Business
        

Companies

Tencent Holdings to launch $760m games fund

Updated: 2011-01-25 15:08

(Agencies)

Twitter Facebook Myspace Yahoo! Linkedin Mixx

Tencent Holdings, China's largest Internet firm by market value, plans to launch a 5 billion yuan ($760 million) fund to invest in online games, social games and mobiles games, Reuters reported Tuesday, citing the Shanghai Securities News .

Related readings:
Tencent Holdings to launch $760m games fund Tencent aims at global market
Tencent Holdings to launch $760m games fund Tencent announces launch of int'l QQ
Tencent Holdings to launch $760m games fund Tencent to open platform

Tencent, which dominates China's online gaming industry and runs the largest online messaging platform, is currently the sole investor in the fund and aims to actively invest most of the 5 billion yuan in the next two or three years.

China's online games market rose 25 percent in the fourth quarter last year to hit 9 billion yuan ($1.4 billion), with Tencent holding 31 percent of the market, data from iResearch showed.

Specials

President Hu visits the US

President Hu Jintao is on a state visit to the US from Jan 18 to 21.

Ancient life

The discovery of the fossile of a female pterosaur nicknamed as Mrs T and her un-laid egg are shedding new light on ancient mysteries.

Economic Figures

China's GDP growth jumped 10.3 percent year-on-year in 2010, boosted by a faster-than-expected 9.8 percent expansion in the fourth quarter.

2011 postgraduate entrance exam
Pet businesses
Critics call for fraud case to be reopened