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Growth in Tencent’s superapp defies China’s tech crackdown

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Daily active users of WeChat mini-programs hit 450-million mark in 2021

Tencent Holdings’ WeChat superapp managed remarkable growth over the past year. Picture: BLOOMBERG

Having amassed more than a billion users in China and across the globe, WeChat is the payment and smartphone backbone to Tencent’s sprawling internet empire, which spans social media, gaming and enterprise software. The Chinese behemoth’s signature creation has evolved over the years, offering new features like download-free lite apps and short-video feeds that encroach on the home turf of rivals such as Alibaba Group and ByteDance.

The number of active mini-programs grew 41% in 2021, while the number of mini-programs with payment transactions grew 28% last year. The number of mini-programs offered by overseas merchants jumped 268% over the past two years; online commerce transaction volume surged 897%.WeChat Pay team tripled to 1,200 people from 400 in 2016; it now has more than 1,800 bank and financial institution partners.

 

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