Tencent to boost development of WeChat app (2)

In a motion submitted to the National People's Congress, Ma said that Chinese Web companies are ready to expand overseas after nearly two decades of development.

"China has developed a number of large Internet companies such as Tencent, Alibaba, Baidu and Sina, which are very competitive in the global market," Ma said.

In the government's work report presented at the opening of the annual NPC session, Premier Wen Jiabao said that China will expand its investments overseas and will back Chinese companies' global expansion ambitions to create a new space for economic development.

"A growing number of Chinese companies in the manufacturing industry have opened businesses overseas during the past several years. China needs to further expand its overseas investments by encouraging more businesses engaged in the services industry, especially in the information and communication technologies, to invest in foreign markets," Ma told China Daily.

The global expansion by Chinese Web companies will help increase the value of China's services trade in the international market.

According to the Ministry of Commerce, the services industry currently accounts for nearly 70 percent of the global economy, but China still has a trade deficit in the services sector.

"More investments in the overseas market from China's Internet companies will help reduce the country's services trade deficit," Ma said.