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In 50 Words: Tencent boosts WeChat Channels to challenge ByteDance in ecommerce
Tencent is promoting its WeChat Channels short-video platform and incentivising merchants to use the platform for live streaming commerce. The Shenzhen-based company is reducing its “technology support fee” for merchants during a shopping festival in a bid to increase its online retail market share in China. This is in part a response to ByteDance’s Douyin, Alibaba, and others monetizing user attention through sales.
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