RECENT NEWS IN CHINA

PONY MA REPLACES JACK MA AS RICHEST PERSON IN CHINA.

The net worth of Pony Ma, the founder-CEO of internet company "Tencent", has been valued at $37 billion whereas China billionaire Jack Ma's net worth is $36.2 billion, according to Forbes China's billionaire's list. Pony Ma's company operates the extremely popular WeChat app. It was launched in 2011 and by 2017 had become one of the largest messaging apps with 938 million active users.

         In direct competition to WeChat is Jack Ma's Alipay in China. In 2017,"Tencent" cited 600 million active users of WeChat's payment system in 2017 as opposed to Alipay's 450 million active users hence A NEW MA REPLACES ALIBABA'S JACK MA AS THE RICHEST PERSON IN CHINA WITH A NET WORTH OF 37 BILLION US DOLLARS".