"The user experience from Chinese e-commerce firms is better than that from US peers, because Chinese firms are capable of providing 1,000 kinds of experiences to 1,000 people," said Neil Shen, the founding managing partner of Sequoia Capital China at the Fortune Global Tech Forum.
"Every year or so, we are able to see new business models emerge and disrupt the existing order to some extent while grabbing parts of the market share," he said.
Some of the inspiring companies that Shen mentioned were news aggregator Jinri Toutiao and China's version of Groupon called Pinduoduo. "They have very different, unique products that people haven't tried before." The US is one or two years ahead of China in the field of autonomous driving, but China will catch up soon, he added.
Source: Yicai Global