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China will have to do more to convince stock investors about the sustainability of the market rally spurred by recent rescue measures, fund managers Pictet and Saxo say.
Chinese social media and gaming giant Tencent Holdings has acquired a controlling stake in a 15-year-old local video game studio, a move that fits with the company’s revenue diversification strategy.
Bearish investors dominated the local stock market in January, as China’s lack of stimulus showed up in weak manufacturing data. With the Fed seen on hold, there will not be any early relief for the city’s property market.
Only three of 33 Chinese video gaming companies said ‘global political and economic turbulence’ had a ‘relatively big’ impact on overseas operations, according to industry survey.
Chief executive Liang Rubo said ByteDance has become slow and inefficient in the face of increased competition.
The founder also warns staff to focus on ‘safety, not speed’ when venturing into new fintech services like loans and insurance, according to Chinese media reports and people familiar with the situation.
The Shenzhen-based internet giant must find new lifelines in its video gaming and social media operations, Ma told employees at the firm’s annual meeting.
The retreat by ByteDance from the mainstay of Tencent’s business is likely to bring the curtain down on a series of online spats and court battles between two internet giants.
Tencent has bet on swiftly building its online retail business on the back of the mainland’s vast number of WeChat users, estimated at 1.34 billion.
The 2021 WeChat photo controversy sparked widespread privacy concerns at the time, although Ma says issue was fixed with an update.
China’s top video game studios bragged at an industry gathering about including Chinese cultural elements and ‘patriotic spirit’ in their titles.
The Shenzhen-based tech giant is on track to sell 100 billion yuan worth of goods on WeChat Channels this year, according to Chinese media.
Tencent, China’s biggest social media and video gaming company, is closing its live-streaming service Now, as the company continues to consolidate its video businesses.
Lei Jun donated US$183 million to Wuhan University, a leading Chinese research institution, on its 130th anniversary on Wednesday.
The internet giant was the first to put in orders for Nvidia’s much-coveted H800 chip, which was designed for export to China to comply with earlier US tech restrictions.
Chinese internet giant Tencent Holdings reported a profit decline for the third quarter of 2023, still ahead of market estimates, as China’s economic recovery continued to face pressure.
Chinese tech founders moved up in this year’s Hurun Rich List although macroeconomic headwinds in China kept overall wealth gains in check.
Tencent executive Li Qiang said the Hunyuan foundation model will be ‘formally released’ soon, with an event to be held on Thursday.
WeChat’s short video service Channels brought in US$411.5 million in ad revenue in the second quarter as the app’s monthly users hit 1.327 billion.
Tencent has been looking for new growth opportunities, including joining the stampede to launch ChatGPT-like products.
Tencent boss Pony Ma wants AI tech to promote human good and company has already deployed AI technologies to applications that aim to solve social issues.
In this edition of the Global Impact newsletter, we take the temperature of the world’s second-largest economy and looks at what can and will be done.
In an article published just hours after China unveiled an action plan to invigorate its economy, Ma pledged on behalf of the internet industry to support the government’s latest strategies.
Together with clients, Tencent has launched over 50 LLM-enabled industrial solutions covering over 10 industries.
Tencent is looking to replicate the success of a live-streaming bookseller on WeChat Channels for other merchants as it looks to grow its short video platform.
From India’s energy magnates Gautam Adani and Mukesh Ambani to China’s Zhong Shanshan and Pony Ma Huateng, which billionaires in Asia are giving back big?
While some company leaders eagerly embrace the advancing technology, others warn against hasty adoption amid the frenzy around generative AI.
Huawei has entered into strategic cooperation agreements with the governments of Tianjin and Sichuan provinces, as well as Guangzhou.
Tencent, China’s biggest social media and video gaming company, reported an 11 per cent jump in revenue for the first quarter of 2023, driven by growth in advertising and game sales.