New | China’s social networks set for boom, as advertising spending forecast to jump 56 per cent to US$5.33b this year

Tencent and Sina Weibo poised to benefit as advertisers maneuver to reach consumers through social media

Tencent’s main social networking properties include WeChat, marketed as Weixin on the mainland, and online social networking site Qzone. Photo: SCMP Pictures

Total advertising spending in mainland China’s social networks is predicted to hit a record US$5.33 billion this year, driven by campaigns run on the platforms of internet giant Tencent Holdings and Weibo Corp's microblogging service.

“Tencent and Sina Weibo are the two leaders in China’s social network advertising space on account of their strong user base, engagement and large mobile presence,” eMarketer forecasting analyst Shelleen Shum said.

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