China's Tencent wants to expand its presence in Singapore — and Chinese tourists are a big reason
Publishing timestamp: 2023-02-02 21:59:36
Summary
Tencent, a Chinese tech giant, has partnered with Singapore businesses such as Grab to make it easier for Chinese tourists to patronize local merchants. WeChat/Weixin provides instant messaging and social media services, and can function as a digital wallet. Grab launched a mini-program within Weixin app which allows users to book its services across over 480 cities in Southeast Asia. Singapore Tourism Board and Mandai Wildlife Group have also partnered with Weixin. However, there are challenges to full recovery such as higher air fares, supply shortages, and global macroeconomic headwinds. Regulatory environment in China is another concern.
Sentiment: MIXED
Keywords: technology, singapore, grab holdings ltd, china, business news, asia economy, tencent holdings ltd,
Source: https://www.cnbc.com/2023/02/03/tencents-weixin-sees-singapore-as-a-strategic-market.html