Alipay is a global Internet services leader because of its ability to innovate as it rolled out services to more than 1 billion people globally, according to the 2019 edition of the "Internet Trends Report" released on Wednesday by the legendary Internet stock analyst and investor, Mary Meeker.

Meeker describes Alipay has having evolved into a super app from its beginnings as an electronic wallet, as it has expanded to include more than 200,000 applets.

The country is home to nine of the world's top 20 tech giants, while the United States has the other 11, according to the much-anticipated annual report from Mary Meeker, a partner at venture capital provider Kleiner Perkins Caufield & Byers.

While the US is still ahead, Meeker referred to China as "focused and organized and gaining," highlighting that with a quote from former Google CEO Eric Schmidt, who has predicted that China and the United States could be equal in artificial intelligence prowess within the next five years.

Meeker said the Chinese government is highly focused on developing AI, noting that China outpaces the US in the number of natural science and engineering degrees it awards annually, providing its tech companies with abundant trained labor.

China also rose rapidly in the mobile internet industry, with the number of mobile internet users reaching 753 million in 2017, up by 8 percent year-on-year, according to Meeker.

The number of China's mobile internet users reached 820 million in 2018, up 9 percent year-on-year, the annual report of Mary Meeker, a partner at venture capital firm Kleiner Perkins, said.