Caixin
Caixin Global – Latest China News & Headlines

Home >

ABOUT US

CX Tech is Caixin Global's real-time tech news portal, featuring 24-hour news, short-form analysis, and roundups from business and tech media in China.

LATEST
Ping An-Affiliated Fintech Firm OneConnect Raises Capital from New Share Sale As It Eyes Global Expansion
Pompeo Hints At ‘Broader’ Ban on Chinese Apps After Trump’s Executive Orders Targeting TikTok and WeChat
Trending in China: Merchants and Netizens Forced to Pick Sides in Fight Between Delivery Firms
Baidu-Backed Video Streamer iQiyi Probed by U.S. Regulator After Short Seller’s Report
AI Unicorn SenseTime Is Said to Mull Hong Kong, China IPO
Huawei Copies Korean Rivals by Manufacturing Own Display Driver Integrated Chips
JOYY’s Livestreaming Revenue Up 40% in Second Quarter of 2020
Trending in China: ‘Mukbangs’ Under Fire in China Amid High Level Food Waste Campaign
Trending in China: How Will the Chinese Diaspora Survive a WeChat Ban In U.S.?
Online Platform JD.com Buys into Bricks and Mortar Convenience Store Chain
China Unicom Profits Rise in First Half, Stock Soars
ByteDance in Talks with Indian Conglomerate Over TikTok Amid Layoff Fears
Alibaba’s Zhang Yong Tops 2020 Forbes China Best CEOs List
Trending: Family Feud Raises Big Questions Over Succession in China’s Multi-Million “Family” Businesses
Shanghai-Listed Foxconn Internet’s Cloud Service Sales Up 4% in First Half of 2020
U.S.-Listed Chinese Companies Nio and Huya Have Something to Cheer About
Apple Edges Huawei Out of No. 1 in Quarterly Tablet Shipments
Chinese Finance Platform Lufax Files for U.S. IPO of up to $3 Billion
China Mainland Leads U.S. in Fortune Global 500 Companies But Trails in Profitability
Trending in China: Tencent – Fighting Youth Unemployment or Enemy of Older Workers?
Tencent’s Mysterious Investment Unit Claims Solid 10-Year Run

By Isabelle Li / Feb 21, 2019 04:58 PM / Business & Tech

Martin Lau. Photo: VCG

Martin Lau. Photo: VCG

China’s economy may be facing headwinds in 2019, but Tencent isn’t shrinking its investments in external businesses, the company’s president Martin Lau Chi Ping said.

On Wednesday, the Chinese internet giant released details of a speech Lau delivered at the Tencent Investment Annual Conference earlier this month. According to his speech, the company’s investment department invested in over 700 external companies in the team’s 10-year history.

According to Lau, a total of 122 companies Tencent has invested in have become unicorns (having a valuation of more than $1 billion each), while another 63 have gone public.

Tencent’s investment arm is low profile and is one of the company’s more mysterious departments.

Addressing criticism that Tencent has shifted too much towards investment banking rather than internet businesses, the president said finance-related investments will remain a core strategy of the company as they serves to fill in “disadvantageous areas.”

Related: In-Depth: A Winter Storm Looms for China’s Tech Sector

Share this article
Open WeChat and scan the QR code