9 Chinese Companies Made It onto Mary Meeker’s Internet Trends Report
Mary Meeker published the 23rd edition of the annual “Internet Trends Report” on May 31, predicting that China and US will both lead the world’s AI technology in five years.
SEE ALSO: Chinese Unicorns: Internet Companies Take a Dominant Position.
A partner at the well-known venture capital firm Kleiner Perkins Caufield & Byersa, Mary Meeker was the leading analyst of the internet sector at Morgan Stanley during the dot come era.
In her report, she said that among today’s top 20 global internet leaders (ranked by market value), 11 of them are from the U.S. and 9 from China. Alibaba Group ranks 6th, which is the highest ranking Chinese company in the list, with Tencent and Baidu ranking 7th and 13th respectively.
The other Chinese companies on the list are the internet unicorns Ant Financial, Xiaomi, JD.com, Didi Chuxing, Meituan-Dianping and Toutiao. This marks great progress from 5 year ago when only Tencent and Baidu were among the top 20.
The report refers to Alibaba as the most comprehensive e-commerce ecosystem that combines logistics, payment and financial services, marketing services and data management platform as well as cloud computing. The report also compares Alibaba with Amazon, showing that the two share similar areas of focus but Alibaba wins in gross merchandize value (GMV) while Amazon excels in revenue. .
The report also says that the e-commerce penetration rate in China reached 20% in 2017, which is the highest and the fastest growing globally. China’s business-to-consumer e-commerce market achieved a 28% year-on-year increase in 2017, with mobile contributing to 73% of the GMV.
It is also worth mentioning that China is taking the lead in terms of shared travel, mobile payment and advertising. In 2017, the scale of China’s mobile payment achieved a 209% year-on-year increase. In China’s mobile payment market, the Alibab-affiliate Alipay occupied 54% of the total market share while Tencent‘s WeChat occupied 38%.