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Tencent says to step up investment overseas and in smart retail

BEIJING: Chinese language tech large Tencent Holdings stated it is going to step up its funding abroad and in industries comparable to “good retail”, having already invested in additional than 800 corporations.

These companies embody 70 listed corporations and over 160 are valued at greater than US$1bil (RM4.05bil), in accordance a speech made by Tencent President Martin Lau at a convention final week which the corporate posted on its social media account on Jan 20.

Tencent is thought to have stakes in companies comparable to meals supply large Meituan Dianping, e-commerce web site Pinduoduo and online game corporations comparable to Riot Video games and Supercell.

However the firm, value US$490bil (RM1.99tril) and the second-biggest firm in Asia by market worth after arch-rival Alibaba Group Holdings, hardly ever offers an summary or discloses particulars of its funding actions.

“Beforehand our conventional funding sectors have been largely targeted on video video games content material and frontiers of science and expertise,” Lau informed a gathering of greater than 500 Tencent-backed corporations.

“Nevertheless, with the event of Tencent’s WeChat mini-app ecosystem and fee platform, we pays extra consideration to good retail and fee platforms in future,” he stated. – Reuters

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