SILICON DRAGON NEWS                                       June 4, 2018         
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with John Holden of US-China Strong and Adam Steinberg of VIPKid in DC  at recent careers summit 

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China Tech Innovation In Mobile, Video, Commerce Highlighted In Meeker Analysis 

China tech is highlighted in Mary Meeker's annual Internet report that underscores China's advances in mobile entertainment and payments, e-commerce, artificial intelligence and on-demand transportation -- in other words, all the latest trends that define Chinese innovation today.
If you want evidence of China's climb, consider that nine of the world's top 20 Internet leaders ranked by market valuation are in China today: Alibaba, Tencent, Ant Financial, Baidu, Xiaomi, Didi Chuxing,, Meituan-Dianping and Toutiao. The remaining 11 are in the U.S. led by Apple, Amazon, Microsoft, Google (Alphabet) and Facebook.
China's momentum in artificial intelligence is also highlighted along with Chinese government support for AI development. The report cites Eric Schmidt's prediction that China could be at the level of the U.S. within five years, considering how fast Chinese AI knowhow is improving.
Keep reading at Forbes: Meeker On China

Joe Tsai Related: Alibaba co-founder Joe Tsai speaks at Recode and tells the audience that many Americans want to stop China from upgrading its technology and becoming more innovative. Read the full transcript of the interview with Tsai here.

Related: Edith Yeung from 500 Startups sums up the latest China trendspotting at Recode:
- Baidu leads autonomous car effort 
- Alibaba leads eCommerce AI & $220B food safety challenge
- AI helps 2.9 billion human migration challenge
- Sensetime & Face++ lead financial AI
China Frontier Tech Report


The world's most valuable AI startup, SenseTime from China, has raised $630 million, bringing its funding to $1.2 billion in just a few months at a valuation of $4.5 billion. As a sign of its ambitions, SenseTime's recent contracts are with China's largest subway operator to develop traffic monitoring systems and with Chengdu to align with the Belt and Road Initiative in western China. Other initiatives include an AI textbook for secondary schools in China, an AI lab in Hong Kong, and an alliance with MIT.  
Investors include Fidelity International, Hopu Capital, Silver Lake and Tiger Global plus strategic investor Qualcomm Ventures.
Silicon Dragon spotted SenseTime early on and awarded its Hong Kong founder the Best Founder Award of 2017.

Chinese cross-border e-commerce startup Jollychic has raised series C financing from Sequoia Capital and Legend Capital, and joined the unicorn club.

Alibaba has led a Series D investment in Chinese shopping app Xiaohongshu, joined by Tencent, GSR Ventures, GGV Capital, ZhenFund, Genesis Capital and others.
Co-founder Miranda Qu spoke last September at

Alibaba and its logistics group Cainiao have made a strategic investment of $1.38 billion in ZTO Express for a 10 percent equity stakeThe deal is all about speedier and more efficient deliveries in China, particularly the first and last mile, using smart technology.  

General Atlantic has led a $46.7 million, Series B Round in Chinese convenience store operator in Wuhan. 
Sinovation Ventures has led a $13 million, Series A investment in children coding website VIPCODE in Beijing.
General Atlantic has inked a deal to acquire a majority stake in a package foods products producer based in Mumbai.


When it comes to venture capital returns, the U.S. remains ahead, according to a study from private equity software firm Front Financial, but Chinese venture capital funds also generated "exceptional returns".  U.S. funds came in with a 14.37 internal rate of return while China checked in at 11.53.   


Timeless themes are on Wei Zhang's mind these days as she tries to steer Alibaba Pictures, the Pasadena-based film unit of China's biggest e-commerce company, into a technologically evolving future. See Reach Further
 She set up shop in LA in 2016, tasked by Jack Ma to develop Alibaba's entertainment business and find stories to share with the content-hungry audience in China, soon to be the largest movie market in the world.
Check out more at Silicon Dragon LA 2018.

If you got inspired by the recent royal wedding and are thinking of visiting London sometime soon, you might want to swing by London's vibrant startup district Shoreditch while you're touring.  A well-placed trendy hotel in the heart of the hip area and with an Asian theme is the Japanese inspired Nobu Hotel. Be sure to try the Japanese breakfast in the Nobu restaurant.