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China tech

Tencent's WeChat is door to Chinese giant's transformation

Social media giant says massive user base and data can spur new business

Tencent sees WeChat as a goldmine of data for potential industrial application.   © Reuters

KUNMING, China -- When Chinese social media giant Tencent Holdings announced last year that it was transforming itself into a "digital assistant for industries," analysts immediately had one question: How?

Ten months later and after significant investment, Tencent says it has found the answer in WeChat, its hugely popular instant messaging app.

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