Tencent announces 500 billion yuan investment in "new infrastructure" over five years

>>REAL-TIME UPDATES IN THE WIRE. CLICK HERE<<<

Chinese tech giant Tencent Holdings announced a plan to invest 500 billion yuan ($70 billion) over the next five years in the so-called "new infrastructure", a major hi-tech initiative that would bolster Beijing’s efforts to drive economic recovery in the post-coronavirus era.

That massive investment will focus on fields that include cloud computing, artificial intelligence (AI), blockchain technology and Internet of Things, cybersecurity as well as the infrastructure to support them like advanced servers, supercomputers, data centres and 5G mobile networks, according to an announcement on Tuesday.

The Shenzhen-based tech . . .

Sign In or Subscribe To Get Full Access.

Everything you need about China markets is on THE WIRE - one timeline with up-to-the-minute updates throughout every trading day.

Follow China Market In The Most Efficient Way!

TRY US FOR FREE

We offer limited-time welcome discount to let more people experience the value of our exceptional services. Don't Miss Out - Grab it!