Chinese Tech Giants Rally to Boost Domestic Sales Amid Trade War

Chinese technology giants Tencent and Douyin have launched initiatives to support domestic sales for exporters affected by the U.S.-China trade war. Tencent aims to generate 100 billion yuan for struggling exporters by facilitating domestic and Southeast Asian market access, responding to trade barriers faced in the U.S.

In response to the intensifying trade conflict between the U.S. and China, major Chinese tech companies Tencent and Douyin are stepping up efforts to assist the nation's exporters. Over the past few days, these firms have unveiled new programs designed to boost domestic sales for exporters heavily impacted by escalating tariffs.

Tencent announced its ambitious plan to generate 100 billion yuan, equivalent to $13.7 billion, for Chinese exporters. This initiative focuses on helping companies establish domestic operations while also expanding into Southeast Asian markets. The program serves as a lifeline for export-dependent businesses struggling against the barriers of the U.S. market, where high tariffs have stymied access.

These actions underscore a broader trend among Chinese corporations aiming to alleviate the adverse effects of global trade tensions by creating new avenues for domestic growth and regional expansion.

(With inputs from agencies.)