https://www.scmp.com/rss/517923/feed The latest news on Chinese business magnate, investor and philanthropist Ma Huateng, co-founder and CEO of Tencent, including business news and updates. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Coco Feng Coco Feng ByteDance and Alibaba Group Holding are poised to ratchet up their artificial intelligence infrastructure initiatives, as the global AI arms race continues to intensify. The two companies’ latest moves lend weight to Nvidia CEO Jensen Huang’s recent remarks at the World Economic Forum in Davos, Switzerland, that the world was witnessing the biggest infrastructure buildout in history and that trillions of dollars of infrastructure still had to be built. Beijing-based ByteDance, operator of TikTok... https://www.scmp.com/tech/big-tech/article/3341863/china-tech-giants-bytedance-and-alibaba-ramp-ai-infrastructure-efforts?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3341863/china-tech-giants-bytedance-and-alibaba-ramp-ai-infrastructure-efforts?utm_source=rss_feed Fri, 30 Jan 2026 12:00:05 +0000 Iris Deng Iris Deng Chinese tech firm Tencent Holdings, the country’s most valuable technology giant, beat analysts’ forecasts with a 15 per cent rise in third-quarter revenue, as its artificial intelligence efforts continued to drive growth. Revenue for the Shenzhen-based firm, which runs China’s most popular super app WeChat, reached 192.9 billion yuan (US$27.1 billion), up from 167.2 billion yuan in the same period last year. Net profit increased 19 per cent to 63.1 billion yuan in the September quarter, which... https://www.scmp.com/tech/article/3332631/tencent-posts-19-jump-third-quarter-profit-ai-related-gains-beating-estimates?utm_source=rss_feed https://www.scmp.com/tech/article/3332631/tencent-posts-19-jump-third-quarter-profit-ai-related-gains-beating-estimates?utm_source=rss_feed Thu, 13 Nov 2025 08:56:05 +0000 Coco Feng Coco Feng Tencent Holdings, which operates the world’s largest video gaming business by revenue and Chinese super app WeChat, is seeing its investments in artificial intelligence (AI) pay off, as the Shenzhen-based firm posted its best quarter on record since listing in Hong Kong in 2004. That assessment was highlighted by Tencent co-founder, chairman and chief executive Pony Ma Huateng on Wednesday after the country’s most valuable technology company – with around US$600 billion in market capitalisation... https://www.scmp.com/tech/big-tech/article/3310488/how-ai-investments-are-paying-chinese-tech-conglomerate-tencent?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3310488/how-ai-investments-are-paying-chinese-tech-conglomerate-tencent?utm_source=rss_feed Thu, 15 May 2025 10:00:19 +0000 Coco Feng Coco Feng DeepSeek founder Liang Wenfeng is an “extremely self-disciplined person” who does not take short cuts, according to Li Auto chief executive Li Xiang, as he sheds more light on the entrepreneur behind China’s leading artificial intelligence (AI) start-up. Li, who is also the founder and chairman of the Beijing-based electric vehicle manufacturer, acknowledged how a single meeting last September with Liang enlightened him about DeepSeek’s “best practices” and the importance of “fighting against... https://www.scmp.com/tech/tech-trends/article/3309767/deepseek-founder-liang-wenfeng-takes-no-short-cuts-li-auto-ceo-says?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3309767/deepseek-founder-liang-wenfeng-takes-no-short-cuts-li-auto-ceo-says?utm_source=rss_feed Fri, 09 May 2025 10:24:53 +0000 Iris Deng Iris Deng Pony Ma Huateng, the founder and CEO of Chinese tech giant Tencent Holdings, published a rare commentary in an official newspaper on Thursday, praising Beijing’s recent economic policies for supporting the private sector. The stimulus policies that Beijing started implementing in late September have shown private enterprises the central government’s “strong determination” to sustain its push for economic recovery by focusing on the business pain points and responding comprehensively to market... https://www.scmp.com/tech/big-tech/article/3290509/tencent-boss-pony-ma-praises-chinas-economic-policy-stimulus-private-sector?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3290509/tencent-boss-pony-ma-praises-chinas-economic-policy-stimulus-private-sector?utm_source=rss_feed Thu, 12 Dec 2024 09:00:16 +0000 Iris Deng,Ann Cao Iris Deng,Ann Cao Tencent Holdings saw profits jump 82 per cent in the second quarter, beating analyst estimates, on the back of new video gaming growth and improved advertising performance. Profit reached 47.6 billion yuan (US$6.6 billion) for the quarter ended June, up from 26.2 billion yuan in the same period a year ago. Total revenue for the Hong Kong-listed firm reached 161.1 billion yuan, up 8 per cent year on year from 149 billion yuan. Analysts expected 40.3 billion yuan in profit and 161.3 billion yuan... https://www.scmp.com/tech/big-tech/article/3274455/tencent-profit-jumps-82-beating-estimates-after-strong-video-gaming-ad-growth?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3274455/tencent-profit-jumps-82-beating-estimates-after-strong-video-gaming-ad-growth?utm_source=rss_feed Wed, 14 Aug 2024 08:51:11 +0000 Tencent Holdings is closing down its 10-year-old online education platform with more than 400 million users, as the Chinese video gaming and social media giant continues to cut noncore operations. The professional education service Tencent Ketang, which translates to “classroom” in English, will cease operations on October 1, according to a notice posted on its website, without providing any reason. While users will no longer be able to access new courses on the platform from August 1, they can... https://www.scmp.com/tech/big-tech/article/3268715/tencent-close-online-education-service-tech-giant-cuts-back-noncore-operations?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3268715/tencent-close-online-education-service-tech-giant-cuts-back-noncore-operations?utm_source=rss_feed Mon, 01 Jul 2024 09:00:09 +0000 Tencent Holdings on Thursday launched an artificial intelligence (AI) chatbot app called Yuanbao, as the video gaming and social media giant races to catch up with other Chinese technology companies in developing applications to rival OpenAI’s ChatGPT. Yuanbao can be used to analyse and summarise documents, provide questions and answers, and generate texts and images, similar to the functions of ChatGPT and alternative Chinese AI chatbots. Tencent’s AI assistant was built on the company’s own... https://www.scmp.com/tech/big-tech/article/3264763/tencent-launches-yuanbao-ai-assistant-app-internet-giant-moves-close-gap-other-chinese-chatbots?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3264763/tencent-launches-yuanbao-ai-assistant-app-internet-giant-moves-close-gap-other-chinese-chatbots?utm_source=rss_feed Thu, 30 May 2024 13:59:10 +0000 A China-led team of astronomers has detected an exotic binary system which is home to the smallest star ever discovered. Known as a hot subdwarf, the star is just seven times the size of Earth and is smaller than Saturn, according to researchers from Tsinghua University, Yunnan Observatories as well as Australia, Europe and the US. The tiny star and its larger white dwarf companion are about 2,760 light years from Earth. It was detected with the Tsinghua University-Ma Huateng Telescope for... https://www.scmp.com/news/china/science/article/3252327/china-led-research-team-pinpoints-smallest-star-and-its-ghostly-lone-companion?utm_source=rss_feed https://www.scmp.com/news/china/science/article/3252327/china-led-research-team-pinpoints-smallest-star-and-its-ghostly-lone-companion?utm_source=rss_feed Mon, 19 Feb 2024 02:00:15 +0000 China will have to do more to convince stock investors about the sustainability of the market rally spurred by recent rescue measures after some US$5 trillion of value had been erased over the past three years, according to fund managers. The measures aimed at propping up stocks alone are insufficient to sustain the rally that has led to the recovery of a combined US$377 billion of capitalisation on markets in the mainland and Hong Kong last week, according to Pictet Asset Management and Saxo... https://www.scmp.com/business/china-business/article/3251529/fund-managers-want-beijing-do-more-keep-us380-billion-rally-chinese-and-hong-kong-stocks-going?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3251529/fund-managers-want-beijing-do-more-keep-us380-billion-rally-chinese-and-hong-kong-stocks-going?utm_source=rss_feed Tue, 13 Feb 2024 23:30:22 +0000 Chinese social media and gaming giant Tencent Holdings has acquired a controlling stake in an established local video game studio, a move that fits with the company’s revenue diversification strategy. By assuming control of Beijing-based Wangyuan Shengtang, a 15-year-old video game developer and publisher known for its Swords of Legends series, Tencent will gain access to the premium franchise and diversify its revenue stream, said Zhang Shule, game sector analyst with consultancy CBJ Think... https://www.scmp.com/tech/big-tech/article/3250986/tencent-takes-control-chinese-gaming-studio-behind-swords-legends-franchise-latest-diversification?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3250986/tencent-takes-control-chinese-gaming-studio-behind-swords-legends-franchise-latest-diversification?utm_source=rss_feed Mon, 05 Feb 2024 09:00:14 +0000 Hong Kong stocks capped the worst performance in 11 months after a report showed China’s manufacturing shrank this month, underlining inadequate stimulus to spur recovery. The Federal Reserve is seen holding rates this week, offering no immediate relief to the city’s real estate market. The Hang Seng Index fell 1.4 per cent to 15,485.07 on Wednesday, bringing the retreat this month to 9.2 per cent, the most since a 9.4 per cent slump in February last year. The Tech Index tumbled 3 per cent and... https://www.scmp.com/business/china-business/article/3250370/hong-kong-stocks-set-worst-month-august-china-manufacturing-extends-slump-fed-offer-no-early-relief?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3250370/hong-kong-stocks-set-worst-month-august-china-manufacturing-extends-slump-fed-offer-no-early-relief?utm_source=rss_feed Wed, 31 Jan 2024 02:39:51 +0000 China’s video gaming studios are largely unconcerned by geopolitical tensions when it comes to generating revenue from overseas markets, according to a survey of 33 gaming companies in the country with an overseas presence. Only three of the companies surveyed, or 9.1 per cent, said that “global political and economic turbulence” had a “relatively big” impact on their overseas operations, according to survey results released on Monday. Meanwhile, a third said “excessive competition” had a large... https://www.scmp.com/tech/big-tech/article/3250329/chinese-video-game-firms-continue-look-overseas-growth-shrugging-geopolitical-tensions-survey-finds?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3250329/chinese-video-game-firms-continue-look-overseas-growth-shrugging-geopolitical-tensions-survey-finds?utm_source=rss_feed Wed, 31 Jan 2024 00:00:17 +0000 The chief executive of ByteDance, owner of TikTok and its mainland sibling Douyin, said the company lacks a sense of crisis, which has made the Chinese social media giant slow and inefficient in the face of fierce competition. That introspection was made by Liang Rubo – co-founder of ByteDance who took over as its chief executive when fellow founder Zhang Yiming stepped down in 2021 – at an online speech on Tuesday before the company’s employees, whom he urged to stay “always day one”, referring... https://www.scmp.com/tech/big-tech/article/3250339/bytedance-ceo-wants-whip-employees-shape-they-lack-sense-crisis-amid-fierce-competition-home-and?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3250339/bytedance-ceo-wants-whip-employees-shape-they-lack-sense-crisis-amid-fierce-competition-home-and?utm_source=rss_feed Tue, 30 Jan 2024 13:43:52 +0000 Pony Ma Huateng, founder and chief executive of Tencent Holdings, told employees that the firm’s financial technology unit needs to reduce its share in China’s payments market, as the social media and video gaming giant tries to avoid ruffling the feathers of banks, according to Chinese media reports and a person familiar with the situation. At a staff meeting on Monday, Ma reviewed Tencent’s business segments and said that the payment service was the only one that “was requested to” seek a... https://www.scmp.com/tech/big-tech/article/3250336/tencent-ceo-pony-ma-asks-fintech-unit-cede-share-payments-market-avoid-challenging-banks?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3250336/tencent-ceo-pony-ma-asks-fintech-unit-cede-share-payments-market-avoid-challenging-banks?utm_source=rss_feed Tue, 30 Jan 2024 13:26:29 +0000 Tencent Holdings co-founder, chairman and chief executive Pony Ma Huateng is banking on super app WeChat to help lift the internet giant’s prospects this year, as China’s most valuable tech company has overcome the worst of times brought by economic turbulence and increased regulatory scrutiny. The 52-year-old Ma, who kept a low profile during China’s 32-month crackdown on Big Tech firms, delivered that positive message in a speech before Tencent’s annual staff meeting on Monday at a stadium in... https://www.scmp.com/tech/big-tech/article/3250209/tencent-chairman-pony-ma-sets-confident-tone-internet-giant-2024-amid-wechats-improved-business?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3250209/tencent-chairman-pony-ma-sets-confident-tone-internet-giant-2024-amid-wechats-improved-business?utm_source=rss_feed Mon, 29 Jan 2024 13:26:51 +0000 Honour of Kings, the blockbuster video game from market leader Tencent Holdings, will return to ByteDance’s short video app Douyin as the two internet giants bury the hatchet following the TikTok owner’s decision to exit the sector. The Shenzhen-based social media and gaming giant and Beijing-based ByteDance have fought years of bidding wars over Chinese video game studios and court battles over copyright, but that has ceased with Tencent now seen as a potential buyer of ByteDance’s gaming... https://www.scmp.com/tech/article/3248513/internet-titans-bury-hatchet-tencent-allows-douyin-air-honour-kings-videos-amid-bytedance-retreat?utm_source=rss_feed https://www.scmp.com/tech/article/3248513/internet-titans-bury-hatchet-tencent-allows-douyin-air-honour-kings-videos-amid-bytedance-retreat?utm_source=rss_feed Mon, 15 Jan 2024 13:00:35 +0000 Tencent Holdings, China’s video gaming and social media giant, saw its ubiquitous super app WeChat achieve significant growth in its live-streaming e-commerce business last year, thanks to the popularity of its TikTok-style short video function. WeChat’s short video and live streaming function enabled the platform to record nearly triple gross merchandise volume (GMV) in 2023, according to information released on Thursday during the app’s annual Open Class Pro developer conference held in... https://www.scmp.com/tech/big-tech/article/3248254/tencents-e-commerce-drive-takes-2023-back-super-app-wechats-short-video-and-live-streaming-function?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3248254/tencents-e-commerce-drive-takes-2023-back-super-app-wechats-short-video-and-live-streaming-function?utm_source=rss_feed Fri, 12 Jan 2024 11:30:22 +0000 Pony Ma Huateng, founder, chairman and CEO of Tencent Holdings, has described a 2021 privacy controversy sparked by a photo issue with its all-purpose super app WeChat as a “misunderstanding”, according to a local media report. That year, a tech influencer found that WeChat, China’s largest social media app with 1.3 billion monthly active users (MAUs), was frequently accessing user photo galleries even when not in use, which sparked widespread privacy concerns at the time. Ma described the issue... https://www.scmp.com/tech/article/3247704/tencents-pony-ma-says-2021-wechat-photo-privacy-controversy-was-misunderstanding-was-fixed-update?utm_source=rss_feed https://www.scmp.com/tech/article/3247704/tencents-pony-ma-says-2021-wechat-photo-privacy-controversy-was-misunderstanding-was-fixed-update?utm_source=rss_feed Mon, 08 Jan 2024 14:30:08 +0000 China’s top video gaming companies have taken advantage of an annual industry gathering in Guangzhou on Thursday to pledge their commitment to “social values” to bolster trust with Beijing amid heightened regulatory scrutiny. At the annual event hosted by the Game Publishing Committee of the China Audio-Video and Digital Publishing Association, delegates from gaming giants including Tencent Holdings, NetEase and miHoYo stressed the “social responsibility” of their biggest titles. Su Panhui, a... https://www.scmp.com/tech/big-tech/article/3245170/chinese-game-makers-tencent-netease-tout-social-values-biggest-titles-regulatory-crackdown-weighs?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3245170/chinese-game-makers-tencent-netease-tout-social-values-biggest-titles-regulatory-crackdown-weighs?utm_source=rss_feed Fri, 15 Dec 2023 06:00:13 +0000 Tencent Holdings has quietly made inroads into the Chinese short-video e-commerce industry and is mobilising resources to build up its capabilities to take on ByteDance and Kuaishou, according to local media reports. This year, the social media giant is on track to achieve 100 billion yuan (US$13.9 billion) in e-commerce gross merchandise value (GMV) – the total value of goods sold through its WeChat video and live-streaming channels – according to a report by LatePost on Monday. While the... https://www.scmp.com/tech/big-tech/article/3244790/tencent-set-hit-e-commerce-sales-milestone-2023-closing-short-video-rivals-bytedance-kuaishou?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3244790/tencent-set-hit-e-commerce-sales-milestone-2023-closing-short-video-rivals-bytedance-kuaishou?utm_source=rss_feed Tue, 12 Dec 2023 10:00:20 +0000 Tencent Holdings is closing its live-streaming service Now, as China’s biggest social media and video gaming company continues to consolidate its video businesses. The seven-year-old live-streaming and short video service will officially cease operations at 11am on December 26 due to “business adjustments”, the company said in a notice posted on the website on Tuesday. Now’s webpage version already stopped live streaming on Tuesday and no longer accepts new registrations, but users can still log... https://www.scmp.com/tech/big-tech/article/3243931/tencent-close-live-streaming-service-now-latest-consolidation-move-amid-economic-headwinds?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3243931/tencent-close-live-streaming-service-now-latest-consolidation-move-amid-economic-headwinds?utm_source=rss_feed Tue, 05 Dec 2023 10:30:14 +0000 Lei Jun, the billionaire co-founder and CEO of smartphone giant Xiaomi, has donated a record 1.3 billion yuan (US$183 million) to his alma mater Wuhan University to support one of China’s leading research universities in tech innovation and talent cultivation. The school announced the fund, the largest individual donation ever given to a Chinese university, on its 130th anniversary on Wednesday. At a signing ceremony for the donation attended by Xiaomi executives and university managers, Lei –... https://www.scmp.com/tech/big-tech/article/3243256/xiaomi-founder-lei-jun-donates-us183-million-alma-mater-wuhan-university-tech-innovation-push?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3243256/xiaomi-founder-lei-jun-donates-us183-million-alma-mater-wuhan-university-tech-innovation-push?utm_source=rss_feed Wed, 29 Nov 2023 11:00:23 +0000 Chinese internet giant Tencent Holdings said it has sufficient inventory of Nvidia Corp’s H800 chip for the development of its artificial intelligence (AI) foundation model Hunyuan, downplaying the impact of the US government’s latest semiconductor restrictions, but indicated that it will seek domestic alternatives. “We have enough chips to continue our development for Hunyuan for at least a couple more generations,” Tencent president Martin Lau Chi-ping said in a conference call with analysts... https://www.scmp.com/tech/big-tech/article/3241793/tencent-can-shoulder-latest-us-tech-export-restrictions-internet-giant-has-large-stockpile-much?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3241793/tencent-can-shoulder-latest-us-tech-export-restrictions-internet-giant-has-large-stockpile-much?utm_source=rss_feed Thu, 16 Nov 2023 10:01:08 +0000 Tencent Holdings, operator of China’s biggest social media app and the world’s largest gaming business by revenue, reported a profit decline for the third quarter of 2023 that was still better than market estimates, as the country’s economic recovery continued to face pressure. The Hong Kong-listed internet giant posted a profit of 36.2 billion yuan (US$5 billion) for the three months ended September 30, down 9 per cent from 39.9 billion yuan a year ago. That exceeded the consensus estimates of... https://www.scmp.com/tech/big-tech/article/3241635/tencent-reports-9-cent-decline-third-quarter-profit-sales-continue-grow?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3241635/tencent-reports-9-cent-decline-third-quarter-profit-sales-continue-grow?utm_source=rss_feed Wed, 15 Nov 2023 09:09:21 +0000 Chinese tech founders had the biggest gains in fortunes among the country’s richest people amid an internet sector rebound this year, but the number and overall wealth of Chinese billionaires continued to drop in the face of broader economic headwinds. Four of the top five Chinese billionaires with the biggest wealth increases this year are tech entrepreneurs, including Pinduoduo founder Colin Huang Zheng, Tencent Holdings’ co-founder and CEO Pony Ma Huateng, miHoYo co-founder Cai Haoyu and... https://www.scmp.com/tech/tech-trends/article/3239156/chinese-tech-founders-bounce-back-huruns-2023-rich-list-number-and-overall-wealth-billionaires-drop?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3239156/chinese-tech-founders-bounce-back-huruns-2023-rich-list-number-and-overall-wealth-billionaires-drop?utm_source=rss_feed Wed, 25 Oct 2023 11:30:09 +0000 Chinese social media and video gaming giant Tencent Holdings will soon launch its artificial intelligence (AI) foundation model Hunyuan, which is expected at an event scheduled for Thursday, as the Chinese tech giant jostles for supremacy in the crowded domestic market for large language models (LLMs). The company’s annual Global Digital Ecosystem Summit takes place on Thursday and Friday in Shenzhen, where there will be a speech about the Hunyuan model, according to the agenda. The new model,... https://www.scmp.com/tech/big-tech/article/3233631/tencent-launch-ai-foundation-model-chatgpt-applications-amid-chinese-big-tech-jostling?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3233631/tencent-launch-ai-foundation-model-chatgpt-applications-amid-chinese-big-tech-jostling?utm_source=rss_feed Wed, 06 Sep 2023 14:00:18 +0000 China’s super app WeChat continues to get bigger and more profitable as its TikTok-like short video function generates strong advertising revenue and e-commerce sales, according to the latest data released by the app’s owner Tencent Holdings. The social media app, which started as an instant messaging tool in 2011, has gradually become an all-in-one platform for Chinese smartphone users. Tencent said on Wednesday that monthly active users of WeChat and Weixin – the terms the company uses to... https://www.scmp.com/tech/big-tech/article/3231394/chinese-super-app-wechat-gets-bigger-and-more-profitable-it-takes-tiktok-short-videos-and-lures-ad?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3231394/chinese-super-app-wechat-gets-bigger-and-more-profitable-it-takes-tiktok-short-videos-and-lures-ad?utm_source=rss_feed Thu, 17 Aug 2023 09:00:13 +0000 Tencent Holdings, operator of China’s biggest social media app and the world’s largest gaming business by revenue, reported an 11 per cent increase in revenue for the second quarter of 2023, missing expectations as it looks to find new growth engines amid domestic economic uncertainties. Total quarterly revenue for the Hong Kong-listed internet giant reached 149.2 billion yuan (US$20.5 billion), up from 134 billion yuan a year ago. That was worse than the consensus estimate of 152 billion yuan... https://www.scmp.com/tech/big-tech/article/3231283/tencent-posts-11-cent-increase-second-quarter-revenue-advertising-recovery-it-gets-back-track-growth?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3231283/tencent-posts-11-cent-increase-second-quarter-revenue-advertising-recovery-it-gets-back-track-growth?utm_source=rss_feed Wed, 16 Aug 2023 09:00:42 +0000 Tencent Holdings founder and chief executive Pony Ma Huateng said the internet giant will develop artificial intelligence (AI) technologies and use them for human good, while acknowledging the potential for “huge pain”. “Today, human beings are at the threshold of a new civilisation,” Ma wrote in a preface to Tencent’s sustainable social values report, which was published on Monday. “The new wave of technology represented by AI may promote human well-being to a new stage but could also inflict... https://www.scmp.com/tech/big-tech/article/3231161/tencent-boss-pony-ma-vows-develop-ai-technologies-aid-human-well-being-warning-potential-huge-pain?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3231161/tencent-boss-pony-ma-vows-develop-ai-technologies-aid-human-well-being-warning-potential-huge-pain?utm_source=rss_feed Tue, 15 Aug 2023 13:00:15 +0000 Global Impact is a weekly curated newsletter featuring a news topic originating in China with a significant macro impact for our newsreaders around the world. Sign up now! Finally, the toolbox is checked, but suspicion weighs on. It has been a big few days for numbers, and a busy time for policymakers, as China’s economic growth disappointed. The year-on-year headline reading of 6.3 per cent in the second quarter was the result of a low comparison base a year prior as draconian coronavirus... https://www.scmp.com/economy/china-economy/article/3228795/global-impact-beijing-rolls-out-action-plan-after-china-posts-disappointing-economic-growth?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3228795/global-impact-beijing-rolls-out-action-plan-after-china-posts-disappointing-economic-growth?utm_source=rss_feed Tue, 25 Jul 2023 06:00:40 +0000 Tencent Holdings’ usually low-profile founder and chairman Pony Ma Huateng has sung the praises of the Chinese government’s latest economic guideline, breaking his silence after the gaming and social media empire suffered years of regulatory hostility. The 51-year-old billionaire, who rarely makes public statements, was among the first private entrepreneurs in the country to applaud the 31-point action plan published on Wednesday by the Chinese Communist Party and the State Council, offering... https://www.scmp.com/tech/policy/article/3228347/tencent-billionaire-founder-pony-ma-hails-chinas-new-plan-boost-private-economy-after-tech-crackdown?utm_source=rss_feed https://www.scmp.com/tech/policy/article/3228347/tencent-billionaire-founder-pony-ma-hails-chinas-new-plan-boost-private-economy-after-tech-crackdown?utm_source=rss_feed Thu, 20 Jul 2023 10:30:08 +0000 Chinese social media and gaming giant Tencent Holdings has launched its industry-oriented large language model (LLM) service aimed at a wide array of traditional sectors from finance to media, making it the latest of China’s Big Tech firms to join the ChatGPT-frenzy. The Shenzhen-based company’s cloud arm launched its LLM as a model-as-a-service [MaaS] solution at a technical event held on Monday in Beijing, according to a post published to its official WeChat account. LLMs are deep language... https://www.scmp.com/tech/big-tech/article/3224643/tencent-jumps-chatgpt-bandwagon-rolling-out-llm-corporate-clients-including-state-media?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3224643/tencent-jumps-chatgpt-bandwagon-rolling-out-llm-corporate-clients-including-state-media?utm_source=rss_feed Mon, 19 Jun 2023 12:31:09 +0000 Zhao Jian used to run a massive bookstore in Nanjing that covered 9,000 square metres; now he runs a one-man shop online in front of a camera. The shift to e-commerce has turned into a windfall for the 30-year-old merchant. With the right timing and support from WeChat Channels, Zhao found he could sell as many books in a day as he used to sell in a week at his bricks-and-mortar location that had more floor space than 20 basketball courts. Tencent Holdings has been promoting Zhao’s story for... https://www.scmp.com/tech/big-tech/article/3224369/chinas-booming-one-man-bookstore-wechat-shows-how-tencent-taking-bytedance-live-streaming-e-commerce?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3224369/chinas-booming-one-man-bookstore-wechat-shows-how-tencent-taking-bytedance-live-streaming-e-commerce?utm_source=rss_feed Fri, 16 Jun 2023 23:00:14 +0000 Lily Brown Lily Brown In 2023, the world’s richest man is Bernard Arnault with US$211 billion in the bank, thanks to his ever-growing luxury empire LVMH, per Forbes. Even Tesla and SpaceX CEO Elon Musk is now trailing behind with his US$180 billion net worthwhile Amazon founder Jeff Bezos placed No 3 with his US$114 billion net worth, states the Forbes rich list that was unveiled in April (which we also referenced for the other net worths mentioned in this piece). As Asia continues to grow and dominate the global... https://www.scmp.com/magazines/style/celebrity/article/3221265/10-most-powerful-billionaires-asia-net-worths-ranked-indias-gautam-adani-and-mukesh-ambani-uniqlos?utm_source=rss_feed https://www.scmp.com/magazines/style/celebrity/article/3221265/10-most-powerful-billionaires-asia-net-worths-ranked-indias-gautam-adani-and-mukesh-ambani-uniqlos?utm_source=rss_feed Sat, 20 May 2023 14:35:10 +0000 China’s Big Tech bosses are displaying conflicting views towards artificial intelligence (AI), as some eagerly embrace the advancing technology while others warn against hasty adoption amid the frenzy around ChatGPT. Pony Ma Huateng, founder and CEO of social media and video gaming giant Tencent Holdings, said his company would take a more measured approach in launching generative AI products, despite the potential opportunities. “I think a lot of companies are in too much of a rush, trying to... https://www.scmp.com/tech/big-tech/article/3221167/chinas-big-tech-bosses-take-different-business-approaches-towards-generative-ai-chatgpt?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3221167/chinas-big-tech-bosses-take-different-business-approaches-towards-generative-ai-chatgpt?utm_source=rss_feed Fri, 19 May 2023 10:30:14 +0000 Chinese telecommunications equipment giant Huawei Technologies Co, which continues to struggle under US trade sanctions, has secured a series of broad cooperation pacts with local governments in its home market, boosting the company’s push into traditional industries. Shenzhen-based Huawei on Tuesday signed a “strategic cooperation framework agreement” with the municipal government of Tianjin, a northern metropolis near Beijing, where the company pledged to support the coastal city’s smart... https://www.scmp.com/tech/big-tech/article/3220916/us-sanctioned-huawei-sharpens-focus-home-market-through-new-strategic-cooperation-pacts-local?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3220916/us-sanctioned-huawei-sharpens-focus-home-market-through-new-strategic-cooperation-pacts-local?utm_source=rss_feed Wed, 17 May 2023 14:30:08 +0000 Tencent Holdings, operator of China’s biggest social media app and the world’s largest video gaming business by revenue, reported an 11 per cent jump in revenue for the first quarter of 2023, driven by growth in advertising and game sales amid a gradual rebound in the domestic economy. Total revenue for the Hong Kong-listed internet giant reached 150 billion yuan (US$21.4 billion) in the three months ended March 31, up from 135.5 billion yuan a year ago. That was better than the consensus... https://www.scmp.com/tech/big-tech/article/3220874/tencent-posts-11-cent-rise-quarterly-revenue-buoyed-advertising-and-game-sales-chinas-economy?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3220874/tencent-posts-11-cent-rise-quarterly-revenue-buoyed-advertising-and-game-sales-chinas-economy?utm_source=rss_feed Wed, 17 May 2023 09:25:40 +0000 Tencent Holdings’ short video app Weishi is offering cash and other incentives to woo influencers on rival platforms, including TikTok’s Chinese sibling Douyin, in a bid to win viewer attention in the fiercely competitive market. Weishi, the weaker of Tencent’s two short-video services, has kicked off a “new star” initiative tailored for influencers with at least 30,000 followers on other Chinese short video platforms, which also include Kuaishou Technology and Instagram-like social e-commerce... https://www.scmp.com/tech/tech-trends/article/3220197/chinas-short-video-war-heats-tencent-offers-cash-influencers-rivals-douyin-and-kuaishou?utm_source=rss_feed https://www.scmp.com/tech/tech-trends/article/3220197/chinas-short-video-war-heats-tencent-offers-cash-influencers-rivals-douyin-and-kuaishou?utm_source=rss_feed Thu, 11 May 2023 23:00:15 +0000 Chinese video gaming and social media giant Tencent Holdings has pledged to strengthen support for development initiatives in northeastern Heilongjiang province, one of the country’s less-developed areas, in another sign that Big Tech companies are answering Beijing’s call to help bolster the nation’s economic recovery efforts. That commitment was made by Pony Ma Huateng, co-founder, chairman and chief executive of Tencent, in his speech before a business forum jointly organised by the... https://www.scmp.com/tech/big-tech/article/3218307/tencent-ceo-pony-ma-pledges-support-northeastern-heilongjiang-provinces-development-big-tech-firms?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3218307/tencent-ceo-pony-ma-pledges-support-northeastern-heilongjiang-provinces-development-big-tech-firms?utm_source=rss_feed Tue, 25 Apr 2023 11:00:22 +0000 Chinese tycoon Chen Hongtian’s company has blamed a “short-term cash-flow disruption” after three of his properties in Hong Kong, including a house on The Peak that he bought for HK$2.1 billion (US$268 million) in 2016, were taken over by creditors. “I hope that the public will further understand the correct information,” Chen told the Post on Friday, breaking his silence over the seizure of three of his assets in the city. “Chen Hongtian’s three core properties in Hong Kong are worth about... https://www.scmp.com/business/article/3215608/tycoon-chen-hongtian-blames-short-term-cash-flow-disruption-seizure-hong-kong-properties-including?utm_source=rss_feed https://www.scmp.com/business/article/3215608/tycoon-chen-hongtian-blames-short-term-cash-flow-disruption-seizure-hong-kong-properties-including?utm_source=rss_feed Fri, 31 Mar 2023 12:15:10 +0000 Tencent Holdings is planning to launch a paid subscription service for videos on its flagship app WeChat, allowing content creators to charge users for watching certain videos, as the Chinese social media giant steps up its challenge to short video apps Douyin and Kuaishou. As part of Tencent’s bid to attract more influencers to join its platform, WeChat will let content creators set up a pay-to-watch video section on Video Accounts, the WeChat video section marketed as Channels, the company... https://www.scmp.com/tech/big-tech/article/3215171/tencent-brings-paid-subscription-wechat-channels-race-against-short-video-giants-bytedance-kuaishou?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3215171/tencent-brings-paid-subscription-wechat-channels-race-against-short-video-giants-bytedance-kuaishou?utm_source=rss_feed Tue, 28 Mar 2023 15:20:57 +0000 Tencent Holdings reported a better-than-expected net income of 106.3 billion yuan (US$15.4 billion) in the fourth quarter of 2022, helped by months of rigorous cost-saving measures, as company president Martin Lau Chi-ping is set to rotate off the board. The Hong Kong-listed company’s profit for the three months to the end of December was up 12 per cent from 94.9 billion yuan in the same period the previous year, boosted by a one-off gain of 106.6 billion yuan from its disposal of stakes in... https://www.scmp.com/tech/article/3214436/tencent-beats-fourth-quarter-profit-estimates-president-martin-lau-chi-ping-prepares-rotate-board?utm_source=rss_feed https://www.scmp.com/tech/article/3214436/tencent-beats-fourth-quarter-profit-estimates-president-martin-lau-chi-ping-prepares-rotate-board?utm_source=rss_feed Wed, 22 Mar 2023 09:29:55 +0000 ByteDance and Tencent Holdings both released new apps recently, as China’s Big Tech firms gun for new growth after nearly two years of business retreat and consolidation under Beijing’s tightened regulatory scrutiny. Social media and video gaming giant Tencent earlier this month launched Xiaoe Yuyin, a social media app that includes a voice chat function for users to play video games as teams. Still in testing mode, the app currently targets players of Tencent’s blockbuster multiplayer online... https://www.scmp.com/tech/big-tech/article/3214151/tencent-bytedance-roll-out-new-apps-chinas-big-tech-firms-return-quest-growth?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3214151/tencent-bytedance-roll-out-new-apps-chinas-big-tech-firms-return-quest-growth?utm_source=rss_feed Mon, 20 Mar 2023 12:00:10 +0000 Top executives from China’s largest internet companies met officials from the Ministry of Industry and Information Technology (MIIT), one of the nation’s major technology industry regulators, to discuss ways to push forward the “high-quality development of the internet sector”. The symposium, held on Friday in Beijing, was attended by MIIT deputy head Zhang Yunming, Tencent Holdings founder and CEO Pony Ma Huateng, Baidu co-founder and CEO Robin Li Yanhong, Xiaomi founder and CEO Lei Jun, and... https://www.scmp.com/tech/big-tech/article/3210753/chinas-tech-regulator-meets-top-bosses-didi-baidu-tencent-xiaomi-netease-beijing-eases-crackdown?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3210753/chinas-tech-regulator-meets-top-bosses-didi-baidu-tencent-xiaomi-netease-beijing-eases-crackdown?utm_source=rss_feed Sun, 19 Feb 2023 10:00:20 +0000 Several of China’s biggest names in technology have stepped down from their delegate roles in China’s top political advisory body, which announced its latest list of members on Wednesday. Robin Li Yanhong, co-founder and CEO of internet search and artificial intelligence giant Baidu; William Ding Lei, founder and CEO of China’s second-largest video gaming firm by revenue NetEase; and Wang Xiaochuan, founder of the country’s second-largest search engine Sogou, are not among the 2,172 delegates of... https://www.scmp.com/tech/big-tech/article/3207284/big-tech-cppcc-baidus-robin-li-neteases-ding-lei-no-longer-delegates-chinas-top-political-advisory?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3207284/big-tech-cppcc-baidus-robin-li-neteases-ding-lei-no-longer-delegates-chinas-top-political-advisory?utm_source=rss_feed Wed, 18 Jan 2023 12:15:12 +0000 Tencent Holdings said on Monday that it fired more than 100 employees for bribery and embezzlement last year, and it blocked 23 companies from doing business with the Chinese social media and video gaming giant. The scope of the internal corruption appeared more severe than in 2021, when it affected nearly 70 staff and blacklisted 13 firms in its anti-corruption campaign. Some corruption cases last year included employees of its Platform and Content Group, responsible for Tencent’s news portal,... https://www.scmp.com/tech/big-tech/article/3206944/tencent-fired-more-100-people-and-blacklisted-23-firms-last-year-fighting-bribery-and-embezzlement?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3206944/tencent-fired-more-100-people-and-blacklisted-23-firms-last-year-fighting-bribery-and-embezzlement?utm_source=rss_feed Mon, 16 Jan 2023 06:00:20 +0000 Tencent Holdings is doubling down on its WeChat live-streaming services to take on TikTok and its China cousin Douyin, after the internet giant reported a fourfold increase in its livestreaming user base and growth of more than 800 per cent in live streaming e-commerce gross merchandise value (GMV) in 2022. Tencent, which has been reducing its investment portfolio and laying off workers in the face of market headwinds, will provide more incentives for influencers and merchants to use its short... https://www.scmp.com/tech/big-tech/article/3206298/tencent-doubles-down-wechat-live-streaming-take-tiktok-after-user-base-quadruples-2022?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3206298/tencent-doubles-down-wechat-live-streaming-take-tiktok-after-user-base-quadruples-2022?utm_source=rss_feed Tue, 10 Jan 2023 11:29:34 +0000 Robin Li Yanhong, co-founder and chief executive of Baidu, has warned that the company is burdened by certain loss-making enterprises, which makes it imperative for the Chinese internet and artificial intelligence giant to sharpen its focus on profits. “Many of Baidu’s new businesses are losing money,” Li said in a speech in December that was the subject of an internal memo seen by the South China Morning Post. “After a long time, people feel losing money is justified,” he said, referring to... https://www.scmp.com/tech/big-tech/article/3205905/baidu-founder-robin-li-warns-new-businesses-are-still-bleeding-cash-looks-sharpen-companys-focus?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3205905/baidu-founder-robin-li-warns-new-businesses-are-still-bleeding-cash-looks-sharpen-companys-focus?utm_source=rss_feed Fri, 06 Jan 2023 23:00:19 +0000 China’s video gaming companies led by Tencent Holdings and NetEase, battered by an economic downturn, shrinking user base and regulatory woes, had a good end of year as Beijing doled out a batch of new game licences, raising investor hopes for a fruitful 2023. The National Press and Publication Administration (NPPA), the agency responsible for licensing video games in China, granted 84 new games to domestic developers in December, the largest batch of the year. It also gave the nod to 44... https://www.scmp.com/tech/big-tech/article/3205341/china-gaming-crackdown-2023-be-better-last-year-tencent-and-netease-beijing-eases-game-licensing?utm_source=rss_feed https://www.scmp.com/tech/big-tech/article/3205341/china-gaming-crackdown-2023-be-better-last-year-tencent-and-netease-beijing-eases-game-licensing?utm_source=rss_feed Tue, 03 Jan 2023 00:30:15 +0000