Chinese internet giant Tencent has launched its first ‘official’ supply chain finance programme, according to a report in The Asset. The magazine reports that China Merchants Bank is backing the programme, which aims to offer Tencent’s suppliers financing costs that are one third lower than traditional factoring. In November last year Tencent announced that it was building a blcokchain-based supplier finance product┬áin partnership with Linklogis under the name WeChain.