The United States has fired a new salvo in its rivalry with China, ordering sweeping restrictions against Chinese-owned social media stars TikTok and WeChat.
The United States has fired a new salvo in its rivalry with China, ordering sweeping restrictions against Chinese-owned social media stars TikTok and WeChat. Here are some key facts about the platforms: WeChat, known as «weixin» or micro-message in Chinese, belongs to tech giant Tencent and has grown to become ubiquitous in daily life across China since its 2011 launch. It has more than a billion monthly users and is a «super app» used for everything from messaging to ride-hailing and mobile payments, while also serving as a social media platform. Tencent surpassed Facebook’s net worth after it became the first Asian firm to be valued at more than $500 billion (roughly Rs.37.48 crores) in 2017. The Hong Kong-listed company now has a market capitalisation of HKD 5.32 trillion (roughly Rs.51.47 lakh crores), compared with Facebook’s $756 billion (roughly Rs.56.65 crores). While WeChat is available in various languages, its main user base is in mainland China, where potential rivals such as Facebook’s WhatsApp messaging service are barred from competing.
