Tencent sees focus of internet development shifting from consumers to business in next two decades

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A Tencent sign at the fourth World Internet Conference in Wuzhen, Zhejiang province. Photo: Reuters

The next 20 years of internet development will centre on “2B”, or services to businesses, shifting from a focus on consumers in the past two decades, according to Tencent Holdings executives at the company’s partners’ day in Nanjing, China.

“Tencent will play a role of being an assistant to help the internet integrate smart retail, medical, education as well as the manufacturing sectors,” Dowson Tong, president of Tencent’s newly established Cloud & Smart Industries Group, said in the opening speech at the two-day event. “In the coming two decades, Tencent will join with all partners to embrace industrial internet.”

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