After a killing domestic competition between Alibaba and Tencent, the fintech branches of both take their struggle international. Fintech analyst Matthew Brennan looks in TechNode at the strategies of Alipay and WeChat to conquer foreign markets.
Category Archives: finance
State-owned companies are getting a stronger grip on the economy, at the expense of private capital, says economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know®, at the New York Times. The major investment of major tech firm in China Unicom was just the latest move.
Internet giant Tencent might be most known for its loss-making WeChat, but that chat tool is effectively used to generate revenue through gaming, says e-commerce expert Matthew Brennan on QZ. The company reported a stellar performance of the second quarter.
Chinese companies are running for cover as president Xi Jinping’s powerplay is also hitting the economy. China regularly pulls the reins, when too much financial power is flowing outside the state economy, says renowned economist Arthur Kroeber, author of China’s Economy: What Everyone Needs to Know® in the Financial Times.
Alibaba’s Ant Financial has been leading the charge in online financial transactions, but Tencent wants to gain back market share by setting up its own credit sharing system. A much needed move, says fintech expert Matthew Brennan to Pymnts.
The rest of the world looks with amazement at the crazy, booming sharing economy in China, and wonder whether the rest of the world might follow. One of the reasons, people here like to jump in when something is new, says Peking University professor Jeffrey Towson at CBS.
Innovation expert William Bao Bean, managing Director of SOSV’s Chinaccelerator, discusses entering the China market is tough, if not impossible for foreign players in many industries. In the Hutong podcast, William looks at the way he trains Chinese startups for a global play, and foreign startups for the China market.
Online payments have gained market share in China very fast, but that market is dominated by domestic players like Tencent and Alibaba, while foreign ones like Apple are less than a ripple, says fintech expert Matthew Brennan at Pymnts.
The sudden US$9.3 bn restructuring of the Dalian Wanda deals left many observers flabbergasted. Most companies in China simply do not have the experience to execute this kind of large deals, says business analyst Ben Cavender to the BBC.
China’s leadership is setting a new economic agenda halfway July, and much of the measures focus on the reduction on risk, even if – says political scientist Victor Shih at Bloomberg – that means announced financial reforms will be stalled.