China Underground > China Finance > Tencent Sets Up Its New Cultural and Creative Headquarters in Chengdu High-tech Zone

Tencent Sets Up Its New Cultural and Creative Headquarters in Chengdu High-tech Zone

Tencent, one of the largest integrated Internet service providers in China and one of the world’s top 500 enterprises, has ramped up its investment in Chengdu to expand into the cultural and creative industry.

Recently, Tencent inked an investment and cooperation agreement with Chengdu High-tech Zone (CDHT) on Tencent’s new cultural and creative headquarters project, marking the launch of the tech giant’s first functional headquarters in the country.

Tencent’s new cultural and creative headquarters, with a total investment of RMB 5 billion, will be situated in Chengdu’s new economic vitality area of CDHT Southern Park. It will focus on the development of new cultural and creative businesses such as games, esports, animation, videos and cultural tourism, and attract upstream and downstream enterprises in the industrial chain such as IP operation, game & animation, electronic sports contest operation, live streaming and re-broadcasting, so as to forge Tencent’s new cultural and creative industry ecosystem.

Since 2012, Tencent has taken IP as its core competence. Under the strategy of “pan-entertainment”, it has gradually built a digital cultural ecosystem covering a wide array of digital businesses such as games, literature, animation, films and television, and electronic sports, and garnered a leading position in many fields at home and abroad.

In addition to Tencent, investment projects of Alibaba, NetEase, Baidu, Kuaishou, iQiyi, VIPkid and other industry giants in the new economy have been launched successively this year, unleashing new economic vitality of Chengdu High-tech Zone.

In recent years, Chengdu has taken the development of new economy and cultivation of new drivers of growth as a strategic choice to boost urban transformation. Having ranked the third in China in new economic vitality index, the city is speeding up to become a city most suitable for new economic development.

As a high ground for Chengdu’s new economic development, Chengdu High-tech Zone is focusing on 5G communications and artificial intelligence, network audio & video and digital cultural creation, big data and network security and other new economic industries, and propelling the construction of a new economic vitality area in Chengdu.

Statistics show that Chengdu High-tech Zone is home to more than 90,000 new economic enterprises, and has cultivated 383 gazelle enterprises and 5 unicorn enterprises.

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