Tech Insider: China’s Cloud Giants Look Overseas, Tencent Exec Cedes Key Role

Welcome to Caixin’s Tech Insider, your twice-weekly wrap on the movers, shakers and deal-makers in China’s tech scene.

Cloud giants look overseas as margins dwindle at home

Cloud computing has become a new battleground in the China-U.S. fight for tech dominance.

China’s biggest cloud service providers, including units from Alibaba Group Holding Ltd., Tencent Holdings Ltd. and Huawei Technologies Co. Ltd., are betting big on overseas expansion as profits dwindle in their saturated home market. To gain an edge, they are increasingly targeting regions less plumbed by their U.S. counterparts, such as Southeast Asia and the Middle East.