Kleiner Perkins Caufield & Byers partner Mary Meeker spent a good deal of time discussing technology growth in China in her annual trends report today at the Code Conference.
Here are some key points:
Private tech companies are driving China’s wealth creation. That’s a big change from a decade ago, when health care and consumer staples were the biggest share of China’s market cap.
Mobile internet usage is far outpacing subscriber growth with 30 percent year-over-year growth. In 2016, there were 700 million mobile internet users in China.
China’s e-commerce growth was 24 percent year over year in 2016. Some 71 percent of e-commerce spending is on mobile devices.
China mobile payment volume doubled to more than $5 trillion in 2016, led by AliPay and WeChat, which thoroughly dominate the market.
China is the world leader in on-demand transportation, representing 67 percent of global market share — and trip volume growing fast.
On-demand bike transportation in China is second only to cars. Two-thirds of those bike riders use sharing programs three or more times per week.
Livestreaming monetization is huge. Its revenue per hour far outpaces TV.
People in China spend most of their media time — 55 percent — on the internet. Mobile internet consumption surpassed TV in 2016.
China became the No. 1 market for interactive game revenue in 2016, bigger than the U.S. That distance is expected to increase in 2017.
Much more in Meeker’s entire presentation.
This article originally appeared on Recode.net.