McKinsey Digital The Future of Digital Innovation in China

McKinsey DigitalThe Future of Digital Innovation in ChinaThe paths taken by Chinese companies have relevant implications for both Digital and traditional players as they craft their Shaping One of the World s Fastest Evolving Digital EcosystemsOctober 2021 dowell/Getty Imagesby Lambert Bu, Violet Chung, Nick Leung, Kevin Wei Wang, Bruce Xia, and Chenan XiaIn a relatively short span of time, China has transitioned from a technological backwater to become one of the world s largest Digital economies. On the back of its base of nearly one billion internet users, China s ecommerce sales grew to $ trillion in 2020, a number that is equivalent to 30 percent of all retail sales in China . But this is not just a story of size.

ecommerce, and social media, respectively. At this point, China’s digital landscape paralleled that of Western markets, where Google, Amazon, and Facebook mapped the functions fulfilled by BAT. Such similarity was short-lived, as Tencent created a new model in which Chinese players launched so-called super apps. With advanced

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