China Esports Weekly: Tencent Global Esports Annual Summit 2021 Planned, Worlds 2020 Contributed $4.6M to Shanghai Economy

China Esports Weekly: Tencent Global Esports Annual Summit 2021 Planned, Worlds 2020 Contributed $4.6M to Shanghai Economy

Mark Ren, COO of Tencent Holdings. (Source: Tencent Esports) Last week was significant for the China esports industry and for Tencent Esports in particular. Not only did a game publisher reveal its tournament and esports business summit plan, but solid achievements from Chinese esports events were also reported, according to a new report from the…

Alibaba’s Sales Surge Overshadowed by First Operating Loss As Public Firm After $2.8 Billion Antitrust Fine

Alibaba’s Sales Surge Overshadowed by First Operating Loss As Public Firm After $2.8 Billion Antitrust Fine

The e-commerce giant posted an expectations-beating 64% surge in quarterly revenue of 187.4 billion yuan ($28.6 million). (Source: Sinatech) Chinese tech and e-commerce giant Alibaba Group Holding fell into loss-making territory for the first time since going public in 2014 after being slapped a massive anti-monopoly fine by regulators.The record 18.23 billion yuan ($2.8 billion)…