The Boom of Technology – Original Innovations of China 

The rise of technology has been consistent for a long time. It doesn’t seem to stop since it started because of constant changes. The changes bring advancement in technology which people accept so fast that it keeps on evolving more. The boom of the tech industry is going to stay for a long time as people are used to it.

Humans keep on excelling in finding new ways to interact with the technological limitations by making something new out of it. So far, the use of technology is good and bringing changes to the world. However, when it becomes impractical for the humans, then the progress for it might stop, but as of speculations, the Asian technology will keep on booming for some time.

If you talk about the technologies in China, there are many innovations which are originally from that country. They did not copy any of the ideas from the world yet create their technology for the betterment of their economy. A lot of innovations from China made huge moves in the tech industry around the world. They make the life convenient for the public of China as changes occur.

Dockless Shared Bicycles

Chinese people use bicycles in most of the places such as if they have to go to office or university. They prefer to use bicycles more than a car as it is economical and healthy as well. There are more than 30 companies of bike sharing in China which have about 10 million bicycles for the sharing purpose in different cities of China.

The sharing bikes concept originated from the western side of the world. However, China recently came up with the idea of dockless bikes sharing business model. These station fewer bikes help the users to pick or park the bike anywhere they want on the street. Instead of the specific place, they can pick the bike or park it wherever they find the spot.

It has a mobile payment system, GPS, IoT and smartphone apps included with the bike. The dockless shared bikes help people to get affordable transport along with convenience. You have to use the QR code to unlock the bike through the smartphone application. When you are done riding, you have to lock the bike manually and then pay through the mobile payment services connected to the application of the bike such as WeChat or AliPay.

The two operators who are leading in China for the bike sharing are Ofo and Mobike with the expansion globally. Mobike made its way to Singapore, Britan within six months. However, by the end of the year, it landed in London as well. On the other side, Ofo made its way to US, Singapore, Britain, and Kazakhstan.

High-Speed Rail

China has the world longest high-speed rail network with keeping the low cost and quick delivery in mind. The brand name is “Name Card” which runs at the 250 – 350 KM speed per hour. There are more than 5 billion passengers who travel through this rail within China to reach their destinations. China is also working on the next-generation rail with the 400 kilometers per hour speed. By the end of 2020, there will be a network of the railway up to 150,000 km with linking almost 80% of the cities within China. The rail also went global within turkey in 2014. The railway between Thailand and China is under construction which may complete shortly.

AliPay

AliPay which is also known as Zhifubao in China is top online payment service in China. It emerged from the Alibaba Group which is the e-commerce lead in China. AliPay works as the third party for the process of transaction where the buyers have to make the payment through a password or scan the payment code on the application of AliPay.

Along with that, it also helps in transferring money online from one AliPay account to another. You can also transfer from the online bank account to the AliPay Account to make online purchases.

It helps in making China one of the leading cashless society by adding convenience to the life of the users. Not only this but you can also make the bill payments such as electricity bills and water bills. If you want to make in-store payments or cross online border payments, those can be done through AliPay as well.

AliPay passed over the popular PayPal in 2013. Because of the massive usage and a lot of purchases within China and internationally, it became the reliable online platform for payments with bringing it in completion with other payment platforms around the world. Another rivalry of AliPay is WeChat (Tenpay) which about 30% of the people in China still use to make payments.

E-commerce

China has the lead in the market of e-commerce around the world. .the growth rate of online shopping in China has increased in the past few years. Chinese people tend to buy everything online rather than going to the stores physically. The merchants open the store online which requires them to pay low costs and less requirement for licensing.

The leading operators for the e-commerce market in China are Taobao, Alibaba, Tmall, and JD.com. These are reliable sources which people use and get the things at their doorsteps with ultimate convenience. The items they order are perfect and flawless due to which they trust the sources and become loyal to it.