China: Tencent breaks off online literature service into independent business unit

Chinese Internet company Tencent announced that its Internet literature business will implement independent operation as a subsidiary and Wu Wenhui has been appointed chief executive officer of this new entity.

Meanwhile, Shang Xuesong was appointed president of Tencent Literature; Zhang Rong was appointed senior vice president; and Cheng Wu, vice president of Tencent, was appointed chairman of this new company.