Entrepreneurial ecosystem to build new businesses on high-tech

Investors in the tech sector believe that a fundamental change in their business is coming in the next five years as an array of new technologies become commercially viable simultaneously. And, they argue that the Chinese tech market ecosystem is in a unique position to build products, companies and business models using these new technologies.

"What is happening right now is that there are a few major disruptive technologies - artificial intelligence, 5G, the internet of things, and blockchain distributed ledgers - all happening at the same time over the next few years. Each on its own is a major disruption, but together they are a major, major, mega disruption. I think the Chinese are the most ready of all countries or all peoples in the world to embrace them and turn them into commercial applications," said Edward Tse, founder and CEO of Gaofeng Advisory, who formerly led the China operations of the large US-based corporate strategy advisories Boston Consulting and Booz-Allen-Hamilton.

Competitiveness in the Chinese tech industry