Tencent Holdings Ltd. (00700.HK), a Shenzhen-based internet giant, will invest at least 10 billion yuan (US$1.63 billion) to develop e-commerce and internet finance businesses in Qianhai, chief executive Pony Ma said. He did not mention a time frame. Tencent already operates several businesses in the economic zone with a combined registered capital of 1.6 billion yuan. The company is optimistic about the future development of Qianhai, Ma was quoted as saying in a report on the company’s technology website Tuesday. Qianhai is a test bed for the country’s financial innovation.
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