Sharing Targeted Posts Online with "Vivid Descriptions" Expressing Agreement
Tencent Ranked as the Most Valuable Company in China, Huge Influence
[Asia Economy Reporter Kim Hyunjung] Pony Ma, the founder of Tencent, China’s largest big tech company, broke his silence by sharing a post on his social media that pointed out the economic damage triggered by the zero-COVID policy. This is a rare occurrence in China, where openly expressing negative opinions about government policies is strictly controlled.
On the 24th, Hong Kong’s South China Morning Post (SCMP) reported that Ma recently shared on his private WeChat account a post titled "No One Cares About the Economy Except Hu Xijin," written by independent online commentator Zhang Mingyang. The account is private and only accessible to those he permits.
Zhang Mingyang’s post depicts the bleak economic situation in China amid strict zero-COVID measures. Hu Xijin, mentioned in the post, is the former editor-in-chief of the nationalist newspaper Global Times. Recently, Hu expressed concerns about the economic impact of the government’s zero-COVID policy, writing that the cost of virus control should not exceed the benefits of control.
Zhang detailed the economic pressures faced by companies. He pointed out the hypocrisy, saying, "No one wants to talk about the pressures companies are under," and "Some netizens think, ‘Companies can fail, but employees must not be laid off,’ and ‘Companies can fail, but overtime must not be done.’"
He also criticized those who "only associate China’s economy with chips (semiconductors) and so-called hardcore technology, ignoring food, clothing, transportation, and housing industries," adding, "These people are probably not ashamed to curse delivery workers if food delivery is 10 minutes late."
Regarding this post, Ma commented, "The description is very vivid," expressing his agreement. Although access to the content was limited, screenshots began circulating on another Chinese social media platform, Weibo.
One Weibo user said, "Pony Ma finally spoke about how the economy is doing," adding, "Everyone is worried about the economy, but there is nothing they can do. It’s a collective silence."
Another Weibo user, Feng Tinglin, wrote, "The reason Ma’s post gained popularity is that he voiced the thoughts of countless private companies and entrepreneurs." Feng, who identified himself as the CEO of a tech company in southwestern Sichuan Province, said, "I want to ask society to show that it cares about private companies supporting hundreds of millions of ordinary households," emphasizing, "Workers and business owners must be protected."
SCMP reported that Tencent did not respond to requests for comment. Although Ma’s post and the article he shared did not directly attack government policies, they expressed concerns indirectly and remained uncensored.
Based in Shenzhen, Tencent is considered the big tech company most severely hit by China’s zero-COVID policy. Tencent’s stock price on the Hong Kong stock exchange has halved since early 2021, and for the first time since its 2004 listing, it recorded nearly 0% revenue growth (135.5 billion yuan, approximately 25.48 trillion won) in the first quarter of this year. Additionally, Tencent faced criticism from a state-run media outlet that condemned its video games and content services as "spiritual opium" harmful to teenagers.
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