Facebook may be looking to replicate a major feature from one of China's top apps

Facebook is reportedly pushing into payments on WhatsApp, a move analysts said is aimed at replicating the success of WeChat in China. Tencent-owned WeChat is China’s most popular messaging app and has a mobile payments feature known as WeChat Pay. Analysts said the difference between China and other markets for payments could make it difficult…

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Tencent says it will not scale back on investments this year

China’s Tencent Holdings will not scale back on investments this year after a record high of 16 companies it invested in launched IPOs last year, President Martin Lau said at a closed-door investor conference in Beijing. Tencent invested in more than 700 companies in the past 11 years, Lau said, and 63 of those are…

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The biggest trend in Chinese social media is dying, and another has already taken its place

Live-streaming has been a dominant trend in Chinese social media, fueling fortunes and stardom. Users are now, however, increasingly migrating away from such platforms. Instead, short videos — typically lasting between 15 seconds to a few minutes — are becoming one of the main methods of communication. Douyin, one of the most popular Chinese short…

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WeChat Tests Blockchain Technology for Company Reimbursements

China’s popular payment and communication platform WeChat aims to ease employee reimbursements with blockchain. Tencent, the major tech company behind WeChat, is looking at blockchain technology in order to ease company reimbursements. According to a recent blog post, the first transaction to bypass the multiple manual verification steps was completed in a Shenzhen restaurant. “Today,…

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Tencent nearly doubled its profit in the fourth quarter on investment gains

Net profit for the three months ended December 31 rose 98 percent. Monthly active users of the social media mobile app WeChat exceeded 1 billion after the Chinese New Year in February, up from 980 million at the end of September. With a market capitalization of around $560 billion, Tencent is Asia’s most valuable listed…

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