China's technology companies vying for growth in dot-com sector

With more than half a billion mobile phone users in China, many tech companies are desperate to cash in on the country's lucrative smartphone market.

China is now home to four of the world's largest internet companies, including e-commerce giant Alibaba.

Six of the richest men in the country are tech tycoons rather than the more traditional real estate barons.

Andy Mok, who recruits people in the dot-com sector, said entry to the tech market is easier than ever before.

"In the past, you might have to print tens of thousands of CD-ROMs and physically ship them to stores in order to get them to sell them and that took a lot of money up front," he said.

"Now all of you have to do is to upload your app to the App Store or Google Play and immediately you get global distribution.

"So what that means is that many, many people now, all they need to do is to be able to write an app that people want to use."

Competition is fierce as people vie for funding from venture capitalists, and private equity firms seek to generate the highest possible return for their investors.

Start-up companies are also raising much more money than before within a shorter period of time.

Sun Hao, the founder of online food delivery platform Daojia, is part of the booming age of the Chinese dot-com scene.

The smartphone app offers delivery from more than 2,000 eateries, and that is just in Beijing alone.

"My parents used to always cook at home, but now I never cook and the younger people, they don't even know what cooking is," Mr Sun said.

"There are more than half a million families using our services in Beijing."

However, there is speculation of a tech bubble forming.

According to an industry insider, many venture capitalist firms have sealed twice as many deals this year than they did for the whole of last year.

"I do feel some of the valuation of the companies really do get ahead of their time," Mr Sun said.

"But I feel the foundations are still quite solid in China because the market is huge and there is really a great opportunity for internet wireless technology to transform the traditional business here.

"So there is some bubble there, but I don't see great risk."

It will not be difficult for anyone wanting to enter the vibrant tech scene in China, but while the talent pool is rich, the battle can be bruising and it is hard to say how long the exuberance will last.