, Columnist
Tencent's Greatest Strength: It's Not Alibaba
Pragmatic patriotism is a way for China’s internet giant to skirt the economic slowdown facing ad-based companies.
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To understand how different China’s two largest internet companies are, take a look at the revenue breakdown for Tencent Holdings Ltd.
As a provider of social media, games and financial services, Shenzhen-based Tencent merely dabbles in advertising. E-commerce giant Alibaba Group Holding Ltd. is built on it. That divergence could end up being Tencent’s greatest strength as it seeks to climb out of a prolonged funk that’s seen revenue slow and profit fall.