During the 1980s and 1990s, one of the most read books in China was The Third Wave by American writer and futurist Alvin Toffler. The biggest takeaway for China was that it could not miss the third wave of transformation of human society, which involves the internet and information technology, after being left behind during …
China celebrates 30th anniversary of country’s first internet connection in sign of support for the sector A government-backed forum commemorating the 30-year anniversary of China’s access to the global internet brought together the country’s regulators and Big Tech executives, including Tencent Holdings founder Pony Ma Huateng, on Saturday as Beijing moves to boost the private …
(Bloomberg) — Tencent Holdings Ltd. plans to more than double its stock buyback program to at least $12.8 billion in 2024, mollifying investors concerned about a gradual dissipation of growth during a Chinese economic downturn. Most Read from Bloomberg China’s largest internet company joins rivals from Alibaba Group Holding Ltd. to JD.com Inc. in ramping …
Alipay’s annual cumulative transaction limit for foreign visitors has also been increased to US$50,000, up from the previous US$10,000 limit, in line with a new People’s Bank of China policy, the group said. 02:40 How mobile payments impact people’s lives in China How mobile payments impact people’s lives in China Tencent on Thursday said foreign …
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. …
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 Shenzhen, the company’s home city in southern Guangdong province. Founded in November 1998, Tencent must find new lifelines in its video …
“In the future, internet companies need to be more open-minded and inclusive to promote truly win-win cooperation in the industry,” the Securities Times article said. Increased collaboration between China’s major internet companies are expected to not only benefit consumers, but help further expand the industry, according to state media. Photo: Shutterstock While China’s gross domestic …
(Yicai) Dec. 11 — South African investment firm Naspers, which is Tencent Holdings’ biggest shareholder, reduced its stake in the Chinese internet behemoth by 513,500 shares on Dec. 7, but the next day Tencent countered by repurchasing more than twice as much to keep its stock price steady. Tencent’s share price [HKD:0700] closed up 0.52 …
By Yelin Mo and Fanny Potkin BEIJING/SINGAPORE (Reuters) – Chinese chip designers including Tencent Holdings are aggressively pitching their AI chips as alternatives to Nvidia’s, hoping U.S. export restrictions will prompt clients to switch, said four people familiar with such discussions. California-based Nvidia commands as much as 90% of China’s $7 billion market for chips …
Despite bleeding billions over a couple of years, Facebook parent company Meta has been injecting cash in its metaverse project, which includes manufacturing and selling VR headsets. The company may now have a chance to boost the sales of the niche gear by selling it in China. According to a report by the Wall Street …