Xiaomi and Da-Jiang Innovations (DJI) are just two examples of companies that have looked to the future, reinvented themselves, and developed technology to help move away from Shenzhen's era of cheap labour and fast exports. DJI now sells nearly 70% of the world's civilian drones, 80% of this revenue is generated from overseas. Meanwhile, Xiaomi, a mobile phone firm, was the third largest seller of mobile phones worldwide in 2014. As Xiaomi gained traction in the phone market it decided to expand its offering and is now working on a diverse range of Internet of Things products to interact with its mobile devices, such as light bulbs, bathroom scales and blood pressure monitors. To help with this shift the government set aside 40bn yuan last year to help startups, this saw 10,000 new companies register every day in the first three quarters of 2015.
Xiaomi and Da-Jiang Innovations (DJI) are just two examples of companies that have looked to the future, reinvented themselves, and developed technology to help move away from China's era of cheap labour and fast exports. DJI now sells nearly 70% of the world's civilian drones, 80% of this revenue is generated from overseas. Meanwhile, Xiaomi, a mobile phone firm, was the third largest seller of mobile phones worldwide in 2014. As Xiaomi gained traction in the phone market it decided to expand its offering and is now working on a diverse range of Internet of Things products to interact with its mobile devices, such as light bulbs, bathroom scales and blood pressure monitors. To help with this shift the government set aside 40bn yuan last year to help startups, this saw 10,000 new companies register every day in the first three quarters of 2015.