TikTok owner ByteDance’s overseas operations to get boost from US$9.5 billion bank loan

Quick Summary:

The company’s overseas e-commerce operation, for example, is still in an input phase’ to build up its ecosystem, according to analyst Li Chengdong.

ByteDance’s overseas e-commerce business, TikTok Shop, was initially rolled out in the UK and Indonesia in 2021.“It is also common practice for Chinese tech giants, including the likes of Tencent Holdings and JD.com, to issue bonds overseas because foreign currency exchange can be difficult,” Li said.

The loan can also help “maintain [good] connection with the banks”, he added.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Author / Journalist: Coco Feng

Category: Business

Markets: Hong KongIndonesiaJapan

Topics: According E-commerce Bytedance Bytedance’s Dollar-denominated Boost Tiktok Owner Us$9 Operations Loan

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-03 @ 19:11:56 (4 hours ago)

News Timezone: GMT +8:00

News Source URL: scmp.com

Language: English

Article Length: 203 words

Reading Time: 2 minutes read

Sentences: 8 lines

Sentence Length: 26 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © SCMP

News ID: 22346803

View Article Analysis

About SCMP

Main Topics: Business

Official Website: scmp.com

Update Frequency: 14 posts per day

Year Established: 1903

Headquarters: Hong Kong

News Last Updated: 1 hours ago

Coverage Areas: Hong Kong

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #42

Publisher Details

Frequently Asked Questions