trending Market Intelligence /marketintelligence/en/news-insights/trending/12V8B9Ue9sRPdRSSwMsW3A2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Tencent to invest more than US$10B in Europe


Episode 5: The Future of Work - The World of Workforce Experience and Productivity


Needham & Company is Now Available in the S&P Global Market Intelligence Aftermarket Research Collection


The State of Green Business 2021: Positive Impact


European subscription OTT video 5-year outlook

Tencent to invest more than US$10B in Europe

Tencent Holdings Ltd. plans to invest more than US$10 billion in Europe in 2020, with around one-third of that sum going into Germany, Handelsblatt reported.

The Chinese tech conglomerate is eyeing investments in autonomous driving startups, high-end manufacturers and industrial designers in the European country, which is considered one of Tencent's most important markets outside China.

Tencent Cloud Europe President Li Shiwei said the company has fewer than 20 employees at its European headquarters in Frankfurt, but headcount is expected to increase significantly in the next three years.

Developing cloud services in Europe could help Tencent add more European gaming titles to its platform and enable it to provide better game engagement for local and overseas players, according to analysts cited by the German newspaper.

Tencent's move to hike investments in Europe comes amid the trade conflicts between China and U.S., the report said.