Tencent, Local Investors to Develop Smart Platform for Travel Hotspot Guilin
Tang Shihua
DATE:  May 21 2018
/ SOURCE:  Yicai
Tencent, Local Investors to Develop Smart Platform for Travel Hotspot Guilin Tencent, Local Investors to Develop Smart Platform for Travel Hotspot Guilin

(Yicai Global) May 21 -- The investment arm of China's largest social media firm Tencent Holdings Ltd. will work with local tourism operators and a government investment fund to build an intelligent travel service serving the idyllic traveler hotspot of Guilin, located in southern Guangxi province. 

Linzhi Tencent Investment Management Co. will team up with Guilin Tourism Co., Guilin Leshang Investment Management Co. (GLIM), and transport company Guilin Communications Investment Holdings Group Co. (GCI) to set up a CNY50 million (USD8 million) joint venture to build the platform called "I Travel In Guilin," said the city's tourism board. 

The travel service will adopt embedded technologies from Tencent's WeChat, which include social media public account, credit system, mini-programs, mobile payment, electronic invoicing, as well as facial recognition and smart tour guide assistant, said the announcement.

Tencent and its affiliates will provide cloud, big data, and information security services, while designing the interface.

GLIM, a service operator specializing in consolidating local tourism resources and handling government relations, will invest CNY19 million to own a 38-percent stake in the joint venture and become its largest shareholder. Guilin Tourism will contribute CNY15 million to own a 30-percent stake, while LTIM will invest CNY12 million to own a 24-percent stake and become the third-biggest shareholder.

Editors: Emmi Laine, William Clegg

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Keywords:   TENCENT,Joint Venture,Investment,Tourist Service Platform,Big Data,Wechat,Social Media,AI,Guilin