China's booming mobile app economy is on fast track of growth

Updated 2017-08-14 10:01:37 CGTN

China's booming mobile app market will continue to expand with rising smart device penetration and mobilization of more traditional businesses, according to a leading industry observer.

Research from App Annie, an app market data provider, showed that China surpassed the United States in iOS App Store downloads in 2015 and claimed the top spot for iOS App Store revenue.

"China's app economy is accelerating in growth, putting it within striking distance of Japan and the United States," Bertrand Schmitt, CEO and co-founder of App Annie said.

As home of 700 million mobile Internet users, China posted double-digit growth for three consecutive years, China Internet Network Information Center pointed out.

Chinese companies took eleven spots in the global Top 52 Publishers list, with Tencent and NetEase ranking first and third respectively for iOS and Google Play overall revenue, according to the latest report from the company.

Schmitt said that apps were transforming many sectors, especially in the retail and banking sectors, evidenced by China's booming mobile e-commerce and mobile payment industries.

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