Chinese Social Media Giant Is Worth More Than Facebook

Daniel Shane
CNN
Tencent shares closed more than 2% higher in Hong Kong on Tuesday, valuing the social media and gaming giant at around $522 billion, according to FactSet. Facebook is currently worth a little over $519 billion.

China’s Tightening Grip on Tech Giants: DealBook Briefing

Amie Tsang and Michael J. de la Merced
New York Times
If the Chinese government goes through with a plan to gain board seats at some of its country’s top technology players, will that cause problems when those companies go hunting for deals overseas?

China's Two Largest Tech Companies Sign a Deal over the West's Biggest Music

Andrew Flanagan
NPR
Among the deals being signed that shape the way the world experiences culture, a new partnership will exert a great influence on the flow of content from the world's three remaining major record labels to an enormous and growing marketplace —...

Sinica Podcast

09.11.17

China’s Tightening Grip on Cyberspace

Kaiser Kuo, Jeremy Goldkorn & more from Sinica Podcast
Adam Segal returns to Sinica to comment on China’s recent cybersecurity law—where it came from, how it changed as it was being drafted, and how it may shape the flow of information in China in the future. Other issues discussed include the...

Alibaba and Tencent Are Showing How Companies Can Get around Beijing's Crackdown on Foreign Deals

Sophia Yan
CNBC
The firms, among China’s most important tech giants, are overseeing the merger of two companies they back. Chinese delivery firm 58 Suyun is combining with Hong Kong logistics company GoGoVan — both have raised funds from Alibaba, and Tencent backs...

China Chatbot Goes Rogue: ‘Do You Love the Communist Party?’ ‘No’

Louise Lucas, Nicolle Liu, and Yingzhi...
Financial Times
Two chatbots with decidedly non-socialist characteristics were pulled from one of China’s most popular messaging apps after serving up unpatriotic answers about topics including the South China Sea and the Communist party.

In Urban China, Cash Is Rapidly Becoming Obsolete

New York Times
Almost everyone in major Chinese cities is using a smartphone to pay for just about everything. At restaurants, a waiter will ask if you want to use WeChat or Alipay — the two smartphone payment options — before bringing up cash as a third, remote...

Sinica Podcast

06.07.17

Kai-Fu Lee on Artificial Intelligence in China

Kaiser Kuo, Jeremy Goldkorn & more from Sinica Podcast
Kai-Fu Lee is one of the most prominent figures in Chinese technology. He founded China’s noted early-stage venture capital firm Sinovation Ventures after launching and heading up Google’s China operations during their years of growth from 2005 to...

Google Is Already Late to China’s AI Revolution

Wired
“Some of the major Chinese companies are some of the most sophisticated deep learning and data companies in the world.”

Books

05.02.17

China’s Mobile Economy

Winston Ma
China’s Mobile Economy: Opportunities in the Largest and Fastest Information Consumption Boom is a cutting-edge text that spotlights the digital transformation in China. Organized into three major areas of the digital economy within China, this ground-breaking book explores the surge in e-commerce of consumer goods, the way in which multi-screen and mobile Internet use has increased in popularity, and the cultural emphasis on the mobile Internet as a source of lifestyle- and entertainment-based content. Targeted at the global business community, this lucid and engaging text guides business leaders, investors, investment banking professionals, corporate advisors, and consultants in grasping the challenges and opportunities created by China’s emerging mobile economy, and its debut on the global stage.The year of 2014-15 marks the most important inflection point in the history of the Internet in China. Almost overnight, the world’s largest digitally-connected middle class went both mobile and multi-screen (smart phone, tablets, laptops, and more), with huge implications for how consumers behave and what companies need to do to successfully compete. As next-generation mobile devices and services take off, China’s strength in this arena will transform it from a global “trend follower” to a “trend setter.”Understand what the digital transformation in China is, and impact on global capital markets, foreign investors, consumer companies, and the global economy as a whole.Explore the e-commerce consumption boom in the context of the Chinese market.Understand the implications of the multi-screen age and mobile Internet for China’s consumersSee how mobile Internet use, its focus on lifestyle and entertainment is aligned with today’s Chinese culture.Learn about the mobile entertainment habits of China’s millennial generation and the corresponding new advertisement approaches.The development of China’s mobile economy is one of the most important trends that will reshape the future of business, technology, and society both in China and the world. China's Mobile Economy introduces you to the digital transformation in China, and explains how this transformation has the potential to transform both China and the global consumer landscape. —John Wiley & Sons, Inc.{chop}

China’s Tencent Bought A 5 Percent Stake in Tesla

Johana Bhuiyan
Re/code
Tencent, a Chinese internet giant, is also an investor in Chinese ride-hail player Didi Chuxing.

China’s Weibo Eclipses Rival Twitter’s Market Capitalization

Louise Lucas
Financial Times
Shares rally on back of Chinese social platform’s ability to monetize subscriber base

Google Play and iOS Apps Demand Surges in India and China

Leo Kelion
BBC
The two leading app stores both experienced a tilt towards Asia in 2016, according to an annual study.

China Is Mad About Hollywood Remakes

Lillian Lin
Wall Street Journal
Aiming to crack new frontiers in China, Hollywood studios are turning to something familiar: established American films and TV series that can be remade for Chinese audiences.

Traditional Red Envelopes Are Going Digital Thanks To China’s Largest Internet Companies

Catherine Shu
TechCrunch
This year, Baidu, Alibaba, and Tencent are all offering their own version of online red envelopes.

China's Alibaba Pictures Ousts Senior Board Member After Graft Allegations

Patrick Brzeski
Hollywood Reporter
The company hasn't been able to contact the former Tencent executive since he was detained by authorities in July...

Hong Kong Is the Happiest Place in China, According to WeChat Posts

Richard Macauley
Quartz
Hong Kong is home to the happiest people in Greater China, closely followed by Taiwan, according to Tencent.

Books

08.27.15

China’s Disruptors

Edward Tse
In September 2014, Chinese e-commerce giant Alibaba raised $25 billion in the world’s biggest-ever initial public offering. Since then, millions of investors and managers worldwide have pondered a fundamental question: What’s really going on with the new wave of China’s disruptors?Alibaba wasn’t an outlier—it’s one of a rising tide of thriving Chinese companies, mostly but not exclusively in the technology sector. Overnight, its founder, Jack Ma, appeared on the same magazine covers as American entrepreneurial icons like Mark Zuckerberg. Ma was quickly followed by the founders of other previously little-known companies, such as Baidu, Tencent, and Xiaomi.Over the past two decades, an unprecedented burst of entrepreneurialism has transformed China’s economy from a closed, impoverished, state-run system into a major power in global business. As products in China become more and more sophisticated, and as its companies embrace domestically developed technology, we will increasingly see Chinese goods setting global standards. Meanwhile, companies in the rest of the world wonder how they can access the fast-rising incomes of China’s 1.3 billion consumers.Now Edward Tse, a leading global strategy consultant, reveals how China got to this point, and what the country’s rise means for the United States and the rest of the world. Tse has spent more than twenty years working with senior Chinese executives, learning firsthand how China’s most powerful companies operate. He’s an expert on how private firms are thriving in what is still, officially, a communist country. His book draws on exclusive interviews and case studies to explore questions such as:What drives China’s entrepreneurs? Personal fame and fortune—or a quest for national pride and communal achievement?How do these companies grow so quickly? In 2005, Lenovo sold just one category of products (personal computers) in one market, China. Today, not only is it the world’s largest PC seller; it is also the world’s third-largest smartphone seller.How does Chinese culture shape the strategies and tactics of these business leaders? Can outsiders copy what the Chinese are doing?Can capitalists really thrive within a communist system? How does Tencent’s Pony Ma serve as a member of China’s parliament while running a company that dominates online games and messaging?What impact will China have on the rest of the world as its private companies enter new markets, acquire foreign businesses, and threaten established firms in countless industries?As Tse concludes: “I believe that as a consequence of the opening driven by China’s entrepreneurs, the push to invest in science, research, and development, and the new freedoms that people are enjoying across the country, China has embarked on a renaissance that could rival its greatest era in history—the Tang dynasty. These entrepreneurs are the front line in China’s intense hunger for success. They will have an even more remarkable impact on the global economy in the future, through the rest of this decade and beyond.” —Portfolio/Penguin{chop}

Tencent Customers Come for the Music, Stay for the Perks

Juro Osawa
Wall Street Journal
Internet giant tries to pull off something few have achieved in China: get people to pay for digital music.

N.B.A. Signs Deal With Chinese Internet Giant

Richard Sandomir
New York Times
The N.B.A. will receive $500 million, with $200 million more expected through a revenue-sharing arrangement between the league and Tencent, a social media powerhouse. 

China Cities Crack Down on Illegal Cabs Using Car-Hailing Apps

Bonnie Cao
Bloomberg
The Chinese capital will impose fines of as much as 20,000 yuan ($3,200) each on 41 unauthorized vehicles that offered rental services via the apps, CNR said Jan. 7.

Billions of Hours Wasted: Candy Crush Comes to China

Paul Mozur
Wall Street Journal
Tencent will promote King Enterainment's highly addictive game on its mobile chat application WeChat, which now has 355 million monthly active users...

Media

03.26.14

A Wrinkle to Those Hot Chinese Tech IPOs

Investors, ready your wallets. In the past week, Sina Weibo, China’s massive microblogging platform with 280 million users, and Alibaba, the operator of China’s largest online marketplace which generated $1.84 billion in revenue in the fourth...

Media

03.17.14

‘Self-Media’ Pushes and Beijing Pushes Back

Michelle Song, twenty-four, studies international relations at Beijing’s prestigious Peking University and lives in a dormitory, so she doesn’t watch television regularly and doesn’t subscribe to newspapers. But this has not hampered her ability to...

Media

03.14.14

The Other Shoe Drops

Welcome to the big leagues, WeChat.For the past year, the mobile chat app WeChat, or Weixinin Chinese, has been the fresh new face in China’s hyperactive social media, stealing millions of members—not to mention mojo—from its wounded but still...

China Approves Pilot Plan to Set Up 3-5 Private Banks

Nick Macfie
Reuters
In a step to boost financial support for cash-starved smaller firms, The China Banking Regulatory Commission (CBRC) has announced its plan to maintain “prudential regulatory standards” in approving private banks. 

China’s Tencent Expands Search Engine Presence With Sogou Deal

Michael Kan
Marketplace
Tencent is spending $448 million to buy a 36.5 percent stake in Sogou, a local search engine owned by Chinese company Sohu.com. As part of the deal, Tencent’s own search engine, Soso, will merge with Sogou, the companies said. 

Monster Zombie Spider to Crush Super Mario’s China Dreams

Bloomberg
Can Nintendo’s Super Mario take on Tencent Holding’s giant, undead Spider? As the country ends a 13-year ban on consoles, a generation of gamers have grown used to a free online model and increasingly migrating to mobile...

Alibaba Duels With Tencent for Online Dominance in China

Lulu Yilun Chen
Bloomberg
Two of China’s richest men are intensifying their rivalry over the world’s biggest Internet market. Both have made purchases and encroached on each other’s established markets in the battle for dominance of the country’s online spending...

Caixin Media

04.15.13

Tencent Lets WeChat’s Rapid Growth Do the Talking

Tencent Holdings Ltd.’s free messaging service, WeChat, has seen its popularity grow among both individual users and businesses, even amid a dispute with the Big Three telecom operators [China Mobile, China Telecom, and China Unicom].Since launching...

WeChat War Escalates, Becomes Showdown Between Government And Internet Users

Rachel Lu
Most Internet users believe that China’s three state-owned telecom operators are pushing for the introdction of a fee scheme to popular messaging app WeChat because their core SMS and voice business are threatened by the app. 

Sinica Podcast

11.12.10

The End of Chinese Internet Civility

Jeremy Goldkorn, Gady Epstein & more from Sinica Podcast
Simmering tensions between Qihoo 360 and Tencent broke into open war last week, as Tencent disabled its chat software on computers running 360 antivirus software. This move was the most aggressive yet in a serious of escalating attacks between the...