Baidu, Tencent Best Bets to Ride China Internet Boom, CLSA Says
By Bloomberg News
May 18 (Bloomberg) -- Baidu Inc., Tencent Holdings Ltd., and Sina Corp. offer the best returns for investors seeking to profit from growth in China’s Internet market as consumers increase online spending, according to brokerage CLSA Ltd.
China’s online commerce transactions will almost double in value to 904 billion yuan ($139 billion) next year, from 463 billion in 2010, according to a presentation by Elinor Leung, CLSA’s head of Asia telecommunications and Internet research. The brokerage topped Institutional Investor magazine’s latest annual poll for Asian equity strategy.
“E-commerce is shooting up,” Leung, who is scheduled to speak in a briefing today in Beijing, said in the presentation. “Online advertising is the best way to play China’s e-commerce boom.”
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