The Dragon is back!
Also, China is to pass the 1 billion mobile phone user mark in the second quarter of 2012 (cf. Telecom section). The number of people surfing the web on mobile phones reached 356 million in 2011, making mobile handsets the preferred means to access the web for close to 70% of the population.
Chinese market is also seen as a huge opportunity in the government market segments, with government plans to issue 800 million smart card based social security cards within five years (cf. Smart Insights Weekly #11-38), the need for replacement for the current “second generation ID card”, and the issuance of ePassports.
Of course, the announcement that China would be switching its two billion banking cards to EMV came as a bombshell a few months ago (cf. SIW #11-12).
Should we see these market announcements as a threat or as an opportunity? Probably both ways!
In Chinese astrology, the Dragon is the most powerful and auspicious of all zodiac animals, and the Year of the Dragon is the luckiest. So, Happy Chinese New Year, and good luck to all Smart Insights Weekly readers!