Report 2021

Following a period of rapid growth and innovation, the China internet sector has entered a new phase of development with both push and pull factors driving internet companies to evolve, including tightening regulations, an increasingly saturated domestic market with changing demographics, and geopolitical tensions.

The 4th edition of the China Internet Report looks at how these factors are influencing companies to look outside their established markets, pivot business models, focus on new customer segments, and adapt to shifting dynamics to remain competitive.

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Interested in the Pro Edition?
Looking for more analysis into the China Internet market? Deep-dive into 10 sectors including 5G, AI, blockchain, e-commerce, fintech and online education with options to purchase individually or for your entire team.
CIR 2021 Pro Edition
Number of pages 50+ 130+
China Internet at a Glance
Top Cross-sector Trends for 2021
10 Sector Deep-dives
E-commerce, content & media, gaming, blockchain, fintech, online education, healthtech, smart cars, 5G, artificial intelligence
Learn more
Special thanks to our contributors (in alphabetical order):

Jennifer Zhu Scott
Executive Chairman of The Commons Project
Rui Ma
Tech Analyst, US / China
Shirley Ze Yu
Senior Visiting Fellow with the LSE, Asia Fellow with Harvard Kennedy School
The China Internet Report 2021 is independently produced by the South China Morning Post. Special thanks to Race Capital for supporting our research this year.
Race Capital is an early stage venture capital fund focusing on investing in exceptional founders who are building market-transforming companies in the data, enterprise, infrastructure, and fintech sectors. Our previous investments include FTX, Goodnotes, Opaque Systems, Social Chat, Polysign, Slack (NYSE: WORK), (NASDAQ: API), Solana, and many other great companies.