Year in review: Major business events in 2018

Short video scramble between Tencent and Bytedance

Tencent and Bytedance, two domestic internet behemoths, sued each other in June, both seeking apologies from the other. The conflict has its roots in competition in the short video industry, time-weekly said.

Bytedance currently has three short video platforms -- Douyin, Xigua and Huoshan -- while its counterpart Tencent launched 14 short video applications by the end of the year.

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