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Information Technology

In 1987, China sent its first email — a message that read “Crossing the Great Wall to Join the World” — from a lab in Beijing to a research university in Germany. It was not until 1994, though, that China opened a permanent link to the internet and began hosting servers and web pages. There were just over 20 million Chinese internet users in 2000. By 2020, that number had grown to 989 million — almost three times the number of the United States, and the largest in the world in absolute terms.1

Much of that growth (in the areas of telecommunications, internet-based services, and software) has been concentrated in the past decade.2 By the end of 2020, total revenue generated by businesses in software and IT services had increased sixfold since 2011 to reach 8.2 trillion yuan ($1.2 trillion).3 Throughout the COVID-19 pandemic has continued to be the country’s fastest-growing sector. In 2020 and 2021, it grew by 16.9% and 17.2%, respectively, compared to GDP growth rates of 2.3% and 8.1%.4 As of 2021, at $654 billion, this sector’s output accounted for 3.8% of total GDP.5

Following China’s economic reform, China’s telecommunications market underwent a massive restructuring effort resulting in three state-controlled giants that provided landlines, mobile services, and internet for the country: China Telecom, China Mobile, and China Unicom. These companies’ growth exploded in the early 2000s: At the turn of the century, there were 20 phones for every 100 people in China — but by now, there are 125, which means the average person owns at least one phone, if not more.6 In 1997 and 2000, China Telecom and China Unicom went public in the U.S. and raised $4.2 billion and $4.92 billion, respectively,7 allowing them to acquire regional telecom operators and further expand across China.8 The launch of 5G services in 2019 opened up further opportunities and applications for the telecom giants.

The IT sector is a key element of China’s 14th Five-Year Plan (FYP) for 2021-2025, given the country’s ambitious plans to accelerate the adoption of next-generation technologies, including AI, blockchain, big data, cloud computing, and internet security, in a wide range of industries and government functions.9

But the rise of Chinese technology is not without some well-known challenges. After being left out in the development and standard-setting process of 3G mobile telecommunication technology, Chinese companies like Huawei and ZTE played an active role (along with the three telecom giants) in shaping 4G standards, which set the stage for their dominance in the 5G era. By 2018, Huawei was already capable of providing end-to-end solutions to countries globally.10 Confronting Huawei’s dominance in 5G and concerns over data security, countries in the English-speaking Five Eyes alliance (the United States, Canada, Australia, New Zealand, and the United Kingdom) instituted complete or partial bans on Huawei equipment and invited other countries to do the same.12

Additionally, as part of the U.S.-China trade war, the U.S. Department of Commerce has added several Chinese companies to export control lists since 2019 over concerns for China’s military modernization and human rights abuses.15 Additionally, in November 2020, the Trump administration signed an executive order barring U.S. investments in firms controlled or owned by the Chinese military. Within 3 months, the three Chinese telecom giants were delisted from the NYSE.16 The Biden administration has not shown signs of reversing policies set in the Trump era. If anything, the worsening relationship between the US and China will only add to the challenges facing China’s tech industry.

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