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Alibaba-Tencent Rivalry Now Reaches China's Energy Industry

March 10, 2016: 12:00 AM EST
China’s largest Internet companies, Alibaba Group Holding Ltd. and Tencent Holdings Ltd., expanded their rivalry to include the country’s oil and gas industries. Alibaba agreed to provide China National Petroleum Corp., the local oil and gas production giant, with Internet-based services. Alibaba’s deal came after Tencent signed in August 2014 a collaboration deal with China Petroleum & Chemical Corp., which operates more than 30,000 fuel stations across the country, in areas including mobile payments and media marketing.
Aibing Guo et al, "Alibaba and Tencent Extend Their Web Battle to the Gas Station", Bloomberg Business, March 10, 2016, © Bloomberg L.P.
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