This.

When the West moved toward a thriving ecosystem of web applications, the web scene in China was a complete mess. Not many people were confident enough to use the Web, let alone trust a random website with their bank account which has no dispute channel. Plus the web is full of malware and scams and almost all PC ran pirated Windows XP with abysmal if any antivirus software.

When most people equated internet with the IE icon, people in China did it with the dorminating IM software made by Tencent.

The explosion of mobile ecosystem speaks to the lackluster of a thriving web ecosystem and to some degree a clunky financial system and lack of meaningful consumer protection.