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China's Tencent To Invest CNY1 Billion In Search Engine Development [chinatechnews.com]
Chinese Internet company Tencent has recently started a marketing campaign for its search engine product in Shanghai and this business promotion will be launched in nine cities in China, including Beijing, Shanghai, Guangzhou, Shenzhen, and Chengdu.
Xiong Minghua, chief technology officer of Tencent, revealed to local media that in the past five years, Tencent has invested CNY1.2 billion in the research and development of its search engine product, Soso.com; and the company plans to invest an additional CNY1 billion in the sector in 2012.