Tencent Eyes China’s Offline Retail Market Via JV With Supermarket Operators ParknShop, Yonghui

Chinese internet giant Tencent has joined hands with supermarket chain operators ParknShop and Yonghui Superstores to form a joint venture, a move to tap into the country’s vast and evolving offline retail market.  The joint venture, namely ParknShop Yonghui, is valued at over RMB1.2 billion (US$170 million) with a 10% stake held by Tencent’s investment […]

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