A picture illustration shows a WeChat app icon in Beijing, December 5, 2013. A Reuters/Petar Kujundzic

In a multi-billion dollar dogfight with Alibaba Group Holding Ltd for leadership in China’s online entertainment market, mobile messaging app WeChat is Tencent Holdings Ltd’s trump card.

The wildly popular app allows Tencent to channel 500 million monthly active users to its entertainment services, a huge consumer base for… [Read more on Reuters]