These days a bunch of highly innovative technology companies are redefining the image of Chinese goods globally and taking on the world in the process.
Anyone who still believes the phrase "made in China" means just cheap knock-offs should think again. Today, those three words stand behind many of China's biggest success stories, especially in the technology sector. The Xiaomi smartphone, for example, is the poster child of a new wave of Chinese products that have earned international recognition. By 2015, Xiaomi ranked fifth among the world's phone makers. Xiaomi's founder, Lei Jun.
"Xiaomi hopes that by being dedicated to making high-quality phones, we can change how Chinese people perceive Chinese products, and eventually change how the world perceives Chinese products," Lei said.
Xiaomi has just launched its latest smartphone, and Lei has been getting massive global media attention. It seems that the company is well on its way.
Today, Xiaomi has expanded into a wide spectrum of consumer products ranging from electric vehicles to air purifiers. It's technology edge has allowed it to swoop into different consumer segments and compete. Many other companies in China are also banking on the country's growing technology advantage to get ahead globally. Drone maker DJI is another example. Founded in 2009, it is now the biggest supplier of consumer drones in the global market. DJI is possibly the first Chinese company to achieve No.1 status in a consumer sector.
"And I think that sort of development story, that success story, starts changing the way that people think about innovation in Asia. There is huge innovative potential. You have a huge talent base of engineers, and you also have manufacturing capabilities right here. And that allows people to iterate a lot faster, and come up with really unique and novel solutions," said Michael Perry, communications director at DJI.
Manufacturing capabilities is another winning factor. China is moving far beyond low-wage factories. Automation, computer controls, today's Chinese manufacturers have got the whole package. That allows them to roll out the latest high-tech products and shift the world's technology scene fast.
"You've got companies like Xiaomi, DJI, they didn't exist four years ago, and now they're taking on the world. They were nine unicorns in Asia created in the last quarter alone. The world has shifted. It's no longer about Silicon Valley, and Asia's playing a massive part in the future," said Paddy Cosgrave, founder of Web Summit.
Chinese companies are moving from followers to leaders. Thanks to their technology edge, these new type of tech companies are taking off globally...and that's probably an understatement.
