Rash diversification could undermine Alibaba

While China's Internet and e-commerce industries continue to grow, the intense rivalry between domestic giants Alibaba Group Holding Ltd and Tencent Holdings Ltd is deepening.

Both continue to expand impressively, domestically and internationally. Both also continue to attract massive media attention.

For example, Tencent recently managed to surpass China Mobile Communications Corp as the most valuable Asian brand, according to Millward Brown's BrandZ survey.