What happened: Chinese social media platform Weibo is planning to expand beyond China’s borders to target at audiences in the whole Chinese-speaking world, according to Weibo Sports Senior Operations Director Zhang Zhe. In addition, the company is also considering launching new, more niche products in different languages.
Why it’s important: More and more Chinese internet giants are expanding into overseas markets in a bid to maintain long-term sustainable growth. China’s global-trotting consumers are serving as an entry point for mobile payment apps like Alipay and WeChat Pay to tap overseas markets. Similarly, the international “Chinese-speaking world” is the most accessible path for the global expansion of content and social media platforms thanks to the similar needs and habits of customers. However, increased exposure has its disadvantages. Expanding overseas might put Weibo under more scrutiny for its censorship and fake news issues.