Tencent said to join rivals Alibaba, ByteDance in picking Singapore as Asia hub after India, US bans
- Management at China’s largest social media and gaming company had been discussing Singapore as a potential regional hub, sources say
- China’s tech behemoths are increasingly turning to Southeast Asia in the face of growing hostility from the US and other major markets
Management at China’s largest social media and gaming company had been discussing Singapore as a potential regional hub and geopolitical tensions accelerated its plans, according to people familiar with the matter.
Tencent has been considering the shift of some business operations – including international game publishing – out of its home country, according to the people, who asked not to be identified discussing private deliberations.
China’s tech behemoths are increasingly turning to Southeast Asia in the face of growing hostility from the US and other major markets, setting up the region – with its 650 million increasingly smartphone-savvy population – as a key battleground.
Tencent said in a statement that it will open a new office in Singapore to “support our growing business in Southeast Asia and beyond,” in addition to current ones in Malaysia, Indonesia and Thailand.