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Stock impact report

Chinese platforms like Xiaohongshu look to Southeast Asia as the U.S. applies more scrutiny [Fortune]

TENCENT HLDGS UNSP/ADR (TCEHY) 
NASDAQ:AMEX Investor Relations: tencent.com/en-us/investor.html
Company Research Source: Fortune
Yet the next frontier for China's tech platforms will likely be closer to home. Recommended Video Xiaohongshu—known internationally as RedNote—is gaining traction across Southeast Asia as a new generation of Chinese tech firms try to expand beyond their home market. The Southeast Asian country of Malaysia is the platform's second-largest market outside of China. Other Chinese tech giants, like ByteDance and Tencent, are also boosting the nation's digital offerings in the realms of e-sports, e-commerce and artificial intelligence. In 2025, China's trade surplus from digital services jumped to a record high of $33 billion , according to data from the State Administration of Foreign Exchange. Southeast Asia has become one important testing ground for China's tech companies, offering young, mobile-savvy consumers and lighter regulatory pressure than Western markets. Experts told Fortune the country's tech firms will likely adopt a more low-key approach in Western markets like th Show less Read more
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