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 China generated around 15% of global data in 2017 but this was now 21% by 2020 and will be up to 33% by 2030. By 2018 the US had already been caught in internet AI and China is predicted to have a 60-40 advantage by 2023. China’s lead in Perception AI such as facial recognition is already 60-40 but this could extend to 80-20 by 2023. Autonomous AI, able to visualise, listen, and feel its surrounding world, will see China level with the US by 2023.

 

Consumption constituted 54.3% of China’s total GDP and 60%-70% of economic growth in 2020. Services will constitute 60% of GDP by 2025 and 80% by 2050. Rural China now hosts almost half (40%) of China’s middle classes with 160,000 rural outlets for retail. Chinese share of global consumption growth will be $6.2 trillion and 18% between 2015 and 2030 overtaking the US and Western Europe by 2030. By 2030 there may be 500 million millennials in China’s middle class becoming the world’s most important consumer group as the new super-consumers.

 

China’s is on course for a GDP per capita rate of $25,307 in 2025 and by 2050 China may reach Singapore’s current per capita income of $58,500. In just 20 years; more than 800 million people have been lifted out of poverty in China (at 75% globally), a middle class of around 500 million has been created, and jobs have been created for 900 million. Alibaba and its 4,000 “Taobao villages” were helping online agricultural sales and other local specialities of over $100 billion in 2019. China had eliminated all remaining rural poverty by February 2021.

 

DJI constituted up to 80% of the global consumer drone market in 2019. DJI also has 60% of the global commercial drone market. EHang is a fully autonomous electric drone start-up that operates as a globally-pioneering taxi service flying passengers over 50 km in Dubai for example as well as making autonomous deliveries, including medical supplies of up to 10 kg, in Chinese urban areas since May 2019.

 

The Chinese economy has contributed around 25% of all global GDP growth since 2000. High-tech exports were in excess of $700 billion in 2019 at more than four times the level of the US. Chinese companies historically led the Fortune Global 500 in 2020 constituting around 25% overall and three of the top four positions. By 2025 there will be more billion-dollar revenue generating companies in China than the US. By 2050 China’s economy is projected to be 150% the size of the US’ at $105 trillion to $70 trillion by PPP and $50 trillion to $34 trillion by GDP.

 

China is the globe’s biggest market for electric vehicles (EVs) with 1.8 million sales in 2021. New energy vehicles’ share of overall passenger vehicle sales in China is expected to reach 20% by 2025. China is producing over 50% of global electric car batteries and has constructed over 50% of electric charging piles. Vehicles with autonomous features will represent 50% of new car sales in 2025, more than 60% in 2028, and reach 90% in China’s first-tier cities.

 

Mobile payments constitute 80% domestically and were $49 trillion in 2019 as the largest digital payment system globally. There were 75,000 Chinese blockchain companies by June 2021 in a domestic industry that could reach $2.5 billion by 2025. A global “internet of blockchains” through China’s Blockchain Services Network will become critical for the Digital Silk Road. The digital yuan was piloted from April 2020 with the potential to enable 300,000 transactions a second.

 

5G provided instant remote consultation in ultra-HD imagery for over 60 hospitals in 19 provinces. Helmets and robots, such as developed by KC Wearable, SenseTime, and Yitu Technology for example, ascertain temperatures of 200 people in just a single minute using an “AI-fever screening system” of images through heat.

 

Innovation is projected to constitute 60% of GDP by 2025. China already had the largest number of tech unicorns in the world at over 200 and 25% of the global total in 2020 at more than $1 trillion in value. China had almost half of the top 20 global internet companies by 2019. WeChat, Meituan, and Didi for example have meant whole new AI ecosystems for app designs. By 2018 there had been around $100 billion Chinese tech investment worldwide.

 

Already 45% of China’s overall installed power capacity is renewable at over 1,000 GW. Renewables will represent a majority of Chinese overall installed power capacity by 2025. China has around one-third of global renewable energy that will rise to 43% overall by 2026. China’s 1,200 GW solar and wind capacity 2030 target will be achieved by 2025 and is on pace to be scaling 2,000 GW and at a minimum 1,500 GW by 2030.

 

The $300 billion ‘Made in China 2025’ initiative will engineer at least 60% Chinese domestic market ownership of high-tech robotic core components and industrial robotics, big data, smart manufacturing, electric vehicles, renewable energy equipment, high-tech medical equipment, and cloud computing while industrial software will reach 50% and smartphone chips 40%.

 

Over 500 smart cities are being constructed in China. The $583 billion Xiong’an New Economic Area, the world's first AI city, will become northern China’s centre of innovation with only EVs and AVs and be 100% renewably powered for its 25 million population. Much of its infrastructure will merge with autonomous AI and be developed by Baidu. 

 

China already constitutes at least 70% of global 5G connections at and 200 million users (reaching over 800 million in 2025) and will achieve full commercialisation nationally by 2023. China held 40% of the global 5G smartphone market in May 2020 (reaching 45% in 2025) while at least 60% of global 5G devices were provided by Chinese companies. China has constructed over one million 5G base stations at more than 70% of the global total with three million overall by 2023 and ultimately reaching 10 million.  

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