China top of list for UK start-ups
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Silicon Valley in the USA has traditionally been the destination of choice for UK start-ups. That situation is changing. [Photo: sino.uk]

I once worked for a start-up broadcaster. Unfortunately, it wasn't a great success story, but I got the impression that the Chief Executive wouldn't have been happy even if we had become the most successful broadcaster in the United Kingdom. Like so many other start-up bosses, he wanted to conquer California's Silicon Valley. Only then would he have considered his business to be successful.

Fast-forward under ten years, and the destination of choice for British start-ups is rapidly becoming China.

That's because of the remarkable transformation in Chinese industry, especially in technological areas, to become one of the most innovative places on the planet.

In August, we reported that China had 'pulled-ahead' of Silicon Valley in the race to innovate.

Technological advances that can be attributed to China include QR codes, live-streaming video and ride-hailing. Of course, these have now been adopted by Western firms like Uber and Periscope, but have their roots in China.

The New York Times takes this analysis further by illustrating that more Chinese people use advanced features of their smartphones - such as mobile payments - than counterparts in the USA. This combination of user interaction and technological innovation helps to explain why interest in China has never been higher amongst British start-ups.

Author： 　　　Source：CRI　　　 Editor：Yang Fan