The business of government surveillance in China might spawn the rise of a new growth area, a Credit Suisse analyst said on Tuesday.
Currently, almost half of the so-called"unicorn" startups in China — those valued at $1 billion or more — are consumer goods companies making use of existing technology. In the U.S., most unicorns are driven by new innovation through research and development. "For example, quite a lot of AI companies in China, their biggest business is public surveillance type ; that could be another area you could see rising," Chan told CNBC at the Credit Suisse Asian investment Conference in Hong Kong.
Many Chinese tech firms choose to list in the U.S. However, with the Shanghai Stock Exchange set to launch a Nasdaq-style"technology innovation board" in the coming months, many big consumer firms might consider dual listings, said Chan.
Markey is a goof
Good job not talking about the report