Tencent Holdings Limited, the Shenzhen-based internet and technology giant, showcased a robust performance for the third quarter of 2024, with revenues reaching RMB 167.2 billion (USD 23.9 billion), an 8% year-on-year (YoY) growth. The company’s results reflect strong execution across key business sectors—gaming, social media, cloud services, and financial technology—alongside strategic initiatives to leverage artificial […]
Tencent
WeChat Quietly Mimics Xiaohongshu as Tencent Strengthens Its Core Strategy
In an unexpected yet strategic move, WeChat has been quietly introducing a new content feature, closely resembling the popular Chinese lifestyle platform, Xiaohongshu (Little Red Book). Through subtle UI adjustments, primarily using red dot notifications, WeChat has begun channeling users into a dual-column, image-text format that feels strikingly similar to Xiaohongshu’s interface. This development, which […]
China’s Cloud Service Spending Reaches $9.4 Billion in Q2 2024, Led by AI Integration
China’s cloud infrastructure service spending reached $9.4 billion in the second quarter of 2024, marking an 8% year-on-year growth, according to the latest data from Canalys. The country’s leading cloud providers—Alibaba Cloud, Huawei Cloud, and Tencent Cloud—dominate the market, collectively holding a 71% share. Despite broader macroeconomic conditions slowing growth in some sectors, cloud service […]
China’s Cloud Market Enters a New AI Era
The landscape of China’s cloud services industry is undergoing a seismic shift, propelled by the burgeoning applications of artificial intelligence (AI). As the sector moves beyond the intense competition over large-scale AI models that characterized last year, this year marks the rise of AI-driven applications as the new battleground. This evolution signals a transformative phase […]
China’s Top 50 Global Brands for 2024
The latest report from Kantar BrandZ, “2024 China’s Top 50 Global Brands,” highlights the dynamic growth and global reach of Chinese brands. The study, which has been conducted annually, provides valuable insights into the leading Chinese brands that have made significant impacts in international markets.
Top 50 Mobile Apps in China in Q1 2024
China’s mobile internet is booming, with active users surging past 1.23 billion in March 2024, a jump of over 20 million year-on-year, according to QuestMobile. This growth underscores the continued dominance of mobile in China’s digital landscape. QuestMobile also unveiled its ranking of the top 50 apps for Q1 2024 (below) across diverse categories, providing […]
AI Patent Landscape in China
As China cements its position as a global technology leader, recent data highlights its prowess in artificial intelligence (AI). A new report by IPRdaily, a global intellectual property information service provider, has unveiled the top companies dominating the AI patent scene in China, showcasing the competitive edge and innovative capabilities of these tech giants. Dominance […]
China Digital Landscape 2024 – Entertainment
In 2023, China’s digital content sectors, encompassing online video, live streaming, music, and literature, showcased remarkable growth and innovation. The online video user base expanded to 1.067 billion, with substantial improvements in content variety, especially in micro and short dramas, supported by government guidelines and quality initiatives. Live streaming also saw a significant increase in […]
Tencent Revenues Up 10% in 2023
In a year marked by innovation and strategic foresight, Tencent Holdings Limited not only bolstered its financial standing but also set new benchmarks within China’s digital arena. The conglomerate’s 2023 financial results, alongside a series of strategic undertakings, shed light on the thriving dynamics of China’s technology sector and Tencent’s pivotal role therein.
China’s Tech Giants Lead in Global User Spending, Tencent Tops the Chart
Tencent and ByteDance Secure Top Positions in Global Rankings Data.ai, a leading provider of internet data and analytics, has released its Global Publisher Awards for the year 2024, showcasing the world’s top 50 publishers based on user spending across iOS and Google Play stores in 2023. Leading the pack, Tencent and ByteDance, both hailing from […]
China’s Video Cloud Market Navigates Through Slowdown: Insights from IDC’s 2023 Mid-Year Report
IDC has released its mid-year report, “China Video Cloud Market Tracker, First Half of 2023,” outlining current trends and projections within the industry. In a market contending with a post-pandemic deceleration in consumer entertainment demand and reduced IT expenditure from industry clients, China’s video cloud market faced a 7.0% year-on-year decline, reaching $4.62 billion. The […]
Alipay and WeChat Pay Open up Mobile Wallets to Foreigners in China
In a significant move to facilitate foreign visitors in China, Ant Group and Tencent have announced new developments in their mobile wallet services, Alipay and WeChat Pay, respectively.
China cloud computing market in 2021; top 4 have 80% market share
China’s cloud infrastructure services market grew by 45% to US$27.4 billion in 2021 according to Canalys.
China’s Public Cloud Services Market Growth Slows in H2 2022, Still Shows Promise for Future
China’s public cloud services market (IaaS/PaaS/SaaS) reached $18.84 billion in the second half of 2022, according to the latest report from International Data Corporation (IDC). The IaaS market saw year-on-year growth of 15.7%, while the PaaS market grew at 31.8%. Compared to the first half of 2022, the combined IaaS and PaaS market growth slowed […]
China public cloud market share in 2021; IaaS+PaaS grew by 43% in H2
In the second half of 2021, the overall market of China’s public cloud services (IaaS/PaaS/SaaS) reached US$15.13 billion, of which the IaaS market increased by 40.1% (47.5% in H1) and the PaaS market increased by 55.7% (53.9% in H1) year-on-year, according to data from IDC.