Dissecting the success and strategies of Chinese internet firms as more of them venture overseas.
You could say last year was a good year for China’s internet titans. E-commerce behemoths Alibaba and JD.com notched a record US$139 billion in sales on Single’s Day, the world’s largest shopping event. Social media phenomenon TikTok, owned by Beijing-based ByteDance, was the world’s most downloaded app, overtaking previous favourite WhatsApp. Tencent, the biggest social networking and gaming company in China, reported a 16 percent year-on-year rise in revenue, to 560 billion yuan.