WeChat State Grid stops service

How does WeChat work?

The platform includes all the everyday essentials in the interface of a single app. By linking a WeChat account to a bank card, users can order taxis, buy airplane, train, and movie tickets, book hotels, pay utility bills, transfer money to other users, top-up cell phone accounts, and manage personal finances.

Is WeChat a real company?

Tencent, a world-leading internet and technology company founded in 1998, with headquarters in Shenzhen, China, is the creator of WeChat. Though it may not be widely known outside China, Tencent is the largest gaming company, as well as one of the world’s most valuable companies with a market value of US$ 372 billion, as of October 2023.

Why is WeChat important in China?

Here are 5 reasons why it is crucial to include WeChat as a part of any marketing strategy in China: More than 1.3 billion regular users. As the largest social media platform in the country, WeChat represents an opportunity for your company to connect with the Chinese consumer market.

Why should your company use WeChat?

As the largest social media platform in the country, WeChat represents an opportunity for your company to connect with the Chinese consumer market. Its demographic is young urban residents who typically make the most online purchases, are the most internet-savvy and have an increasing level of disposable income.

How many monthly active users does WeChat have?

The number of Monthly Active Users (MAU) has been steadily increasing. As of September 2023, WeChat has 1.671 billion monthly active users worldwide. In 2022, that number reached 1.541 billion. This represents a substantial year-on-year (YoY) growth of 8.43%, or an increase of 130 million MAU compared to last year.

Do Chinese WeChat subscribers need to take their wallets?

Chinese WeChat subscribers do not need to take their wallets when they leave their homes. Over 900 million WeChat Pay accounts are active, with restaurants, clothing stores, and street food vendors, and use QR codes to replace cash and bank cards. Handheld machines once used for swiping cards now come equipped with a barcode and QR code scanner.