Mall and logistics park operator China South City (1668.HKG) on Tuesday announced plans to invest US$2.06 billion in the coming fiscal year to support an e-commerce partnership with Tencent (0700.HKG), South China Morning Post reported. China South City will develop a Wi-fi digital solution service to disseminate promotional messages to users of Weixin, Tencent’s mobile text and voice messaging platform. It also plans to launch a CSC-Weixin Mall, with the products sourced from China South City’s outlet platform, allowing QR code payment and Weixin payment services. The deal comes after Tencent acquired a 9.9 % stake in China South City in January.
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