Read at South China Morning Post
Social network giant Meta Platforms has seen growth in its China-related revenue, with China accounting for 10% of Meta's total revenue in 2023. Chinese brands are using Meta platforms to reach consumers in foreign markets.
"The online commerce and gaming verticals benefited from strong demand by advertisers in China reaching people in other markets," said Susan Li, Meta's CFO.
China accounted for a larger proportion of Meta's revenue in the Asia-Pacific region in 2023, at 38%, up from 27% in 2022. Despite the Chinese government blocking access to global social media apps, China remains a top advertiser on platforms like Meta's Facebook and Instagram.
Although the Chinese government blocks its population of 1.4 billion from many global social media apps such as X, Google's YouTube and Meta's Facebook and Instagram, that did not stop China from being a top advertiser on these platforms.