"The Shanghai Composite rose 0.7 percent to 3,641.83 at 9:48 a.m. local time, heading for a ninth day of gains, the longest winning streak since 2007."<p>I like the use of the term "winning streak". No need to pretend it's more than gambling*<p>I hate articles that perpetuate the notion that share price is the ultimate raison d'etre.<p>*this is not supposed to be an absolute statement. it is to be taken with a pinch of salt!
Wechat is literally used by everyone in remotely major Chinese cities (say all cities with a population of 3+ million) these days. People that meet ask "Do you have wechat?" instead of "What's your phone number?". Sure, it might not generate any money, but suggesting they are fading is absolutely patently false in my experience: they have virtually achieved <i>total market dominance</i>.
This article is mostly about stock market numbers. Ok, its from Bloomberg.<p>I don't think its useful to use words like boom and fade when your writing about companies that have been doing well for 10+ years: Alibaba, Sina/Weibo, Tencent, Baidu, Tudou.<p>Hard to say what kind of future Sina/Weibo and video streaming companies Youku Tudou could have...I guess similar to Twitter and Youtube. Alibaba and Tencent could have a good shot at being world leading banks over the next 10 years among the things they already do well. The stock market may not see its fair shake on these deals, but users in and out of China are getting benefits.<p>China's Internet companies are growing fine from my perspective as a consumer of online services and as a person building companies here. Software development and management gets better year over year. In the IT space, there seems to be organic evolution of treating employees better. More people are practicing taking risk in creating companies.
I think there is another boom that is fading, a potentially more serious one that is China's housing market. It is flooded with supply. Capital flight to the West, with property developers defaulting on debt, li kai shing (richest HK dude) dumping all his assets in China a while ago. The fading or faltering of the tech sector could be related but who knows, this is a government that likes to keep a blanket over everything.