The global coronavirus pandemic may have been a disaster for the global economy, but it was a boon for China’s largest technology companies.
Tencent Holdings, the Chinese gaming giant and owner of WeChat, is flirting with a market value of US$1 trillion and has made its founder, Pony Ma Huateng, the second richest man in China.
The brand value of Alibaba, Tencent’s rival company, jumped by 108% to US$39.2 billion as the world’s second-fastest-growing brand, behind only Tesla’s 158% increase, according to a 2021 report by Brand Finance, a British consultant.
“Alibaba.com has benefited from the unprecedented surge in demand, as consumers turned to online shopping during the pandemic,” Brand
Jan 27, 2021