Chinese language e-commerce titans embark on a spending spree
Competition is spurring gargantuan web firms to reinvest their plush earnings
CHINESE TECH GIANTS, love these in other locations, hold thrived as covid-19 forced shoppers to accumulate their requirements and leisure on-line. This month Tencent, China’s Most great tech company, reported one other stellar location of earnings. Working earnings grew by 20% year on year in the first quarter, to $6.5bn. Rather than take a seat on this cash (or fork it out to shareholders), it has pledged to ramp up investments in its exchange. It isn’t alone. As they vie for customers, China’s tech titans are spending more on study and trend. Even after these costs and administrative charges, they are awash with re-investable cashflow. A slug goes on advertising. However query more to waft into peaceable services and products.■
This text looked in the Enterprise piece of the print edition below the headline “Chinese language tech’s on-line binge”