Consumer Software
China’s software industry has benefitted from favorable government policies, growing demand associated with overall rising incomes, and general strengthening of government enforcement of intellectual property protection. In August 2020, China’s State Council issued a notice “on the Publication of Certain Policies to Promote the High-Quality Development of the Integrated Circuit Industry and the Software Industry in the New Period.” The policies clearly signaled the importance the Chinese government places on software development, and laid out preferential treatment for software firms when it comes to policies related to taxes, investment and credit, talent acquisition, import and export, and research and development.
Chinese tech firms like Alibaba, Tencent, Huawei, Bytedance, Meituan, JD.com and Baidu all are massive players in China’s tech and software space. While Chinese tech companies like these have been accused of largely copying Western counterparts instead of innovating their way to success, there are key examples of Chinese firms breaking new ground in the software sphere. Tencent and Alibaba both pioneered mobile payments technology with WeChat Pay and Alipay respectively, allowing for streamlined and widespread use of on e-commerce platforms. ByteDance created one of the world’s most popular apps, TikTok, deploying highly effective features and algorithms that result in longer and more frequent use of the app. And companies like Kingsoft and Wondershare that develop office suites are beginning to compete with the likes of Microsoft.
While the COVID-19 pandemic pandemic and China’s Zero Covid policy has largely been a hindrance to economic growth, it has driven unprecedented amounts of activity online, and expanded of various digital sectors including online learning, telemedicine, virtual recruiting and more.
Certain foreign firms continue to play a large role in specific parts of China’s consumer software market, including Microsoft in global document processing and Adobe in certain types of content production and publication. These companies have endeavored to stay in the Chinese government’s good graces, while watching other globe-spanning technology firms like Google, Facebook and Twitter fall victim to bans in the country. However, if geopolitical tensions continue to rise, foreign software firms may find it increasingly difficult to do business in China.
All companies in Consumer Software
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- Company name
- Revenue
- Assets
- Employees
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Beijing Qianxiang Wangjing Technology
- USD 31.8 M
- 409
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Bilibili
- USD 3.04 B
- 12,281
-
Renren
- USD 31.8 M
- 409
-
Tencent Music Entertainment Group
- USD 4.9 B
- 5,966
-
Tencent Music Entertainment (Shenzhen)
- USD 4.9 B
- 4769
-
Guangzhou Netease Computer Systems
- USD 11.3 B
- 28,239
-
Guangzhou Lizhi Network Technology
- USD 230.3 M
- 658
-
Guangzhou Huaduo Network Technology
- USD 2.6 B
- 7,449
-
Qihoo 360
- USD 1.98 B
- 5,824
-
Beijing Weimeng Chuangke
- USD 2.3 B
- 6,147
-
Beijing JD
- USD 114.3 B
- 314,906
-
Qianjin Network Information Technology (Shanghai)
- USD 565.4M
- 8875
-
51job
- USD 565.4M
- 8875
-
Youdao Computer
- USD 840 M
- 6,096
-
ByteDance
- USD 34.3 B
- 110,000
-
Kuaishou
- 21,499
-
NetEase
- USD 13.7 B
- 32,064
-
Meituan
- USD 17.58 B
- 69,205
-
Futu Holdings
- USD 427.0 M
- 1,315
-
Codemao
- USD 395.5 M
- 7,000
-
Tencent
- USD 74.0 B
- 85,858
-
Didi Chuxing
- USD 21.6 B
- 13,000
-
Dingdong Maicai
- USD 1.7 B
- 3,098
-
Weibo
- USD 2.3 B
- 6,147
-
Alibaba (Beijing) Software Services
- USD 3.2 M
-
Xiaohongshu
- 1000
-
JOYY
- USD 2.6 B
- 7,449
-
Xiami Music
- USD 4.8 B
-
JD.com
- USD 114.3 B
- 314,906