(Yicai Global) June 30 -- Chinese internet titan Tencent Holdings will provide financial technology services to CSC Financial, one of the country’s largest brokerages, to help the firm innovate its securities-related businesses. CSC Financial’s shares rose.

Tencent’s technological prowess and its Wechat resources will enable Beijing-based CSC Financial, which trades as China Securities, to advance its tech innovation, according to Wang Changqing, the broker’s chairman.

The pair may collaborate on projects such as fintech, financial businesses, user services, and the creation of an online investment platform, according to the deal signed yesterday. They will also focus on channel and capital operations as well as brand building. Further details are yet to be negotiated.

Shares of CSC Financial [SHA:601066] closed 1.9 percent up today at CNY31.43 (USD4.86), while Tencent [HKG:0700] fell 1.1 percent to HKD584 (USD75.20).

The fintech sector is expanding rapidly, so China’s securities brokers and internet giants are exploring ways to work together. Tencent has already partnered other players in the sector, including China International Capital Corporation, China Galaxy Securities and Industrial Securities. Alibaba Group has also forged similar tie-ups.

Editor: Futura Costaglione