Tech giant Tencent plans to invest nearly $7.7 billion to support China’s environmental, social initiatives

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Chinese internet conglomerate Tencent announced to invest nearly $7.7 billion in environmental and social initiatives, including food security, rural revitalisation, carbon neutrality, energy and water provision.

“Tencent should continue to respond to the ever-changing needs of the public and of the era, so as to develop and prosper together with society as a whole,” said Pony Ma, founder and chairman of Tencent.

China-based social media and video games company will also set up a corporate development group to lead such initiatives, Reuters reported.