Headquartered in Shenzhen, Tencent is one of China's and the world's largest internet services companies, with interests in media, entertainment, web and mobile communications, advertising, e-commerce and internet banking.

Tencent's Wechat advertisement in Hong Kong. Tension between Tencent and Alibaba over e-commerce is growing. Photo: Thomas Yau

Mobile e-commerce battle heats up in China

The battle between the mainland's internet giants Tencent and Alibaba for dominance in the country's rapidly expanding mobile e-commerce market is a fight that could be worth US$395 billion.