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E-commerce giant Alibaba Group Holding Ltd said on Wednesday it would set up a mobile gaming platform in China, venturing into a fast growing sector dominated by tech rival Tencent Holdings Ltd. Mobile gaming is hugely popular in China, home to the largest number of smartphone users in the world. In 2013, mobile gaming revenue accounted for 11.24 billion yuan ($1.86 billion), or 13.5 percent of the overall Chinese video gaming market, the world's third largest. Liu Chunning, a former Tencent executive who now heads Alibaba's digital entertainment business, said in a statement the mobile gaming platform would be offered free to developers for the first year.
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