Firms still committed to US market place

Against the odds of escalating anti-China rhetoric and ongoing uncertainty, Chinese companies continue to be committed to the US market, with 90 percent of the respondents to a survey expecting their investments in the United States to either remain the same or grow over the next year. According to the survey by the China General Chamber of Commerce-USA, the 2020 Annual Business Survey Report on Chinese Enterprises in the US, more than half of the Chinese companies operating in the US have been adversely affected by the escalating anti-China rhetoric in recent months, with 36 percent noticing identifiable financial losses.

Tencent reports 29%growth in Q2 revenue

Chinese internet giant Tencent said on Wednesday that its revenue rose by 29 percent on a yearly basis during the second quarter of the year to 114.88 billion yuan ($16 billion). The company said revenue from fintech and business services exceeded 29.86 billion yuan during the quarter, up by 30 percent from the same period a year ago. Social networking revenue increased by 29 percent to over 26.71 billion yuan. The combined monthly active users of Weixin and WeChat exceeded 1.2 billion by June 30, up by 6.5 percent on a yearly basis.

Xinhua