Tencent Holdings, one of the largest companies in China, says it will invest $1 billion into a new e-commerce effort aimed at developing “a ‘new- generation’ business-to-consumer platform,” Bloomberg says.
In connection with the move, Tencent President Lau Chi Ping has been named chairman of Tencent E-Commerce Holding Co., according to Bloomberg’s Jim Jia, who cites a Tencent official statement.
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