With 904 million internet users, China is the world's largest internet community and the top five Chinese internet companies – Tencent, Alibaba, Ant Group, Meituan-Dianping, and ByteDance – have a combined market cap and valuation of more than US$1.6 trillion. The market's sheer scale as an emerging global trendsetter has impacted the worlds of global business, policy, technology, and beyond. And increasingly, the successes of the Chinese company are being studied and replicated in other markets.
About 765 million people, more than half of the country's total population, engage in mobile payments, whether it's grocery shopping, hailing taxis, or...