The Alipay Foundation, the Alibaba Group's charity, will head a CNY1bn ($145m) investment in women's football in China. In addition to its own funds, Tencent has also invested heavily into other Chinese sports and entertainment companies, including China's first professional soccer team, Shanghai Shenhua, which was founded by former footballer Li Shufu.
The Alipay Foundation, the Alibaba Group's charity, will head a CNY1bn ($145m) investment in women's football in China. Alipay said the deal was an extension of its successful two-year programme in Hainan province.