Cheap fare helps Tencent beat China's growth

Hong Kong

IN China's slowing economy, billionaire Ma Huateng is finding growth by supplying cheap entertainment to the masses.

Smartphone games for the billion users of the WeChat and QQ messaging applications and free streaming of HBO's Game of Thrones are expected to drive a 28 per cent surge in sales for Mr Ma's Tencent Holdings. That's four times faster than the rate of domestic economic expansion as China grows at the slowest pace in 25 years.

While WeChat was once just for instant messages, Mr Ma has made the app part of everyday life for millions in China by adding the features of a microblog, social network and e-commerce platform. Along with streaming of HBO shows and NBA games, Tencent is finding content a durable source of revenue as it competes for In…