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Tencent market value hits 200 bln USD for 1st time

Xinhua, April 14, 2015 Adjust font size:

China's Tencent Holding Ltd hit a market cap of more than 200 billion U.S. dollars for the first time on Monday, making it the second Chinese internet company after Alibaba.

The country's biggest social networking and online entertainment firm edged up 5.38 percent to 170.5 HK dollars in trading in Hong Kong on Monday, giving it a market value of 206 billion U.S. dollars.

Currently more than 50 percent of Tencent's revenue comes from its games business. Analysts see advertising as a new growth points of the firm.

At the end of 2014, active users of its online messaging platforms of QQ and Wechat topped 800 million and 500 million respectively.

And the company has signed cooperation agreements with governments of Shanghai, Chongqing Municipalities and Henan Province, to help promote internet development and smart citizen. Endi