Taking advantage of this, China Unicom has been closing the 3G gap with China Mobile by adding at least an equal number of 3G subscribers every month.
Of course, the United States still boasts far more researchers than China, but the gap is narrowing rapidly.
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But I think people shouldn't get carried away about what it means in terms of a gap between China and India.
"This dramatically shortens the technology gap between China and the rest of the world, " he said in an interview.
Yet, some analysts believe that India still has a long way to go before it can close the gap with China.
In fact, the trade gap with China continues to rise.
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It is a priority because the EU has a huge bill for oil and gas imports from outside Europe - bigger even than the EU's manufacturing trade gap with China, he says.
But the wage gap between China and other developing countries will shrink, said Mr. Fung, echoing views shared by Boston Consulting Group, because "China was the thing that kept the price low, " he says.
Vancl is a no-frills retailer of made-in-China clothing, akin to Gap or Uniqlo.
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Executives of the San Francisco retailer recently announced plans to expand their operations in China, adding 35 new Gap branded stores to their existing 47.
Gap's China president, Jeff Kirwan, said the company is optimistic about growth in China, as Chinese consumers are eager to learn about global brands and have a strong appetite for American style.
According to the University, the total income of the top 20 percent of the rural households was 10.19 times higher than the bottom 20 percent and that the wealth gap in west China was bigger than in the east of the country.
But in China I think that the gap is wider, certainly than it is in the States, and it's almost a case of natural selection where people come to a fork in the road in China and either go to the state sector or to the private sector.
Because of that gap in trade, China ends up with about a billion new U.S. dollars every day.
Yet there was an unbridgeable gap between IBM and China's behemoths.
But unlike in information technology, China has not actually closed the productivity gap with the United States.
This explains why Gap opened 30 stores in China last year and plans to add 35 more in fiscal 2013.
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By January 2009, the gap widened, even though China had lowered rates to 5.5 percent, because U.S. rates had been slashed to near zero.
Today it gels neatly both with India's determination to develop the north-east and with China's plans to close the gap between its booming east coast and the laggardly western interior.
"The high-growth Indian market, the third largest in Asia after China and Japan, was a noticeable gap in our network, " says Gavin Darby, Vodafone's chief executive for the U.S., Africa, China and India, who now sits on Bharti's board.
The United States has been borrowing from China and other countries to make up the gap.
We expect Gap to continue to expand its business in China in order to build a solid foundation for future growth.
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India and China have announced they will resume joint military exercises after a gap of four years.
China now accounts for most of the U.S. trade gap in manufactured goods, and it competes against U.S. companies in virtually every product category.
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China and India are coming up fast as tech powers though a big gap still exists between these emerging markets and developed nations.
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Earlier this year, in a sign of change to come at Kleiner, managing partner Ray Lane angled to close the gap between the investing strategies and styles of its teams in China and the U.S., and initiate more collaboration.
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The US wants China to move towards a more consumer-led economy, narrowing the trade gap between the two countries.
The gap between the central bank's philosophy and its practice highlights divisions in China's economic policymaking.
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