London — Chinese internet giant Tencent, of which Naspers owns just more than 31%, has signed a trade deal with Britain to work with its cultural industries, deepening co-operation between the two countries and setting the stage for its own further international expansion. Tencent said the initial focus of the memorandum of understanding (MoU) it has agreed with the UK department of international trade would be on film, video games and fashion, which it will bring to its large domestic audiences in China. It will cover digital, cultural and creative projects with the BBC, British Fashion Council, Visit Britain (the country’s tourist promotion board), and technical publisher Springer Nature, known for titles such as Nature and Scientific American. Tencent, China’s second most valuable company, runs the country’s biggest social network, music and gaming systems. Its billion-user-strong WeChat messaging app sits at the heart of China’s booming internet economy, yet the company remains ...

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