Tencent to set up fintech lab in Xiongan

Technology giant to create innovation platform, digitize medical services

Tencent Holdings Ltd, Asia's most valuable firm, is planning to set up a financial technology lab and digitize public medical services in the Xiongan New Area, as part of a broader push to gain a foothold in China's latest economic zone.

The tech giant formed a strategic partnership with the local authority on Thursday, pledging to bring its cloud computing, blockchain and big data technologies to a variety of scenarios in the public and private sectors, according to a statement released on Friday.