Tencent Invests $195M In Logistics Firm China South City To Compete With Alibaba

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http://techcrunch.com – Chinese Internet giant Tencent is probably best-known in the rest of the world as the creator of WeChat and for its reported investment in Snapchat. On its home turf, however, Tencent is engaged in an aggressive battle with Alibaba, which dominates China’s lucrative and fast-growing online shopping industry. Now Tencent has strengthened its e-commerce strategy with an investment worth about $1.5 billion HKD (about $195 million USD) in China South City Holdings, a leading logistics firm. Competition between Tencent and Alibaba, two of China’s most powerful Internet companies, has he (IT news)