Why China still needs Silicon Valley
Hong Kong (CNN Business)China may be in the middle of a tech battle with the United States, but that hasn’t stopped some of its biggest companies from expanding their presence in Silicon Valley.
Tencent (TCEHY) and ByteDance have research centers mere steps away from Stanford University. A few miles east, on the 101 highway, lie the offices of Alibaba (BABA), Baidu (BIDU) and Didi Chuxing.
These internet companies dominate in China, where they are pushing innovation in social media, online shopping and self-driving cars. But their presence in Silicon Valley underscores how Chinese tech heavyweights still need American know-how to stay competitive.
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