tencent cloud

Resilient Ecosystem Growth in a Structurally Constrained Market

China's cloud infrastructure market has transitioned from rapid scale-driven expansion to a mature stage, with annual growth moderating from approximately 45% in 2021 to 19% in 1H25. This report analyzes the structural shifts in value creation, highlighting that while resale margins have declined by 5–10 percentage points, high-complexity scenarios like AI and overseas expansion offer new growth avenues. The objective is to provide a framework for partners to build resilient, multi-anchor growth models by leveraging Tencent Cloud’s platform capabilities to navigate this structurally constrained market.

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