Tencent

HYSTA's first event of the year featured CTO Jeff Xiong of Tencent QQ, the internet giant in China.

Here are some of his comments:

1. Significance of numbers in China are important; QQ uses numbers as ID instead of screen name or email
2. Luck plays a major part in its success
3. Tencent focuses more on entertainment due to its target audiences' young age.
4. Tencent has about 300 different product/ services
5. For QQ, Registered Users 8.56 億, Active Users 3.55 億
6. China's Internet Users will continue to increase and more and more people will use broadband; 3G service to go online
7. A story: A girl earns 500 dollars a month and she saves 50 dollars for QQ's avatar. She can buy brand names clothes for her avatar on QQ but not in real life; a different way to express emotions
8. Corporate culture is the focus on customers' demands
9. QQ mail has some innovative features that are better than Gmail's
10. Launching a product: 1) start with smaller customers base first then expands 2) Does customer engagement
11. China's products have been mainly following US's and Korea's trends.
12. The products' success and failure ultimately concern the team
13. Electronic business in China still has a lot of potential (like paypal)
14. 5000萬users online at the same time: How does the backend work?
15. Has around 100 patents; more companies are realizing the importance of IP (You get money if you register for a patent)
16. Tencent's R&D 6 core technology: Internet security, Storage Technology, Data Mining, Multimedia, Chinese processing, Distributed Internet
17. They have 50000 servers
18. Micro-transaction is still doing well, not too affected by the economy
19. QQ is opened up to share users with MSN, SKYPE given that their users like the service and are safe
20. Internet and Mobile still have a bright future in China