Capitalization of Chinese Internet holding has reached the level of Facebook

Tencent market capitalization has reached $523 billion.

Chinese social network Tencent became the first Asian company with a market capitalization of over half a trillion dollars, surpassing Facebook.

So, on Tuesday, November 21 Tencent in terms of capitalization surpassed the American company Facebook. At the end of trading on the exchange value of Tencent amounted to $523 billion dollars, and Facebook — only $519 billion the undisputed leader remains Apple, whose market capitalization is $873 billion.

Besides the fact that Tencent allows almost a billion of its users to use all standard features of social networks, chats, posting photos or playing games, it also gives you the opportunity to pay a large number of services using QR codes and just give each other money.

Another factor in the success of Tencent has become the online game Honour of Kings, through which the company profits from mobile games in the third quarter of this year grew by 84 percent.

The rise of Tencent is largely due to the fact that the authorities are blocking China’s access to the most popular global social networks such as Twitter and Facebook.

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