Alibaba, Tencent mull over opening up services to each other – WSJ

FILE PHOTO: The Alibaba Group logo is seen during the company's 11.11 Singles' Day global shopping festival at its HQ in Hangzhou, Zhejiang province, China
FILE PHOTO: The Alibaba Group logo is seen during the company's 11.11 Singles' Day global shopping festival at its headquarters in Hangzhou, Zhejiang province, China, November 11, 2020. REUTERS/Aly Song/File Photo

July 14, 2021

(Reuters) – China’s two online giants Alibaba Group Holding Ltd and Tencent Holdings Ltd are gradually considering opening up their services to each other, according to a Wall Street Journal report on Wednesday.

It comes days after China’s crackdown on a number of technology companies with overseas listings including Didi Chuxing, Tencent and Alibaba.

Both Alibaba and Tencent are working on new plans separately to loosen up restrictions including introducing Tencent’s WeChat Pay to Alibaba’s e-commerce marketplaces, Taobao and Tmall, the WSJ report added, citing people familiar with the matter.

Alibaba did not immediately respond to a request for comment while Tencent could not be immediately reached.

(Reporting by Tiyashi Datta in Bengaluru; Editing by Rashmi Aich)