Transcription of McKinsey Digital The Future of Digital Innovation in China
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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 .
more closely manage the activities of the internet platforms in order to strike a balance between business model innovation and societal well-being. But the changes in China have happened so quickly, they have taken many players and investors by surprise. The scale and momentum it has built across so many
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