The land grab between Tencent and Alibaba has recently extended to the retail space. On December 8, Chinese media Caijing Magazine reported that Tencent had purchased a stake in Super Species, the new retail unit of one of China’s largest supermarket chain operators Yonghui Superstores.

Following the report, Yonghui shares jumped to its daily limit in Shanghai on December 8. Yonghui and Tencent have not officially commented on the validity of the rumor.

China’s tech behemoths Tencent and Alibaba have been fighting across a number of lucrative industries such as music, video streaming, and the fast expanding mobile payment market. E-commerce, in which Alibaba holds an unshakeable position, is a weaker spot for Tencent but a 21.25% stake in JD.com has given the social media and gaming giant buffer against Alibaba.

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Rita Liao

Telling the uncommon China stories through tech. I can be reached at ritacyliao [at] gmail [dot] com.