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China's Tencent strikes cultural deal with UK, partnership with BBC

China's Tencent Holdings Ltd. has struck a trade deal with the U.K's Department for International Trade to deepen its ties with British cultural industries, Reuters reported May 9.

The deal will cover film, video games and fashion, to be offered by Tencent to its domestic audience in China. It includes a three-year partnership with the British Broadcasting Corp. and Tencent Penguin Pictures for joint productions, content development, commercial licensing and promoting and distributing documentaries.

Tencent will work with tourism board Visit Britain to build a new version of racing game "QQ Speed" and will collaborate with Oxford University to host games and courses promoting e-sports.

The memorandum of understanding will pave the way for Tencent's plans to expand its global footprint, starting with Europe, and fortify bilateral cooperation, Tencent's Senior Executive Vice President Seng Yee Lau reportedly said.