China: Internet giants Tencent, Baidu inject $1b in auto portal Bitauto

A man uses a mobile phone in front of a logo of Tencent. REUTERS/KIM KYUNG-HOON

Auto portal Bitauto Holdings Ltd has recently raised $1 billion from Tencent Holdings Ltd, Baidu Inc and Inc as it seeks to be China’s largest online car financing platform, its chief told Reuters on Thursday.

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