China’s tech giants continue to post impressive growth, investing in their own businesses as well as startups. Investment in the latter has propelled over 100 startups to valuations of over $1 billion.
June 8, 2017
‘In the search for new growth in the world’s biggest internet market, China’s three tech titans are spending billions of dollars on dozens of fronts to find the next big thing.
The latest battleground is China’s lifestyle trends, with companies investing in apps that offer a variety of services including food, face-lifts, child care and bike sharing. E-commerce giant Alibaba Group Holding Ltd., social-media champion Tencent Holdings Ltd. and search engine Baidu Inc. are betting that one-stop shops that match merchants with consumers represent the next wave of consumption.’