Connect with us


Alibaba, Tencent Cut External Investments In 2023



Alibaba, Tencent Cut External Investments In 2023

(CTN News) – Data compiled by a Chinese consultancy shows that China’s internet giants, from Alibaba Group Holding to Tencent Holdings, slashed external investments last year due to slowing economic growth, regulatory challenges, and geopolitical tensions.

Tencent – known for its expansive holdings in China’s internet sector – saw the largest reduction in investment deals, data from ITJuzi showed, as Alibaba, Tencent, and Baidu collectively made 102 investments in 2023.

It struck 39 investment contracts with 37 companies last year, down significantly from 95 and 299 deals it made in 2022 and 2021.

Is there anything more exciting than learning more about the latest topics and trends from around the world? In SCMP Knowledge, the new platform that is home to explainers, FAQs, analyses, and infographics, you will be able to find all the answers you are looking for.

In the year ended December 31, Baidu participated in 24 investment deals, down from 52 in 2021. In 2021, Alibaba, the owner of the South China Morning Post, participated in 91 transactions, a decrease from 39 deals in 2022.

During the year 2021, Beijing launched a campaign to rein in the “disorderly expansion of capital” among Chinese internet firms. Following a series of regulatory tightening measures, the country’s internet champions – whose market sizes were once comparable to those of their American counterparts – have virtually ceased expanding their business.

As a result of Tencent’s investments last year, it focused mainly on corporate services, healthcare, and video games. Alibaba and its affiliates have been involved in eight deals in the past year related to advanced manufacturing companies.

As Alibaba faces anemic consumer spending at home, it made four investments in the e-commerce sector, three of which were outside of the country.


Amazon Managers Give Low Ratings Without Explanation

Continue Reading

CTN News App

CTN News App

české casino

Recent News


compras monedas fc 24

Volunteering at Soi Dog

Find a Job

Jooble jobs

Free ibomma Movies