China's largest Internet firm Tencent Holdings said on September 22 it will launch a "super" e-commerce platform next month that will integrate its different social networking products and e-commerce initiatives into one website.
China's e-commerce industry is growing at a rapid clip and Internet companies are rushing to secure their share of the market. Taobao Mall, China's largest B2C e-commerce website, said this week it is aiming to double its transaction value next year to 200 billion yuan.
Tencent runs B2C e-commerce website QQ Mall, C2C website Paipai, e-payment system Tenpay as well as group buying website Tuan QQ and a joint venture company with Groupon, Gaopeng.
Under the new "super QQ online shopping platform", the firm will integrate its existing e-commerce offerings with its social networking products QQ and QQ friends, the firm said in a statement.
It will be launched in the southern province of Guangdong before a full roll out nation-wide. On the website buy.qq.com, the firm said it will begin operations on October 11.