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Tenecent Announces 70 Billion Dollar Investment Over Five Years in Technology

Emily Mason

Summary: Chinese tech company Tencent plans to invest 500 billion yuan ($70 billion) into innovative technologies, including blockchain, over the next five years, Reuters reported. The company is best known for creating the messaging app WeChat.   The announcement follows a push from Beijing for investment in structural, technology based improvements through "new infrastructure," Reuters wrote. Investment targets ...

Chinese tech company Tencent plans to invest 500 billion yuan ($70 billion) into innovative technologies, including blockchain, over the next five years, Reuters reported. The company is best known for creating the messaging app WeChat.  

The announcement follows a push from Beijing for investment in structural, technology based improvements through "new infrastructure," Reuters wrote.

Investment targets will include blockchain, 5G, cloud computing, artificial intelligence, among others. It is unclear how much of the funds will go towards blockchain, coindesk reported. 

By Emily Mason

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