The announcement of the partnership between Tencent and Douyin, the Chinese counterpart of TikTok, on April 7 sparked immediate concern in the market. As competitors in short and long video hosting services in China, Douyin and Tencent have been in court several times over copyright issues, leading to lengthy litigation. Some believe the Chinese Communist Party…
Chinese Tech Giants Tencent and Douyin New Partnership Possibly Facilitated by the CCP
Tencent Reports Smallest Quarterly Revenue Growth in 18 years
March 29, 2022
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Business & EconomyChinaChina Business & Economychina tech crackdownCompaniesMedia & Big TechPony MaTencent Group
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China’s Tencent Holdings has reported its smallest quarterly revenue growth in 18 years amid Beijing’s regulatory clampdown on big tech firms. The company recently released its Q4 and full-year financial reports for 2021. Its Q4 revenue increased 8 percent year-on-year, the slowest growth since the company went public in 2004. Its non-IFRS net profit in…
China’s Rich List Reshuffles as Business Regulations Tighten
November 10, 2021
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AlibabaAsia & PacificChinaChina Business & EconomyChina Rich ListHurunJack MaPony MaSpecial TopicsTencent GroupTikTokWorldZhang YimingZhong Shanshan
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Xi Jinping’s crackdown on business has transformed the ranking of China’s wealthiest people. As indicated by the Hurun China Rich List 2021, many familiar names dropped several places, while at least nine tycoons have had their properties auctioned by the courts. New names were seen in the top three of this year’s rich list, with…
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