Tencent Holdings, China’s internet giant and largest gaming company, invested CNY93.1 billion (USD14.4 billion) in the first half of the year. Most of the beneficiaries it invested in were firms in gaming industry.
Tencent has invested in 49 gaming companies in the first six months of 2021, an average of one every 3.8 days, according to a report released by corporate data platform Qichacha yesterday. Some 21 of the investments were new projects in Shanghai and Chengdu, cities which are becoming the cradle of Chinese gaming startups.
The Shenzhen-based company has also invested in other entertainment firms, corporate services and financial projects, while investments in the healthcare and education sectors declined in the second quarter. The number of education programs it contributed to dropped to one in the second quarter from 10 in the first one. Healthcare projects fell to two from seven in the same period.
Tencent made 163 investments in 160 projects in the first half. Community group buying platform Hunan Xingsheng Preferred E-commerce, food company Shining Taste and game company Feiyu Technology International received two contributions. The firm invested in 20 Chinese cities and 15 countries and regions including the United Kingdom, Canada, Germany and Russia.