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The gaming platform will support both Chinese and global users through a single storefront and is due to go online on 1 September 2017, Tencent has stated that the platform will focus on PC and standalone games and will no longer host web or mobile games, and will provide support to small and indie companies.
Aside from mainstream games, the company has promised to also launch titles which includes Stardew Valley, Rocket League, Portal Knights, Minecraft, Cities: Skylines, with 170 games promised by the end of 2017.
The announcement of the deal propelled CICC's shares by as much as 16 percent.
Tencent Pictures unveiled that it intends to expand cooperation with overseas film and TV companies on new productions, as well as making more long-term investment in the movie and TV industry.
Its many services include social network, music, web portals, e-commerce, mobile games, internet services, payment systems, smartphones, and multiplayer online games, which are all among the world's biggest and most successful in their respective categories.
Its mobile chat service We Chat has helped bolster Tencent's continued expansion into smartphone services.
; literally: "Soaring information"; SEHK: 700) is a Chinese investment holding conglomerate whose subsidiaries provide various Internet-related services and products, telecommunication services and technology both in China and globally.
Tencent in 2013 increased its stake in Kingsoft Network Technology, a subsidiary of Kingsoft Corporation, to 18%.
Tencent previously had a 15.68% stake in the company and raised the stake through a USD 46.98 million investment.
On March 10, 2014, Tencent bought a 15 percent stake in Chinese e-commerce website Inc.
Tencent remained the largest video game publisher in the world by revenue, and had a market capitalization of around 5 billion.
In the same month, Tencent announced the company's Q3 results that exceeded optimistic expectations with skyrocketing sales, net income and gaming revenue, while Wechat reached 980 million monthly active users.