If you’re an ecommerce company in China, you should be on a shopping spree right now. Studies show that more than anywhere else in the world, Chinese customers want a "total retail" experience.
And that’s exactly what Alibaba Group and Tencent Holdings Limited are doing with their billions of dollars of acquisitions in recent months. Over the past year, Alibaba has bought everything from financial services to offline sectors. Most recently, the internet giant bought a quarter of Intime Retail, a department store chain, and then 20 percent of Wasu Media Holding Co, a Chinese internet TV company.
Tencent has also been snapping up companies. In its case, the firm’s purchases have aimed at enhancing its core business of mobile games as well as increasing its positioning in social media. In March, the company, which boasts a HKD980 billion (USD126.4b) market value, bought a 20 percent stake in Youku Tudou, a Chinese video website, and a USD500 million stake in South Korean mobile gaming firm CJ Games.
(Source: The Wall Street Journal Online )