In China, three tech titans have extended their business reach into almost every area of life. The dominance of Baidu, Alibaba and Tencent, known collectively as BAT, is impressive. Shares in the BAT trinity rocketed to a combined valuation of nearly US$1 trillion last year, while Alibaba and Tencent now together account for nearly a third of the MSCI China index. Over 60% of digital advertising spend in China goes to BAT, according to eMarketer....
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