Development strategies of high-tech companies in China: Huawei and Tencent

Currently, China is the second largest economy in the world and a rapidly developing innovative country. The improving position of China is evident not only from the rankings of the largest innovative companies but also from the reaction of major Western nations (once technological leaders) to China’s achievements in high-tech industries. Their biggest concerns refer to increased control over foreign direct investment from China, the cancellation of major investment deals, the refusal of the services of Chinese companies due to a threat to national security, the trade war between the United States and China, etc. This article aims at identifying and analyzing the development strategies of high-tech companies in China as exemplified by its largest national companies: Huawei and Tencent. The authors used such methods as document analysis, analysis of quantitative data, comparative analysis, and synthesis. While studying the development strategies of the most prominent high-tech companies in China, Huawei and Tencent, the authors confirmed the general trends of their innovative development, including active investment in new technologies (artificial intelligence, cloud services, blockchain, big data, Internet of things, digital platforms), expanding the network of users and deepening connections between them, as well as personalizing services.