May 9, 2018 / 7:01 AM / 6 months ago

China's Tencent signs broad cultural deal with Britain

LONDON, May 9 (Reuters) - Chinese internet giant Tencent will announce a cultural trade deal with Britain, including film, video games and fashion, deepening cooperation between the two countries and setting the the stage for its own international expansion moves.

Tencent, China’s second most valuable company, runs the country’s biggest social network, music and gaming systems.

Its billion user-strong WeChat messaging app sits at the heart of China’s booming internet economy, yet the company remains largely unknown to Westerners outside of technology or financial circles.

Tencent said the initial focus of the Memorandum of Understanding (MoU) it has agreed with the UK Department of International Trade would be on film, video games and fashion, which it will bring to its large domestic audience in China.

Reporting by Eric Auchard in London, editing by Louise Heavens

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