Chinese technical giants help exporters' efforts to domestic expansion

Copyright © HT Digital Streams Limit all rights reserved. Jiahui Huang, The Wall Street Journal 1 Min Read 17 Apr 2025, 01:23 PM IST Tencent said it launched a program to support Chinese exporters in the domestic market via its WeChat-e-trading facilities. Photo: Jade Gao/Agence France-Presses/Getty Images Summary Tencent and BiteDance’s Douyin helps sell borderline traders in the domestic market, as the trade war between the world’s two largest economies escalates. Chinese technical giant Tencent and BiteDance’s Douyin helps sell borderline traders in the domestic market, as the trade war is escalating between the world’s two largest economies. Tencent said on Thursday that it had launched a program to support Chinese exporters in the domestic market via its WeChat-e-trading facilities. The program is aimed at a 100 billion yuan, which is equivalent to $ 13.69 billion, sales, it says. With this program, Chinese exporters can open online stores on WeChat using a special channel, and in some cases they can start working without deposits. The company will also offer discounts and subsidies to support Chinese exporters selling with WeChat’s direct functions. Tencent also said that it will help the middle and small businesses to expand in the Southeast Asian markets using its Tenpay Global platform, a global payment platform for borderline border transmitting. Similarly, BiteDance’s Douyin, a Chinese version of Tiktok, said late Wednesday that it launched a program to help exporters expand in domestic markets and reduce their reliance on overseas orders. The company said it would provide specific channels for Chinese exporters to start stores on Douyin and lower their operating costs. Douyin said it would offer this users’ capital credit of up to 1 million yuan and offer 45 days of interest-free financing, within certain limits, eligible business owners. These programs came when China’s biggest technology companies moved to support Beijing amid the US China trading tension. Last week, JD.com said it plans to spend 200 billion Yuan the following year to help export -oriented manufacturers selling their products in the local market. Alibaba’s grocery chain Freshippo, also known as HEMA, said last week that it opens a 24-hour-fast on-board channel for Chinese exporters. The company is also planning to start a dedicated export-to-household products on its platform. Write to Jiahui Huang at [email protected], catch all the business news, market news, news reports and latest news updates on live currency. Download the Mint News app to get daily market updates. More Topics #china #Genitstate #donald Trump Mint Special