China's mobile report: Transactional marketing and other trend insights from Tencent
Low Lai Chow
China is a benchmark for the world's developing nations, according to Seng Yee Lau, senior evp, Tencent Holdings and president of its Online Media Group. Delivering a keynote address at the MMA Forum Singapore, held in May 2014, he contrasted the digital economy's current contribution to the country's GDP – around 3.5% – with what might be possible in the future, citing the case of the UK, where, on some forecasts, e-commerce could account for as much as 20% of GDP by 2017. "That's a huge number that China can move forward to," he said.
China's changing landscape
Lau talked at length about the state of mobile marketing in China, and the impact of mobile on the nation's social, economic and consumption landscape. Mobile is leading to huge growth opportunities in China, now the world's largest mobile internet market with 500.1m users.