Chi Lau on digital economy
From [双语字幕]Tencent SY Lau‘s Speech: Digital Marketing in China · · 腾讯Tencent
“China's digital economy has been a key driver of China's economy for the past 20 years, currently contributing a staggering 32.9% of China's GDP and growing at the highest rate in the world.”
On , Chi Lau, President at Tencent Holdings, spoke about digital economy during [双语字幕]Tencent SY Lau‘s Speech: Digital Marketing in China on 腾讯Tencent.
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About Chi Lau
In a December 2018 speech, Tencent President Chi Lau discussed the state of digital marketing in China, describing the country's digital economy as a key driver of its economy, contributing 32.9% of GDP. He characterized the digital civilization as the next iteration of human civilization, stating it increases productivity and unleashes individual potential. Lau noted that WeChat had over a billion monthly active users and more than 20 million official accounts as of the second quarter of 2018. He described the marketing landscape in China as unique and shaped by technology and consumer behavior, and emphasized the importance of building trust and creating social value through marketing initiatives. Lau also addressed the management of advertising on WeChat, stating that the company constrains ad exposure in users' Moments feeds to no more than two per day, as he views Moments as a "private property" of consumers. He said this approach is not meant for monetization but for the platform to self-learn and ensure that marketing enhances users' quality of life. Despite the ongoing trade war at the time, Lau expressed assurance that the world would continue to become more globalized and integrated, particularly in the realms of data.