15 tech stories that rocked China this year

Let’s dive right in…

15. Didi dings Uber

Didi starts 2016 in style, revealing that the year prior saw the ride-hailing app complete 1.4 billion rides from its 250 million users. That eclipses Uber’s grand total of a billion trips during the startup’s life.

It sets the stage for a storming year for Didi.

A month later, Didi is valued at US$20 billion.

14. Xiaomi immediately disappoints

Xiaomi starts the year with a whimper, failing to hit the CEO’s smartphone sales target. At 70 million, it falls short of the startup’s most modest prediction – and way off the grandest 100 million target that it anticipated for 2015.

13. Billion-dollar Ponzi scheme collapses

After months of rumblings that major Chinese money lending startup Ezubao was engaged in fraud, Chinese police in February find “substantial evidence” that the company cheated more than 900,000 investors out of US$7.6 billion.

On the peer-to-peer lending service, 95 percent of investment projects are found to be fake.

After a heated 2015, P2P lending startups have a subdued 2016 as a lack of trust in the industry turns off lenders.

12. VR theme park teasers

“It’s like laser tag on steroids,” writes my teammate, Charlie Custer.

Once open, China’s VR theme park will have real-world sets with elements like steam and smoke added in for a unique atmosphere.

11. Rocket Internet chokes

German startup sausage factory Rocket Internet has never fared well in China, and that is hammered home in March when DeliveryHero quits the country.

DeliveryHero pioneered web-based food delivery in China way back in 2012, but that unraveled in the years to follow as local startups emerged and expanded rapidly.

10. Comedian laughs

9. Man runs

8. Over half the population online

7. No slowdown

6. Live streaming showdown

5. Apple falls from tree

4. Hua-who?

3. AI smartens up

2. Didi picks up Uber

1. Alibaba slides into Southeast Asia