Chinese internet giant Tencent will only take its social networking platforms, music and gaming services to an international audience if it believes there is a gap in the market it can fill, a senior said on Thursday.
Google will invest $550 million in Chinese e-commerce powerhouse JD.com, part of the U.S. internet giant’s efforts to expand its presence in fast-growing Asian markets and battle rivals including Amazon.com.
French retailer Carrefour, which opened its first high-tech store in Shanghai last month in partnership with tech giant Tencent, sees China as the ideal location to develop new methods for attracting shoppers.
Tencent Holdings, which owns China’s top social media app WeChat, has scrapped an investment of up to 30 million yuan ($4.7 million) in a content start-up that has been criticized for its handling of copyright issues.
China plans to use cornerstone investors to help its overseas-listed tech giants such as Alibaba and Xiaomito sell shares at home, on worries the size of the deals could overwhelm mainland markets, three sources said.
Robust earnings from Tencent Holdingssent its market value surging by as much as $34 billion on Thursday, helping the Chinese technology giant briefly reclaim the mantle of Asia’s most valuable listed company.
Tencent clocked a better-than-expected 61 percent jump in quarterly net profit and its first sequential gross margin rise in nearly three years, driven by a jump in mobile gaming revenue and investment gains.
Chinese tech firms, including Lazada's top investor, Alibaba, have poured at least $6 billion into every aspect of Indonesian e-commerce, a market that is set to grow from a current $7 billion to $63 billion by 2027.
Walmart Inc said in a filing with a U.S. regulator that it may take India’s Flipkart public in as early as four years, detailing for the first time a potential listing timeline for Walmart’s largest-ever acquisition.