(Yicai Global) June 6 -- China's leading internet conglomerate Tencent Holdings' cloud computing unit signed a cooperation agreement with regional retail giant Liqun Commercial Group, which has a presence in East China's Shandong Province, to establish e-commerce platforms for the latter.
Tencent Cloud Computing and Liqun signed on June 4 the CNY3.68 million (USD575,000) deal on smart new retail offline-to-online, commonly referred to as O2O, project service, the Qingdao-based company said in a statement yesterday.
The latest agreement follows an earlier framework deal the two sides signed in March for Tencent Cloud to provide secure and reliable online platforms for the latter's smart retail business. It took both sides nearly three months to set the specific cooperation terms.
Tencent Cloud will also develop an app and WeChat mini app for Liqun and provide technical and management training and after-sales service, the statement said.
Tencent's technical advantages in technology and online traffic will help boost the company's smart retail structure, improve its operation and management capabilities, and achieve online and offline business interoperability, it added.
Editor: Mevlut Katik