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China’s Tencent Will Invest 500 Billion Yuan in Blockchain and New Technology Infrast

Chinese tech giant Tencent Holdings, the owner of China’s messaging platform WeChat has announced that the company will be investing 500 billion yuan ($70 billion) in the next five years in emerging technologies including blockchain, artificial intelligence (AI), cloud computing, and cybersecurity.
Tencent is aiming to strengthen the development of FinTech in China, following the push of accelerating the development of blockchain as stated by the country’s President Xi Jinping.