♪ ♪ china introduced its internet plus policy in 2015. the goal was to promote the use of the internet in various industries such as e commerce

and online banking. it is now easier to conduct payment and management of funds online, resulting in a drastic change in lifestyle. smartphones have replaced wallets, and personal information can be registered on apps and used as i.d.s. consumers can now benefit from a whole range of services. the internet is convenient for individual consumers and also brings new business opportunities to companies.

china's mobile payment market has exceeded $6 trillion since the introduction of internet plus. 50 times the size of the u.s. market.

>> china's online industries continue to develop rapidly. and on this episode of "asia insight," we follow innovators who are trying to stay ahead of the game. >> smartphones have changed the face of a typical chinese morning. and people set off to work, you can hear digital deeps all around the station. a dedicated app gives you the code to unlock these bike share bicycles. once you punch in the code, you are ready to go. the fee is roughly ten cents for

every 30 minutes. since public parking is free in china, users can leave their bicycles anywhere once they're done. these days, most stores in china accept smartphone payment. from street vendors to shopping centers, people use their smartphones everywhere. apps also enable stores to calculate sales. no need for additional equipment. bicycles aren't the only things being shared. these umbrellas use the same system as the bike share bicycles. how can new ideas cater to people's needs? the latest innovations appear and disappear on a daily basis. and only a few select services

survive the competition. ♪ ubiquitous mobile devices can provide major business opportunities, and the value created online is resulting in changes to china's culture. these wang hong were direct products of this internet revolution. online streaming was popular with these young video bloggers becoming overnight sensations. initially, such youngsters gained followers because of their looks and personalities. but now needs have become so diverse, that wang hong with specialist knowledge are widely

sought out. today, one such wang hong is holding an event at the prestigious shanghai university. out over 700 an captainpplicaap graduate and undergraduate students are able to attend. a young man takes the stage.

>> he became famous by uploading english tutorials for students studying for entrance exams. his 270 videos have been viewed more than 270 million times. his visual blogs are explanations of his published english textbooks. today, he's announcing a new digital dictionary to be published in november. and $73 is not cheap, but it can be used on any electronic device, with new words added free of charge every year. along with a video explaining them. ju believes this will become the

largest and most ground breaking dictionary in china. he made $3 million last year alone. through online videos, sales of textbooks and lectures held all over china.

>> he now has more than 1.3 million registered viewers. through social media, he shares the mistakes he's made himself and addresses concerns expressed by his young audience.

♪ >> with china's one-child policy, he's like a big brother to his students. he now lives in a high-end residential district of shanghai. he was born into a farming family. after graduating from college, he began to teach at a local school. even then, his lessons were fun. that's why he was commissioned to public a textbook.

he began uploading online lessons to supplement his textbooks. it was the first step to a major turning point in his life.

>> he is an online success story. in spite of his busy schedule, he still teaches at cram schools and universities. he said his experience in the real world is the key to his continuing popularity online. established in 2013, this office share company for budding entrepreneurs has locations in shanghai's most exclusive areas called i.f. geek space. it's a business incubator for those wanting to start their own businesses. and many youngsters start out by renting a desk here for as little as $45.

new firms have been emerging constantly in this buoyant internet environment. more than 40% of all college students are considering launching their own companies after graduation. i.f. geek space was flooded with applicants wanting to rent out office space. and in two years, the company grew to five branches. >> the company president successfully launched his own software development firm while he was still in college. to rent office space, applicants must undergo a screening. leo has helped nor th eed more firms so far, even investing in businesses with major potential. but those who win a place here

must undergo leo's monthly evaluation. >> some 5.5 million firms were lost in 2016. with you only around 30% of companies started in the last five years have survived.

>> i.f. geek space hosts weekly study sessions. economists, successful entrepreneurs, and other guest speakers lecture attendees on how to set up or run a company, providing introductions to investors. however, evaluation is constant,

and their rents may be increased if their businesses show no congress within six months. >> the bell referred to here is the stock exchange bell. these budding entrepreneurs dream of taking their company public in the future. today, leo is visited by someone seeking assistance regarding a new business plan.

>> leo was contacted by this man a week earlier. after several e-mails and phone calls, he decided to invite them in to talk with some sympathetic investors. the man's pitch is to standardize the transfer of registered names for used cars in china, making it easier to buy and sell used cars online.

>> with no business plan or fixed timeline provide, the investor was still not convinced.

>> leo told the man to rewrite his business plan and he promised to make a website for him, if necessary. more than 2,000 people visit him every year. visitors include those seeking advice, investors or protection for their business ideas. but no matter how much potential a plan has, a system of reality must be maintained.

>> with roughly 700 million internet users in china, online information spreads like wildfire. when new innovative services start up, they're soon flooded with inquiries. but sometimes they become the root of social problems. one such example is the bike sharing service. cities are already overflowing with bicycles, with many abandoned in front of railway stations. in two years, almost 50

companies have broken into this market, resulting in more than 10 million bicycles on the streets. city authorities and rental firms dispatched staff to handle the situation. but they cannot keep up.

>> in spite of share bicycles already filling up the street, many firms are planning to further increase the number of bicycles. many bicycles that are in the way are stolen, intentionally broken, and discarded far away. u-bicycle broke into the market in january of 2017, with 500,000 bicycles in 17 cities, including shanghai. the founders, mainly i.t. engineers, developed smart locks equipped with gps. u-bicycle now has 100 employees.

it plans to offer services in areas untapped by major firms.

>> it's hard for industry newcomer u-bicycle to secure users.

>> u-bicycle intends to use accumulated big data by using the internet with its bikes and other new devices. the key to this business is data concerning when and where users take the devices. and for what purpose.

on june 1, 2017, the chinese government implemented a new law requiring internet users to register their real names online. thanks to the introduction of the internet plus policy, many people have come up with a wide range of online business ideas. and these new ideas have changed lifestyles in china. now the big question is, what comes next? ♪