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Silicon Valley's tech companies have a new argument in the unfolding debate over their size and power: We're better than the Chinese competition, Axios' David McCabe writes.

Expand chart
Data: eMarketer, Note: Google includes YouTube, Microsoft includes LinkedIn; Chart: Axios Visuals/Axios

The big question: How long will those companies remain second to American ones?

  • From an advertising perspective, the answer is that some of the "Big Three" in China are now growing faster in ad revenue, the primary source of income for some of the biggest American social tech companies.

Driving the news: The China Internet Report, co-authored by South China Morning Post, Abacus News and 500 Startups, shows how China's big three companies — Baidu, Tencent and Alibaba — have grown across all industries. This includes ad-based media and communication industries, like social apps, messaging and video.

Takeaways from the report:

  • The Big Three are involved in almost every sector, but success is often contingent on government authority.
  • They are empowering rural communities to become connected. For example, 78 million people in rural China read news from the three primary news apps at least once a month and 175 million short video app users are in rural China.
  • They often embrace the "social+" model, like U.S. companies, meaning they use social media functions to promote other use cases, like streaming and digital payments.

Go deeper: The report lets you filter through every investment, acquisition and self-made app being built by the "Big Three" in China.

Go deeper

Bryan Walsh, author of Future
1 min ago - Politics & Policy

Axios AM Deep Dive: America’s murder surge

Photo illustration: Sarah Grillo/Axios. Photo: Erik McGregor/LightRocket via Getty Images

Homicides rose at the fastest rate in at least six decades last year. This Axios AM Deep Dive, led by Future correspondent Bryan Walsh, looks at the state of gun crime.

4 hours ago - Politics & Policy

Senate Democrats target billionaires

Illustration: Annelise Capossela/Axios

After failing to get a deal on other planned tax increases, key Senate Democrats are pivoting to a billionaires' income tax to pay for President Biden's social spending.

The big picture: No advanced economy has attempted anything similar on such a scale.

Anti-abortion activists' Supreme Court dreams are coming true

Photo illustration: Annelise Capossela. Photos: Kevin Dietsch/Getty Images

This is the moment the conservative legal movement has been building toward for decades: The solidly conservative Supreme Court is about to hear two major abortion cases within a month of each other.

Why it matters: All of this is likely to end with significant new restrictions on abortion and a clear path for Republican-led states to win the next big abortion cases, too — the culmination of a long and bitter fight for control of the judiciary.