stock-exchange-4785080_1920

Tencent Strengthens Industrial Digitalisation Strategy to Accelerate Economic Recovery

Tencent Holdings Limited, the leading internet-based value-added services provider in China, hosted its second Global Digital Ecosystem Summit from September 9-11, 2020 online. Tencent marked the occasion by announcing plans to better support enterprises and industries as many are accelerating their digital upgrades to drive business growth. During the summit, Tencent Research Institute released the Digital China Index Report 2020 indicating China’s digital economy index grew 73.2% in 2019 from the year prior.

“The COVID-19 pandemic reveals that connectivity has become the foundation of economic and social development, and that data is now a key element in production. New infrastructure and technologies should not be used simply to respond in emergency situations, but cultivated for strategic, long-term use,” said Pony Ma, Chairman and CEO of Tencent Holdings Ltd.

Dowson Tong, Senior Executive Vice President of Tencent and President of the Cloud and Smart Industries Group said,  “Data analytics and efficiency enhancement are the holy grail for industries undergoing digital upgrades. Industries that embrace digitalisation will develop and evolve into mutually beneficial ecosystems. Through this process, Tencent will become a helpful ‘digital assistant,’ integrating into various ecosystems and with our partners’ capabilities to provide superior products and services for our customers.”

The Tencent Research Institute also issued The Digital China Index 2020 at the summit, an annual report analysing the development of the digital economy in China. According to the report, the total index for 2019 increased by 73.2% year-on-year, primarily driven by Guangdong, Jiangsu, and Shandong provinces, three of the country’s largest economies by GDP. The digital upgrade in four sectors, including industries, culture and entertainment, life services, and municipal services, drove the substantial uptick in the digital economy.

Tencent has leveraged its technology, solutions, and years of expertise in business development to help industries and enterprises accelerate digital upgrade. By providing artificial intelligence (AI), 5G, blockchain, security and other technologies to enterprise customers, Tencent can help them strengthen their technical foundation to capture the next wave of business growth. More than 300 joint solutions have been formed to date to help enterprises solve practical problems as a result of collaboration with more than 8,000 partners. Tencent is also assisting partners by providing training and investment to support their digital transformation.