leader in AI, with the government pouring billions of dollars into AI research and applications.

“With the voice-recognition technology, it’s easy. We just tell Xiaodu what to do,” he said. “Xiaodu can also adjust the room temperature and put on music.” This robot is being developed with the backing of universities in Switzerland, Britain and China as well as Chinese e-commerce giant Alibaba. But its supply chain, from people to parts, is rooted in China.Company founder Liu Zhiyong, who went overseas to study, is one of a growing number of Chinese tech workers who have returned home.

More than just a coffee establishment, his cafe connects angel investors and venture capitalists to Chinese entrepreneurs working on start-ups and looking for a meeting place. But while China’s tech ecosystem is full of talented and motivated people, it still lags behind the US in diversity, where an estimated 70 per cent of Silicon Valley tech workers are foreign-born.

Source: Energy Industry News (energyindustrynews.net)

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