BEIJING: Chinese tech giants Tencent and Douyin, TikTok’s sister app in China, have in the past two days launched programs to help Chinese exporters sell their goods domestically, amid an escalating US-China trade war.
Tencent said today its program aims to create 100 billion yuan in sales for China’s beleaguered export-dependent firms by helping them set up domestic-facing operations, as well as tap Southeast Asian markets.
Tencent and Douyin, which operate large e-commerce platforms, are the latest Chinese conglomerates to announce measures to help the country’s exporters, which have been frozen out of the US market as a result of high tariffs imposed by the Trump administration on all Chinese imported goods.