Technology, Internet & Telecom
Technology, Internet & Telecom - 1Q20 Sector Overview
China's Tech Space Evolves to Counter Effects of the Coronavirus
The year 2019 was a challenging time for many Chinese tech companies due to a slowing economy, evaporating venture capital, constantly changing supply chains and US blacklists. However, these issues only intensified in 1Q20, mostly due to the novel coronavirus outbreak in China and then globally. Generally, certain industries such as e-commerce, gaming, enterprise software and AI have seen strong gains this past quarter while other areas such as hardware manufacturing have seen negative impacts. Nevertheless, tech infrastructure, such as industrial internet and 5G are to receive additional support from the government, as one of the many measures to support the economy and the sector.
Chinese telecom companies have continued active deployment of 5G networks nationwide and worldwide. As of early March, 80% of 5G network construction was on track in the country despite the virus outbreak. China thus far is retaining its global leadership in 5G adoption.
For more information about major Chinese technology sector highlights and events, download our Q1 China Technology, Internet & Telecom Sector Overview.
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