Tencent, China Merchants Bank Sign Strategic Agreement

Chinese Internet company Tencent and China Merchants Bank have signed a strategic cooperating agreement to realize overall cooperation for the construction of a financial service platform.

The signing of the agreement marks the first overall cross-industry cooperation between a financial organization and an Internet portal in China. The cooperation will reportedly cover various sectors, including branding, services, and industry development. The two parties will promote each other’s products and services, implement mutual marketing of customers, jointly organize charity activities, jointly initiate marketing activities, and jointly hold financial brand forums.

Tencent and China Merchants Bank have maintained a close partnership and the two parties have extensive cooperation in various areas. The comprehensive agreement signed this time is expected to promote the partnership of the two companies to the next stage.

No financial details or projections for this deal have been released.