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China IPOs: Why Chinese Companies List Overseas

July 30, 2018 By Li Wei

For many years, China’s emerging companies, especially those in the internet sector, have relied on foreign capital. Alibaba and Tencent were nurtured by overseas venture capital, and were eventually listed abroad. These two companies have today become world-class giants. The market value of Alibaba was $495 billion as of late May, while Tencent’s valuation was $605 billion. This puts them among the world’s top 10 most valuable companies. The success of China’s leading tech companies is an understandable source of pride to many in China. But for China’s policymakers, a question presents itself: why do so many outstanding Chinese companies end up going public overseas?

Filed Under: All Articles, China, Economy, Finance, Infographics Tagged With: Alibaba IPO, Financing, IPO, Tencent

Tencent Looks to Games, WeChat and AI to Boost Ad Revenue

January 16, 2018 By Chris Russell

Chinese tech giant Tencent surpassed Facebook in market value this November, and is the first Asian company worth more than $500 million. Unlike Facebook, which earns 97% of its revenue from advertising, online advertising only represents 16.9% of Tencent’s revenue, according to the company’s Q3 2017 report–lagging behind domestic competitors like Alibaba in terms of ads gain. Determined now to gain a larger slice of the digital advertising market, Tencent focuses on improving targeting and algorithms to intensify ads on its ubiquitous platform WeChat while not undermining the user experience, as well as leveraging opportunities in the company’s other products and services, including mobile games.

Filed Under: All Articles, China, Consumers, Digital Economy, Technology Tagged With: Advertising, Game Industry, Tencent, WeChat

The WeChat Economy, From Messaging to Payments and More

August 28, 2017 By Matthew Fulco

WeChat is not just a messaging app. With nearly a billion active users, it is used to make voice calls, play games, read news, hail cars and more. With WeChat Pay, people use the app to send money and pay bills by scanning a QR code, and friends and families use WeChat to send lucky money during festivals. For many, WeChat is already indispensable. How did the company grow? What were the key decisions and strategies? In the fierce competition between WeChat pay and Alibaba’s Alipay, who will win? There are many questions about WeChat, but the app’s success is certain—for now.

Filed Under: All Articles, Digital Economy, Know China, Mobile Commerce, Technology Tagged With: Alipay, online payment;, QR codes, Tencent, WeChat

Live-streaming in China Surges in Popularity Despite Controls

December 5, 2016 By Yuanyuan Deng

Live streaming in China is not new. Even back in 2005 there were live streaming businesses based on the PC, but it was not until 2014 that this industry really started to take off in the Chinese market, as China’s almost 700 million internet users became aware that mobile live-streaming is fun and can even be profitable. China’s internet giant companies have long recognized that live streaming is going to be the new portal to bring in traffic, so just like their competition in other battle fields, Baidu, Tencent and Alibaba have spread their tentacles to live streaming and mapped out their respective businesses.

Filed Under: All Articles, Digital Economy, Infographics, Know China, Technology Tagged With: Alibaba, Baidu, live-streaming, Tencent

Welcome to the WeChat Galaxy

January 13, 2016 By Matthew Fulco

Tencent has used WeChat to create a mobile ecosystem for China, which has more smartphone than PC users. By steadily integrating value-added services into a social media app, Tencent has made it increasingly useful to both consumers and businesses. That means WeChat has more opportunities than other messaging apps to make money. In contrast to Facebook, which earns most of its revenue from advertising, WeChat monetizes by integrating online payment functions that encourage shopping through the app and selling games. In the second quarter, Tencent recorded RMB 4.5 billion in revenue from games purchased through WeChat and its older instant messaging app QQ, up 11% year-on-year.

Filed Under: All Articles, Digital Economy, eCommerce, Know China, Mobile Commerce Tagged With: Mobile Apps, Tencent, WeChat

The Online Sector in China: When Rivals Work Together

January 11, 2016 By Li Hui

In 2014 rival taxi apps Didi Dache and Kuaidi Dache engaged in a fierce price war that left onlookers stunned. According to multiple sources, Didi and Kuaidi altogether splashed over RMB 2 billion (approx. $376 million) on subsidizing customer ride fares. Yet in early 2015, the two bitter rivals announced their decision to merge. It made little sense. They couldn’t possibly have buried the hatchet that soon. Cases like Didi-Kuaidi are becoming common in China’s internet industry, spanning areas like online travel, group buying and classified advertisement websites. Why is China’s online sector witnessing a series of frenzied mergers, acquisitions and partnerships between sworn rivals?

Filed Under: All Articles, Entrepreneurship, Know China, Mergers and Acquisitions Tagged With: Alibaba, Baidu, Ctrip, Dianping.com, Didi Dache, Meituan, Mergers and Acquisitions, O2O, Qunar, Tencent

Alibaba, Baidu and Tencent and Their New Online Banks

December 2, 2015 By Deng Yuanyuan

To boost the economy and help small and medium enterprises get capital more easily, the Chinese government is encouraging non-government entities to invest in financial institutions, even allowing private companies to open their own banks. When the government announced its decision to grant five banking licenses for private banks earlier this year, the big three tech companies—Tencent, Alibaba and Baidu—jumped at the opportunity. Given the technological expertise of their backers, these online banks are able to leverage things like big data and cloud computing to assess credit worthiness and tailor the user experience. But can they outmaneuver traditional banks?

Filed Under: All Articles, Banking, Finance, Infographics Tagged With: Alibaba, Baidu, Banks, Mobile Banking, Tencent

How BAT and Xiaomi are investing in other companies

November 10, 2015 By Li Hui

China’s internet world is ruled by three big players: Baidu, Alibaba and Tencent, collectively known as BAT. The three companies generated revenues of $20 billion in 2013 and $8.16 billion in the third quarter of 2014. The big three account for a significant, and perhaps disproportionate, share of China’s internet market. Another technology company that has risen to prominence pretty quickly is Xiaomi. BAT and Xiaomi are quickly making inroads into new areas outside their core business—by either investing in or acquiring companies. Take a look at the brand and companies that are backed by these four companies.

Filed Under: All Articles, Digital Economy, Infographics, Mergers and Acquisitions, O2O Tagged With: Alibaba, Baidu, Didi Dache, Infographics, Investment, Kuaidi Dache, Mergers and Acquisitions, Tencent, Uber, Xiaomi

The New Empire Builders: China’s Digital Conglomerates

September 22, 2015 By Colin Shek

With companies like Baidu, Alibaba and Tencent branching out into new areas, China is witnessing the rise of a new breed of digital conglomerates.

Filed Under: All Articles, China, Digital Economy, eCommerce, Know China, Mergers and Acquisitions, Retail, Winning in China Tagged With: Alibaba, Baidu, eCommerce, Internet Companies, Jack Ma, Slider, Tencent

A (Big) Fish Called Wanda: Wang Jianlin’s Business Empire

September 17, 2015 By Li Hui

Wang Jianlin’s sprawling business conglomerate, the Dalian Wanda Group, has its fingers in many pies: from real estate and retail to sports and entertainment.

Filed Under: All Articles, Infographics, Know China, Mergers and Acquisitions, Movie Industry, Real Estate, Tourism, Winning in China Tagged With: Baidu, eCommerce, Infographic, Investment, Real Estate, Slider, Tencent, Tourism, Wanda

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Information, analysis, and interviews about the Chinese economy and doing business in China, from the people who know it best. Presented by the Cheung Kong Graduate School of Business, China's leading business school.


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