Douyin, the Chinese version of short video app TikTok, hit 600 million daily active users in August, an executive with parent company ByteDance said on Tuesday, a 50% jump since the start of the year.

TikTok-owner ByteDance is on track to generate at least 180 billion yuan ($27.2 billion) in advertising revenue in China this year, which will cement its no. 2 spot in China's digital ad market, two ...