- Chinese tech giants invest heavily in Southeast Asia despite challenges.
- TikTok disrupts e-commerce landscape through strategic acquisitions.
- Chinese EV and solar panel manufacturers expand operations in the region.
Dragon’s new playground
Despite regulatory crackdowns and trade wars at home, Chinese tech firms continue to view Southeast Asia as a land of opportunity.
However, the tech winter has taken its toll, reducing investments from US$9.1 billion in 2021 to US$2.4 billion in 2023.
Alibaba and Tencent remain the biggest players, collectively pouring nearly US$10 billion into the region since 2020.
TikTok’s shopaholic spree
ByteDance’s TikTok Shop is shaking up the e-commerce landscape, challenging established players like Alibaba-backed Lazada.
In a strategic move, TikTok acquired a 75% stake in Indonesia’s Tokopedia, injecting US$1.8 billion into the merged entity.
This maneuver allowed TikTok Shop to circumvent regulatory hurdles and continue its rapid expansion in the region.
Chinese electric vehicle manufacturers are turning to Southeast Asia for both production and sales, driven by tariffs in Western markets. BYD leads the charge, accounting for over 70% of EV sales in the region.
Similarly, Chinese solar panel manufacturers are setting up shop in countries like Vietnam, Thailand, and Malaysia to bypass US tariffs, though recent policy changes may impact this trend.
To read the original article: https://www.techinasia.com/visual-story/charting-chinese-tech-giants-investing-southeast-asia?ref=featured-subex-2
