High-flying internet firms, including Tencent and Kuaishou, hand out stock and other bonuses ahead of Lunar New Year amid competition for top talent

  • Tencent and Kuaishou are giving some workers 100 shares of stock worth thousands of dollars ahead of the Lunar New Year as tech firms compete for talent
  • Huawei and gaming companies like Lilith Games and Yoozoo also offer bonuses and incentives in stark contrast to other industries hurting from the pandemic

After Tencent said it would give some employees a bonus of 100 shares of stock, Kuaishou said it would do the same. Tech companies are looking for new incentives to keep talent in an industry facing increased competition in China. Photo: Reuters

Chinese tech companies, including Tencent Holdings, Kuaishou and Huawei Technologies Co, are rewarding employees with bonuses ahead of the Lunar New Year holiday in a bid to retain talent in an industry that heated up during the stay-at-home economy spurred by the Covid-19 pandemic last year.

Tencent, the world’s biggest gaming company and developer of China’s ubiquitous super app WeChat, was the first to confirm that it is rewarding some of its employees with 100 shares of stock. That amounts to a bonus of HK$75,700 (US$9,765) based on Thursday’s closing price, with Tencent stock trading at prices 85 per cent higher than last year.
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