China’s fresh food e-commerce is expected to hit US$22.65 billion this year, according to the projection by China E-commerce Research Center. Photo: Reuters

Tencent buys stake in Chinese supermarket chain, waging war with Alibaba in new retail

The tech giant buys a 5pc interest in Shanghai-listed Yonghui Superstores

Topic |   Mergers & Acquisitions

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China’s fresh food e-commerce is expected to hit US$22.65 billion this year, according to the projection by China E-commerce Research Center. Photo: Reuters
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