Tech giants Tencent and Douyin to help China’s exporters pivot to domestic market

Published 04/16/2025, 11:33 PM
Updated 04/16/2025, 11:35 PM
© Reuters. FILE PHOTO: A logo of Tencent is seen at its booth at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/File Photo

BEIJING (Reuters) - 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 U.S.-China trade war.

Tencent said on Thursday its program aimed to create 100 billion yuan ($13.7 billion) 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 U.S. market as a result of high tariffs imposed by the Trump administration on all Chinese imported goods.

($1 = 7.3069 yuan)

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