China’s Tencent bigger than Facebook

Tencent Holdings has racked up some impressive gains this week, becoming the first Chinese firm worth over $500bn (€426bn) and surpassing Facebook to be the world’s fifth-most valuable company.

Tencent Holdings has racked up some impressive gains this week, becoming the first Chinese firm worth over $500bn (€426bn) and surpassing Facebook to be the world’s fifth-most valuable company.

Earnings for China’s biggest social network and gaming firm have surged on the popularity of its smartphone games led by titles such as Honour of Kings — a fantasy role-playing game, which has as many active players as the population of Germany.