From a cash country, where transactions were done by moving plastic bags with money between bank branches, China has turned into a leading force in fintech or financiel technology. Mobile payment are standard. Bitcoins and blockchain technology found in China early adopters. Social media have – more than anywhere in the world – adopted payment systems to facilitate online trade.
Category Archives: Weibo
WeChat expert Matthew Brennan has joined the China Speakers Bureau this week. China’ online giants dominate its economic, social and financial life, with Tencent’s WeChat as the major force, trailed by Alibaba and Sina’s Weibo.
WeChat is China’s operating system for your life, says Matthew Brennan in one of his presentations.
Chinese internet companies took the lead in selling through social commerce, rather than poorly working ads. China entrepreneur William Bao Bean explains how China is taking the lead from Western companies, at GetGlobal 2016 in Los Angeles. “Traditional ads are under pressure.”
The internet in China has been dominated by four huge players, Alibaba, Tencent, Baidu and Sina Weibo. After crushing their domestic competitors, they are now ready for the online world war, says VC William Bao Bean at Next16 the German audience about startups. “You’re under-funded, too slow and don’t work hard enough.”
When it comes to making money, Chinese e-commerce is more creative and successful, than any of their US counterparts, says VC William Bao Bean to the Washington Post. However, Chinese start-ups need to show they can generate enough revenue to make the model work in the middle term.
Most of the American internet companies like Facebook still make money through advertising, while their Chinese competitors like WeChat and Weibo make money through selling all you can think of, tells Shanghai-based VC William Bao Bean to AP. They are way ahead of Facebook.
Journalist Ian Johnson joins a radio debate at “On the Point” on the NPR on the blogger Zhou Xiaoping, who was last month endorsed by president Xi Jinping. Xi, or at least his speech writers, are trying to regain the ideological high-grounds, says Ian Johnson. They are looking for new moral values, and Zhou fits into this picture. His message ´proud to be Chinese´, comes with an anti-American slant. He is criticizing Western media when they report about China, tells Johnson, but also himself not really sticking to the facts when talking about the US.
Tom Doctoroff, APAC CEO of JWT, tries to close the abyss between social media and traditional branding in his latest book Twitter is Not a Strategy: Rediscovering the Art of Brand Marketing. In Thoughtful China he explains why branding on social media need the more traditional insights.
Western social media like Twitter and Facebook might get their first official inroads into China at the Shanghai Free Trade Zone, but the market has already been taken by giant and influential domestic players, tells internet watcher Sam Flemming at Reuters.
A common mistake outside observers make is taking their own social media experience, Twitter, Facebook, Google+, as the reference point for what is happening in China. Wrong, tells CIC-president Sam Flemming in China Innovation. China has a unique social media landscape.