Wu Xiaoguang, Shenzhen-based internet company Tencent's (0700.HK) senior vice president for e-commerce, said today that the chief goal of Tencent's e-commerce platform this year would be consolidation - consolidating the companies in which Tencent had previously invested, and connecting their platforms. As of 2012, Tencent has invested more than RMB 2 bln in the field of e-commerce, in the hopes of achieving RMB 200 bln in transactions over the coming five years.

According to Wu, the growth in demand for online entertainment drove the past ten years of Tencent's growth. As this aspect of the market slows, Tencent will shift its focus to growth in search and e-commerce.

Source:marbridgeconsulting