THE CHINA CONNECTION

China tech companies draw up war plans for Asean battleground

In the second of a 7-part BT-Lianhe Zaobao series on China and Asean, we look at the strategies adopted and challenges faced by China’s tech companies in South-east Asia

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As China tech companies scramble to plant their flags in South-east Asia, they face competition from global giants and local players alike. ZB ILLUSTRATION: HO HAN CHONG
Megan Ong, director of Nanyang Polytechnic’s Singapore Institute of Retail Studies (SIRS), expects e-commerce competition to only intensify. PHOTO: MEGAN ONG
PwC Singapore tax partner Lennon Lee sees existing competition in the region as posing a challenge to China tech firms scaling up quickly. PHOTO: PWC
Tham Tuck Seng, PwC Singapore’s China business network and capital markets leader, sees China tech companies’ experience in the consumer market back home as having given them a strong foundation. PHOTO: PWC

Chew Boon Leong

Published Sun, Jun 26, 2022 · 10:00 AM

IN MAY 2014, Alibaba Group announced its acquisition of a 10.35 per cent stake in SingPost for S$312.5 million, to accelerate its e-commerce expansion across South-east Asia. This was Alibaba’s first investment in an overseas postal agency, in a prelude to the entry of China tech giants into the region.

Many investors then thought that Alibaba’s technological and financial clout meant that its domination was just a matter of time.

But reality proved otherwise. After 8 years, notwithstanding its continued expansion in the region, Alibaba is facing even fiercer competition.

China Alibaba Tencent ByteDance The Asean-China Connection

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