OREANDA-NEWS. South China Morning Post reports that the Chinese company Tencent, which owns the popular messenger WeChat and the social network QZone, has overtaken the American Internet corporation Facebook in capitalization.

On the Hong Kong Stock Exchange, the company has risen in price by 4.7 %, thanks to which its market capitalization reached 670 billion US dollars. Facebook’s capitalization at that time was 657.83 billion dollars.

In June, analysts of PricewaterhouseCoopers estimated Facebook’s market price at 629 billion dollars (sixth in the world among all companies), and Tencent’s at 599 billion dollars (seventh place). Compared to December 2019, the Chinese corporation has climbed two positions in the ranking of the most expensive companies of the world.