Page 71 - How China Is Winning the Tech Race

CHAPTER FOUR

Car ownership in China is still exceedingly rare, but the dream is becoming a reality. China
is destined to become the world’s largest car market, with some 15 million newly middle-
class Chinese poised to buy their first vehicles in the next three years. Enter John Zhang,
who has modernized the all-American AAA brand down to its name: Chinacars Club (CCC).
Next, Zhang has his eye on a Nasdaq listing.

Chinacars.com—
Cruisin’ with Style

he construction cranes are
T cranking night and day at the
Olympics site in Beijing as the city
prepares to host the 2008 summer
games. The twig-like track and field
stadium known as the Bird’s Nest
already has taken shape—just one
symbol of China’s progress.
John Zhang still remembers the
day the news broke that Beijing had
won the competition to host the
Olympics. It was July 13, 2001, a
historic date for his country and for him.
That was when Zhang, who was out of work after his high-tech Silicon
Valley employer went bankrupt, had a eureka moment. That very day, he
decided to get on a plane to Beijing, his hometown, as fast as possible. “I
needed to be there. This was a special moment for China,” Zhang says.
In Beijing, he was caught up in the excitement. People were out in the
streets celebrating. Bars were full. Zhang rented the cigar lounge of the St.
Regis Hotel and threw an all-night party for his friends.

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Copyright © 2008 by Rebecca A. Fannin. Click here for terms of use.