Chinese internet company Tencent has revealed plans to invest USD 1 billion in creating a new e-commerce unit aimed at developing and upgrading customer services. Martin Lau, Tencent’s president, has been appointed chairman for the new subsidiary.
According to Wu Xiaoguang, the CEO of the new subsidiary, cited by online media outlet marbridgeconsulting.com, the majority of the investment will be used to upgrade the service experience from the vendor side to the platform side, integrating Tencent's Paipai.com C2C website and QQ Mall B2C website with consumer electronics B2C 51Buy (Icson), mobile e-commerce and digital distribution services under Tencent E-Commerce for a new "B2C + Select Vendor Open Platform" structure.
Tencent has unveiled intentions to increase investment in 3C goods and develop a national warehousing infrastructure and logistics center.
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