Bank of China: Alibaba, Tencent headed to Philippines on investment mission
The meetings will be held as finance ministers from the region convene in Cebu this week
The Bank of China announced on Tuesday that representatives from Chinese tech giants Alibaba and Tencent are heading to the Philippines to discuss investments in the country.
The two firms will be among 95 Chinese investors joining the meetings, and the Bank of China has said it is willing to lend US$3 Billion for projects in the country.
Also attending the investment mission will be 13 fund managers who manage as much as US$40 billion in assets.