Tencent to invest no less than RMB10 billion (about $1.64 billion) in the companies it has registered in Qianhai financial zone, Pony Ma, CEO of Tencent, said at a conference organized by the administration bureau (source in Chinese).

The Qianhai Shenzhen-Hong Kong financial and modern services development zone was approved by China State Council in mid-2012. Tencent is one of a dozen mainland companies that have signed up to establish financial companies or invest in financial or other modern services there.

The Chinese Internet giant has registered several companies on e-commerce and finance there with RMB1.6 billion (more than $200 million) in total registered capital, according to Mr. Ma. The businesses those companies will cover include WeChat Payments, online financial services, foreign currency exchange, etc.

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Tracey Xiang

Tracey Xiang is Beijing, China-based tech writer. Reach her at traceyxiang@gmail.com