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Strategies & Market Trends : Greater China Stocks

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To: Julius Wong who started this subject	11/21/2003 7:34:41 AM
From: Julius Wong	of 8334

Tencent takes on China Internet portals Friday November 21, 4:03 am ET By Juliana Liu BEIJING, Nov 21 (Reuters) - China's most popular messaging service, positioning itself for an IPO, said on Friday it had set up a Web portal to help it compete in a market that is home to some of the world's best performing stocks. Shenzhen-based Tencent Technology Ltd launched a test version of its entertainment Web site www.QQ.com on Thursday evening, spokeswoman Lou Lili told Reuters by telephone. "Our goal is to become a mainstream Internet portal that focuses on entertainment," she said. "Our customer base and our messaging service were already moving in that direction." The firm's "QQ" instant messaging service is China's most popular, with 226 million registered users and 71 million active users. The service allows users to write to each other on computers, mobile phones and pagers. Lou said the firm, founded in 1998 and now with about 600 employees, would seek an initial public offering next year. She declined to reveal any financial details. biz.yahoo.com

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