Tencent Video battles iQiyi in China's streaming wars

LAUNCHED IN 2010, iQiyi has grown used to the foreign press calling it "the Netflix of China". Not the worst nickname, given the videostreaming pioneer's success. But Gong Yu, iQiyi's founder and boss, insists that his firm is more accurately described as "Netflix plus". A bold claim for a loss-making business worth one-fifteenth as much as America's (cash-generating) entertainment powerhouse with a market value of $214bn. Still, Mr Gong has a point. Like Netflix, iQiyi offers customers a deep c...