Will Chinese internet companies beat Amazon and Facebook? - China’s latest business and technology news - SupChina

Will Chinese internet companies beat Amazon and Facebook? – China’s latest business and technology news


“This year may finally be the year that global investors put Chinese internet companies alongside American giants like Facebook and Amazon,” Paul Mozur writes (paywall) in the New York Times.

The reason: record-breaking revenues of two companies, internet technology and social media leader Tencent and ecommerce behemoth Alibaba. Mozur notes that both have “valuations that hover around $400 billion,” while Amazon.com and Facebook stand only a little ahead at $470 billion and $490 billion, respectively.

Both Chinese giants have to deal with something their American competitors do not, however: censorship.

  • Tencent, along with other internet companies that run social media platforms, is facing a crackdown on content that authorities said violated cyber security laws, but is more likely politically motivated.
  • Alibaba’s Taobao and four other ecommerce platforms were instructed on August 17 to conduct “self-examination and correction” for allowing the sales of VPNs, Reuters reports.

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Lucas Niewenhuis

Lucas Niewenhuis is an associate editor at SupChina who helps curate daily news and produce the company's newsletter, app, and website content. Previously, Lucas researched China-Africa relations at the Social Science Research Council and interned at the Council on Foreign Relations in New York. He has studied Chinese language and culture in Shanghai and Beijing, and is a graduate of the University of Michigan.