China’s state-owned media has recently invested in two short-form video social platforms, Kuaishou and Douyin.
According to Straits Metropolis Daily, data from the Tianyancha platform on October 26 showed that Kuaishou had made a strategic financing, and that the investor was Beijing Radio & Television (BRTV).
Currently, the two major shareholders of Kuaishou are Beijing Huayi Huilong Network Technology Co, Ltd (with 99% of shares) and Beijing Radio and Television (with 1% of shares).
BRTV is a government-owned television network in China. It was founded in 1979 and covers China, Asia and North America.
BRTV and Kuaishou collaborated extensively in 2020 to promote celebrity check-in locations in Beijing.
On June 21 this year, Douyin Group and CCTV jointly held a press conference in which they announced that Douyin Group had become a strategic partner of CCTV.
In fact, Douyin received an investment last year from Wangtou Chinese (Beijing) Technology Co. Ltd. Currently, this shareholder owns 1% of Douyin’s shares, according to Tianyancha.
Public information shows that Wangtou Chinese (Beijing) Technology Co. has three shareholders. One of them is CCTV Fusion Media Development Co, Ltd, a subsidiary of CCTV, with 30% of the shares.
Earlier, state-owned telecommunications company China Unicom also shook hands with Tencent in October. Also, state-owned China Mobile signed a strategic cooperation agreement with retail giant JD.com.