State bank CCB partners with Tencent

State-owned China Construction Bank (CCB) and tech giant Tencent have teamed up to build a lab focused on fintech innovation, it was announced in Shenzhen this week. The lab will be led by Tencent’s cloud business unit, reports Caixin Global.

Tencent’s rival Ant Financial has also inked multiple deals with Chinese state banks, including CCB in May 2017, according to CGTN.