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Alibaba, Tencent in race to be China's one-stop online shop

They are out to win the digital loyalty of a tenth of the world's population

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China's online firms, including Tencent and Alibaba (above), are looking over each other's shoulders to ensure they don't miss out on the next big thing.

BT_20150122_CPSTOP22_1471119.jpg
China's online firms, including Tencent (above) and Alibaba, are looking over each other's shoulders to ensure they don't miss out on the next big thing.

Shanghai

ALIBABA and Tencent spent more than US$8 billion last year alone backing often strikingly similar ventures, as the Chinese Internet giants race to create online one-stop shops to win the digital loyalty of a tenth of the world's population.

Before China became the biggest

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