The most popular emoji in the world is the "face with tears of joy", according to a recent report.

The report on analysis of emoji usage was released by the world's largest input company, KIka, along with Peking University. The smiley face with tears streaming from its eyes, known as "face with tears of joy", accounted for 21.3 percent of total emoji usage, followed by the "red heart" and "smiling face with heart-shaped eyes."

Yang Li, a 26-year-old customer service representative from a media company in southwest China's Chongqing, said she used the "face with tears of joy" most frequently. It can be used to lighten the tone in business negotiations or chat with parents, or when pouring out your troubles to close friends, she said, adding that the tears of joy emoji can also bring people closer and make communication easier.

The popularity of the "face with tears of joy" emoji also lies in the fact that it conveys varying degrees of emotions, said Zhao Wen, a 23-year-old college student. While emphasizing the intended sense of glee or delight, it can be used to mock or gloat over others' misfortunes, or show self-deprecation, Zhao noted.

It’s natural that the "face with tears of joy" emoji is so popular, as it can be used to express different emotions in the shortest amount of time, according to psychology professor Zhou Xiaoyan of Chongqing Normal University.

Emojis have now grown into a business. A report from Chinese tech giant Tencent showed that the company's income from paid emojis exceeded 500,000 yuan in the past two years.