The conglomerate is Asia’s most valuable company—worth some $750 billion—and best known for China’s ubiquitous messaging app, WeChat. Usage soared during the pandemic as more of WeChat’s billion-plus users embraced its digital-payment tools; 2020 transactions totaled close to $250 billion, double those of 2019. In partnership with the Chinese government, Tencent also launched a “vaccine passport” program, enabling WeChat users to share their vaccination status via a QR code. And while WeChat is still grappling with controversy—the U.S. and others have raised concerns about its data privacy—Tencent continues to expand, investing in startups worldwide.
More Must-Reads From TIME
- Exclusive: The Making of the U.S. Military's New Stealth Bomber
- Your Next House Could Be Made on an Assembly Line
- The Legal Implications of the Debate Over Whether 'Extreme Racism' Is a Mental Illness
- Why European Countries Are Giving Teens Free Money To Spend on Books, Music, and Theater
- Republican Skepticism of Trump Has Never Been Higher
- Column: The U.S. Prison System Doesn't Value True Justice
- How Green Is the Qatar World Cup’s Outdoor AC?
- 16 Funny and Whimsical White Elephant Gifts Under $25
- The 5 Best New TV Shows Our Critic Watched in November 2022
