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Tencent opens its wallet to drive growth in slowing economy

Spending goes up by 69% in Q3 to bankroll forays into content, cloud computing, online finance and video-streaming
Friday, November 18, 2016 - 05:50

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Tencent is intent on exploring new businesses beyond its traditional stronghold, hoping to counter a long-term deceleration of the world's second largest economy.

Hong Kong

TENCENT Holdings Ltd's growing appetite for spending on new businesses helped fuel a stronger-than-expected rise in revenue despite a weakening Chinese economy.

Asia's largest Internet company ratcheted up spending by 69 per cent in the third quarter to bankroll forays

sentifi.com

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