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Tencent pledges $7.7 bln to support China poverty, environment initiatives

InduQin

Chinese tech giant Tencent (0700.HK) on Monday pledged to invest 50 billion yuan ($7.68 billion) in environmental and social initiatives, a move that comes as China’s internet heavyweights come under intense scrutiny from antitrust regulators.


Tencent, China's biggest social media and video games company, said its investment would fund initiatives in areas including basic science, education innovation, rural revitalisation, carbon neutrality, food, energy, and water provision, assistance with public emergencies, technology for senior citizens and public welfare.


It also said it is forming a corporate development group to spearhead such initiatives. It did not provide a time frame for its investment.


"Tencent should continue to respond to the ever-changing needs of the public and of the era, so as to develop and prosper together with society as a whole," Pony Ma, founder and chairman of Tencent, said in a statement.


Read More at https://www.reuters.com/business/sustainable-business/tencent-pledges-77-bln-support-china-poverty-environment-initiatives-2021-04-19/

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