Alibaba and Tencent’s Global Strategy

CHINA ADVISORY - Report 07 Nov 2017 by Andrew Collier

Summary
• Domestic Competition. Tight competition for payments within China is pushing Alibaba and Tencent to explore overseas expansion.
• Financial Services. Both companies currently rely on Chinese tourists and business travelers. In future, the easiest entry access is via local joint ventures offering financial services such as micro-loans, which they are now pursuing.
• Target Markets. India and Southeast Asia are two target markets. The U.S. is of strategic interest but domestic political opposition will slow entry.
• Joint Ventures. Due to political and corporate opposition both firms are looking at JVs for market entry.
• Offshore Capital Transfers a Potential Roadblock. The PBOC and SAFE continue to block offshore capital movement but smaller JVs and investments are likely to be approved.

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