Tencent(腾讯)
Fast facts
- Year Founded
- 2004
Source: Tencent Websitewww.tencent.com/en-us/about.html
- HQ Location
- Shenzhen, Guangdong, China
- Publicly Traded?
- Yes
- Overseas Operations
- Yes
Tencent underwent its most aggressive investment period in 2020, with nearly a quarter of its yearly revenue (17 billion) channeled into foreign investment alone. It currently has offices in Amsterdam, Bangkok, Kuala Lumpur and Singapore, Taipei, Seoul, Tokyo, Palo Alto, and Los Angeles. In 2020, Tencent doubled its overseas revenue, but it only accounted for 7% of its total sales. The company is known for its worldwide popular video games such as “PUBG Mobile” and “League of Legends”. At the same time, it owns minority stakes in many foreign game makers, including “Fortnite” developer Epic Games and Activision Blizzard. WeChat Pay has also been part of Tencent’s overseas expansion project. As of now, WeChat Pay is open to 49 countries and supports settlement in 16 foreign currencies. Lastly, Tencent owns Tencent Cloud International, which operates in 68 availability zones and spreads across 27 regions globally. It is now the third-largest provider of cloud-infrastructure service in China, behind Alibaba Group Holding Ltd. and Huawei Technologies Co.Source: 1. Tencent Website 2. IT Juzi 3. The Wall Street Journal 4. WeChat 5. Tencent Cloud Website
- US Sanctions
- No
- Military Affiliation in China
- No
Revenue
2020Source: Tencent 2020 Annual Reportstatic.www.tencent.com/uploads/2021/04/08/960eae1f18dd716fd3a7d704e123d7a5.pdf
Valuation
Valuation is reported as market capitalization. It was converted from HKD using the exchange rate from June 26, 2022 13:49:52.Source: Yahoo Financefinance.yahoo.com/quote/TCEHY/key-statistics
Employees
Source: Tencent 2020 Annual Reportstatic.www.tencent.com/uploads/2021/04/08/960eae1f18dd716fd3a7d704e123d7a5.pdf
Based in Shenzhen, Tencent is one of the world’s largest technology companies. Its businesses span a wide array of internet-related services including entertainment (gaming and music), social media, artificial intelligence, banking, and payment systems.
Tencent owns the most widely used communication platforms across China including the instant messaging app QQ and WeChat. WeChat has become a communication tool and ID that is more essential than a phone number for daily life in China. It also owns Tencent Music Entertainment, which boasts more than 700 million active users and 120 million paying subscribers.
In 2016, Tencent, together with electronics manufacturer Foxconn and luxury car dealer Harmony New Energy Auto, founded Future Mobility (now known as Byton), a pure all-electric vehicle startup. Tencent has created its own AI self-driving program, a competitor to Baidu’s Apollo Project, recruiting numerous industry players.
MIH TC is controlled by Naspers Limited, a South African holding company. Advance Data Services Limited is wholly-owned by Ma Huateng.
Source: Tencent 2020 Annual Reportstatic.www.tencent.com/uploads/2021/04/08/960eae1f18dd716fd3a7d704e123d7a5.pdf
-
- Name
- Ownership
-
- MIH TC Holdings
Source: Qichachawww.qcc.com/firm/h72fe680f39cb8e9e1cff9a7fec6b4a5.html
- 28.86%
- MIH TC Holdings
-
- Advance Data Services
Source: Qichachawww.qcc.com/firm/h72fe680f39cb8e9e1cff9a7fec6b4a5.html
- 7.4%
- Advance Data Services
-
- Ma Huateng Global Foundation
Source: Qichachawww.qcc.com/firm/h72fe680f39cb8e9e1cff9a7fec6b4a5.html
- 0.99%
- Ma Huateng Global Foundation
- Ma Huateng (马化腾), Founder and CEO
- Lau Chi Ping, Executive Director and President
- Xu Chenye, Co-Founder, Chief Information Officer
Tencent underwent its most aggressive investment period in 2020, with nearly a quarter of its yearly revenue (17 billion) channeled into foreign investment alone. It currently has offices in Amsterdam, Bangkok, Kuala Lumpur and Singapore, Taipei, Seoul, Tokyo, Palo Alto, and Los Angeles. In 2020, Tencent doubled its overseas revenue, but it only accounted for 7% of its total sales. The company is known for its worldwide popular video games such as “PUBG Mobile” and “League of Legends”. At the same time, it owns minority stakes in many foreign game makers, including “Fortnite” developer Epic Games and Activision Blizzard. WeChat Pay has also been part of Tencent’s overseas expansion project. As of now, WeChat Pay is open to 49 countries and supports settlement in 16 foreign currencies. Lastly, Tencent owns Tencent Cloud International, which operates in 68 availability zones and spreads across 27 regions globally. It is now the third-largest provider of cloud-infrastructure service in China, behind Alibaba Group Holding Ltd. and Huawei Technologies Co.
Tencent Sanctions
While at this time it appears that this company is not the subject of any U.S. or other global sanctions, it is important to note that Chinese companies tend to have more opaque organizational structures than their Western peers. Chinese companies' affiliated brands, operating units, and overseas subsidiaries are not always obvious or even identifiable. Given this, a Chinese company may not be the subject of sanctions, but one of its subsidiaries may be, thus making it difficult to accurately ascertain a company's full sanctions status.
Tencent Reputational Disclosures
Tencent shares have fallen 42% from a January 2021 high as authorities moved to curb anti-monopoly practices among tech giants. The state-owned Economic Information Daily described games as “spiritual opium” and “electronic drugs,” prompting the company to broach a ban for kids.
China’s Ministry of Industry and Information Technology has told app stores and platforms to implement the order against Tencent apps from November 24, 2021 in a harsh administrative punishment against the tech giant. The regulatory move comes amid Beijing’s ongoing scrutiny of the country’s tech sector. Beijing has been turbocharging its legislative efforts to regulate data in the country.
The latest news on Tencent from SupChina
An NFT explosion is taking place in China, but how long will it last?
An NFT can be almost anything, cost any price, and be subject to few if any regulations, and everyone from Alibaba to Moutai is joining the wave.
China’s monopoly buster took on Alibaba, Tencent, and Meituan last year
The State Administration for Market Regulation this year started to exert its authority to address monopolistic behavior by internet platform companies.
‘Suffer a crushing defeat’ — phrase of the week
Tech firms are laying off thousands of employees, but they are still hiring for their international businesses. However, entering overseas markets doesn’t always work out, and can lead to some spectacular failures.
Following Tencent, mass layoffs at JD.com
JD.com is trimming 10-15% of the staff at a group-buying division, adding to the list of Big Tech firms that are slashing jobs to survive Beijing’s regulatory storm.
Tencent and other tech firms downsize, stocks recover
Tencent is rumored to lay off 10% to 20% of its employees, joining the list of companies restructuring to survive Beijing’s regulatory storm.
Tencent pledges to achieve carbon neutrality by 2030
As one of the world’s largest operators of data centers, Tencent was responsible for 5.1 million tons of carbon dioxide last year, roughly one-tenth of what the entire city of New York emitted in 2020. The company is apparently aware of the problem and is seeking multiple methods to achieve zero emissions.
The top 10 metaverse companies in China
The metaverse, a concept world of virtual and augmented reality, including games and remote working environments, is the hot new thing for China’s tech investors. Here are the top 10 companies in the space.
A young hero takes on Tencent — phrase of the week
A young man called out Tencent for abusive work practices and became a hero on Chinese social media. Watch out for him, cautioned one commenter, using an old Cantonese saying.
Smart trash cans but no social media in new ‘digital economic development plan’
Beijing’s campaign to tame the internet platforms doesn’t mean an aversion to digital technology. But the government wants technology deployed in the real economy, to make factories more efficient, and cities and villages better places to live.
Cloud computing startup bags $40 million in angel financing round
Jiuzhu Network Technology, a cloud computing and networking startup, has raised $40 million in an angel financing round on the back of growing demand for remote work.
The latest news on Tencent from across the web
Tencent asserts ‘social value’ of video gaming technologies
Video gaming technologies are making a contribution to areas outside online entertainment, including culture, science and traditional industries, according to Tencent.
Tencent, ByteDance Implement Fresh Layoffs Amid China’s Economic Pains
The latest round of job cuts at Chinese tech giants comes even as Beijing signals an easing of its regulatory campaign against the tech sector.
Ant Group, Tencent, Baidu and Others Opt for Self-Regulation of Digital Collection Industry - Pandaily
With the China Cultural Industry Association taking the lead, nearly 30 Chinese enterprises and institutions have jointly launched the Initiative for Self-Regulation Development of the Digital Collection Industry on Thursday.
Tencent Cloud and Millennium Technology Services Roll Out i-Care to Connect Patients, Families and Caregivers, Delivering Seamless Comfort Care Anytime, Anywhere
Customers' habits and expectations have evolved dramatically over the last few years across various industries including the medical and healthcare field, driven by the further emergence of digital technologies and cloud computing. With a vision to address patients' and their families' demand for seamless, interactive and insightful medical-related features, Tencent Cloud, the cloud business of global technology company Tencent, today announced its collaboration with Millennium Technology Servic
JD extends partnership with Tencent for three more years · TechNode
Chinese e-commerce giant JD announced on Wednesday that it has signed a strategic agreement with Tencent for another three years, continuing the
JD To Give Tencent $220M More Stock For WeChat Access - Benzinga
Chinese e-commerce giant JD.Com Inc (NASDAQ: JD) on Wednesday said that it renewed its strategic cooperation agreement with the tech and gaming giant Tencent Holdings (OTC: TCEHY) for a period of three years.
Hang Seng posts best month since October while Tencent and SenseTime slide
The Hang Seng and CSI 300 indexes have added a combined US$699 billion of market value in June as China’s economic recovery strengthened. Potential anniversary goodies could fuel the market as President Xi Jinping visits Hong Kong for the handover event.
JD.com to issue shares worth $220 mln to Tencent for WeChat access
China's JD.Com Inc said on Wednesday it would issue shares worth $220 million to investor Tencent Holdings Inc over a three-year period to access certain services on the latter's WeChat platform.
Tencent Partners With BMW, SAIC, NIO To Capitalize On China's Giant EV Market - Benzinga
Tencent Holding Ltd (OTC: TCEHY) aims to sell technology to help foreign automakers tap China’s enormous electric vehicle market,
Morningstar Likes Alibaba, Tencent, JD.com
Lorraine Tan, director of equity research at Morningstar, discusses the opportunities she sees in stock markets across Asia. She speaks with Haidi Stroud-Watts and Kathleen Hays on "Bloomberg Daybreak: Asia." (Source: Bloomberg)
Alibaba and Tencent’s darkening clouds
Chinese tech giants lag behind pace of US rivals as Beijing favours state vendors
Rare Collaboration: Fleet Management Companies Backed By Tencent, Alibaba Agree To Merge - Benzinga
Tencent Holdings Limited (OTC: TCEHY) and Alibaba Group Holding Limited (NYSE: BABA) are https://www.benzinga.com/news/21/09/23127181/alibaba-opens-up-walled-garden-to-allow-rival-tencents-payment-system-in-s
Alibaba is China’s best-paying tech firm but Oppo, Tencent better for bonuses
Alibaba is the best-paying tech firm in China, with an average monthly salary of US$5,000, ahead of ByteDance and Tencent Holdings, but Oppo and Tencent are more generous with bonuses, a survey finds.
后独家版权时代网易腾讯硝烟再起 网易云音乐诉腾讯音乐不正当竞争 - 21财经
NetEase Cloud Music yesterday filed a lawsuit against Tencent Music for unfair competition, claiming the latter was playing unauthorized and fake songs, and plagiarizing NetEase Cloud Music’s innovations. The two music platforms have been entangled in copyright disputes for years.
多家民营银行披露最新业绩 微众、网商净利润增近四成
Growing private banks: Private banks rapidly increased their asset scale, operating income, and net profits in 2021. Tencent’s WeBank, for example, had total assets of 438.74 billion yuan ($68.89 billion), operating income of 26.98 billion yuan ($4.23 billion), and net profits and 6.884 billion yuan ($1.08 billion), year-on-year growth rates of 22.65%, 35.75%, and 38.87%, respectively.
Tencent to block Chinese gamers' access to foreign, unapproved games
Tencent will block access to foreign games by closing a service that allows Chinese gamers to play overseas games, due to “an adjustment in business operation strategy,” the company announced on Wednesday.
China approves new online games as crackdown eases
China has approved new online games in a sign that the long recent crackdown on the industry may be easing. But the list of new licenses granted for 45 games doesn’t include those from foreign developers or Tencent, which is now perhaps the world’s most important gaming company. Reuters says that “companies had bent over backwards after facing heavy criticism from authorities for being non-compliant.”
China Ends Video Game Freeze By Handing Out First Licenses Since July
Gaming licenses get approved again: After nine months without a single new video game title approved for release in the Chinese market, the National Press and Publication Administration resumed gaming approvals on April 11. Of the 45 titles approved, industry leaders Tencent and NetEase were “noticeably absent,” Bloomberg reports, but the stocks of many gaming companies, including industry leaders, rose by 6–8% in pre-market trading in response to the news.
国家网信办：互联网企业近半年来用工人数保持平稳 - 21财经
12 of China’s largest tech firms saw a net increase of 79,100 employees from July 2021 to mid-March 2022: 216,800 people left but 295,900 new employees were hired at companies including Tencent, Alibaba, Meituan, and JD.com, according to the Cyberspace Administration of China.
Two mystery executives reap $200m each at China’s Tencent
Mysterious execs at Tencent: The company paid out more than $200 million each to two unidentified executives in 2021 while founder Pony Ma’s compensation was cut for a year.
腾讯第四季度营收1442亿元 净利润248.8亿元_新浪网
Tencent has released its slowest revenue growth on record. The company reported fourth-quarter revenues of 144.2 billion yuan ($22.62 billion), and a net profit of 24.88 billion yuan ($3.9 billion), a decrease of 25% year-on-year.
Tencent reported to be cutting 20% of its workforce · TechNode
Rumor has it that Tencent is cutting 20% of its staff, according to some reports, joining the list of big tech companies that have trimmed their workforce starting last year.
China Crackdown Risk Roars Back With Probe of Jack Ma’s Empire
Further crackdown fears have hit Alibaba, Tencent, and Meituan, who collectively shed more than $100 billion in three days of trading after a “series of events that suggest Beijing is once more preparing to rein in its giant private sector.” One of those events was a recent warning from multiple regulators to institutions to double-check their exposure to Alibaba’s Ant Group.
China's Tencent restores Fight Club ending after backlash
A rare instance of reversed censorship: Tencent restored the original ending to Fight Club after the abridged version of the movie triggered social media backlash over cinematic censorship, per Bloomberg. Tencent’s version had replaced the explosive ending with a silent line of text declaring that authorities brought the criminals to justice, the BBC reports.
Fight Club Ending in China Changed Back After Weibo Social Backlash
A rare instance of reversed censorship: Tencent restored the original ending to Fight Club after the abridged version of the movie triggered social media backlash over cinematic censorship, per Bloomberg. Tencent’s version had replaced the explosive ending with a silent line of text declaring that authorities brought the criminals to justice, the BBC reports.
国家出手！13张罚单集中公布！涉及多家巨头
Internet companies have just been hit with another round of fines (in Chinese): Tencent, Bilibili, Alibaba, and the white goods firm Hisense, among others, were fined for monopolistic behaviors, but the fines were tiny: 500,000 yuan ($78,683) each.
China Launches Digital Yuan App in Pilot Cities Nationwide
A digital yuan app has now launched in 12 cities and regions, including Shenzhen, Shanghai, Beijing, and Zhangjiakou — another hosting location of the Beijing Olympics next month. Caixin reports that the app allows users to choose between nine partner banks, including Tencent’s WeBank and Ant Group’s MYbank, and transfer funds and make online and offline payments.
China Fines Alibaba, Tencent in Latest Antitrust Investigation
Just another day in antitrust enforcement: “Alibaba, Tencent, and Baidu are the target of another round of antitrust fines on Saturday [November 20] totaling 21.5 million yuan ($3.4 million),” per Bloomberg via Caixin. Other big names in China tech such as JD.com, ByteDance, and Meituan were also “fined 500,000 yuan ($78,000) for each violation” of antitrust law, TechNode reports. Caixin notes that the “first salvo since the appointment of Gān Lín 甘霖 as the head of the country’s anti-monopoly bureau” was met mostly with a shrug by markets.
Tencent ends content creator incentive project after backlash · TechNode
Tencent is ending an incentive program to attract content creators to its video platform from competitors like Bilibili and Kuaishou after accusations the company lured them in with false promises.
China Evergrande to Shed Stake in Tencent-Backed Venture for $273 Million
Cash-strapped property giant Evergrande said it will sell its entire stake in a provider of video streaming and Internet home services—in which it invested jointly with internet behemoth Tencent in 2015—for $273 million.
South African payments gateway Ozow raises $48M Series B led by Tencent
Tencent led a $48 million funding round for South African startup Ozow, which aims to make financial services more widely accessible to underbanked South Africans.
China’s game licensing freeze could soon thaw, as stocks jump at the news
Regulators will restart video game approvals later this month, ending the longest licensing freeze since 2018, and bringing relief to developers increasingly looking to international markets.
36氪独家｜小红书完成新一轮5亿美元融资，投后估值高达200亿美元_详细解读_最新资讯_热点事件_36氪
Social commerce app Xiaohongshu’s valuation is up to $20 billion, doubling within half a year, after raising $500 million from investors including Tencent and Alibaba.
Tencent launches three new chips as China's tech giants bolster efforts in semiconductors
Tencent is joining China’s race for semiconductor self-sufficiency, designing three chips for various AI and networking applications, per CNBC. But like others, these chips would rely on overseas ARM architecture, which could pose geopolitical risks, as Paul Triolo explained on SupChina.
China ministry orders 38 apps to rectify excessive collection of personal data
The government has ordered 38 apps from several companies, including Tencent and Xiaohongshu, to rein in their data collection practices two days after its sweeping Personal Information Protection Law went into effect.
miHoYo joins Alibaba, Tencent, picking Singapore as key international hub
Gaming company expands to Singapore: miHoYo, owner of the massive hit video game Genshin Impact, is the latest of several Chinese companies placing bets on the business-friendly city-state.
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Ride-hailer bags huge Series A: Alibaba– and Tencent-backed T3, a rising Didi competitor, just raised $1.2 billion in the largest haul of any ride-hailing company since 2018.
Is China’s virtual idol boom a trend with staying power? · TechNode
Virtual influencers gain traction: Perhaps looking to avoid scandals and controversies around human representatives, companies are turning to digital characters to promote their brands and products.
Alibaba, Tencent rename their NFTs as ‘digital collectibles’ amid bubble fears
The two companies’ rebranding moves followed state media’s recent warning of a potentially ‘huge bubble’ in the new digital asset market.
Tencent said to form gaming studio for metaverse-like developments
Tencent enters the metaverse: While Facebook reinvents itself with a focus on virtual worlds, Tencent’s gaming division is assembling a new studio across four countries to design its own.
China Weighs Opening Tencent, ByteDance Content to Search, Sources Say
Imagine if Facebook posts showed up in YouTube search results. Beijing may ask Tencent and ByteDance to make such a thing possible, aiming to break down barriers between tech platforms.
Tencent pits its own Honor of Kings and League of Legends against each other
League of Legends: Wild Rift is starting strong in China, and that's not good news to Tencent's biggest gaming cash cow
Ant Group, Tencent open their ‘walled gardens’ to UnionPay
State-owned UnionPay’s mobile payment service is getting wider access to the platforms of industry giants Alipay and WeChat Pay.
U.S. and Chinese Regulators Are in a Bind Over a Three-Letter Acronym
Variable interest entities enabled Chinese companies including Alibaba to raise money in the U.S. Now, VIEs are facing increasing scrutiny at home and in the U.S.
Headache for China’s game developers as memo details Beijing’s red lines
According to memo seen by the Post, games are a new art form that must highlight ‘correct values’ and an accurate understanding of China’s history and culture.
South Korea Is Beating Hong Kong in IPO Proceeds This Quarter
South Korea’s market for initial public offerings has been on fire in the third quarter, with record proceeds that are set to surpass Hong Kong’s for the first time since 2017.
An older China gets bigger WeChat fonts and buttons
Tencent is answering Beijing’s call to help close the digital divide with WeChat’s ‘Care Mode’ for elderly users, which enlarges fonts and buttons and changes the colour scheme.
Alibaba Offers WeChat Pay on Apps as China Cracks Down on Tech
Alibaba Group Holding Ltd. added rival Tencent Holdings Ltd.’s payment system to some of its apps, further widening cracks in the internet giants’ walled-off ecosystems.
China’s 10-year plan for kids: more control on games and live streams
In Beijing’s latest guidelines for children’s development, Chinese leaders want tighter measures to classify games, review content and protect minors’ online privacy.
It's Going to Get Easier to Use China's Apps
Hi all, it’s Zheping in Hong Kong. My life as a Chinese app super user is finally getting easier, but first…
Xi Jinping Aims to Rein In Chinese Capitalism, Hew to Mao’s Socialist Vision
Going well beyond curbing tech giants, he wants the Communist party to steer flows of money and set tighter limits on profit making, his speeches show and officials say. More turbulence for foreign businesses is likely.
Opinion | What Explains Xi’s Pivot to the State?
He’s wagering it will help him achieve his goal of a record third term as paramount leader.
China Defends Tech Crackdown in Meeting With Wall Street Chiefs
China’s top regulators defended their market-roiling crackdown on various industries in a meeting with Wall Street executives, while reassuring them the stricter rules aren’t aimed at stifling technology companies or the private sector.
China Is Said to Slow Game Approvals to Enforce Strict New Rules
Chinese regulators are reviewing new games to determine whether they meet stricter criteria around content and protections for kids, people familiar with the matter said, an effort that’s likely to slow rollouts in the world’s largest mobile arena.
China Tells Internet Companies to Stop Blocking Links From Rivals
Tencent, Alibaba, ByteDance and other technology companies were called to a meeting with Chinese officials last week, as Beijing seeks to end a practice that has become common in the past few years.
Chinese Videogame Stocks Fall After Summons From Regulators
Tencent, NetEase and others were ordered by government regulators to follow recent regulations imposing tighter restrictions over minors’ playing time.
China’s regulators said to slow new video game approvals
A slowdown in licensing new video games is in line with China’s campaign to reduce gaming addiction in minors, according to people with knowledge of the matter.
Tencent-Backed Tech Giant Sea Taps Investors for $6 Billion
Southeast Asia’s most valuable listed company, Sea, is capitalizing on investor enthusiasm for the region’s fast-growing technology industry.
Traders Rush to Dump China Tech Stocks as Gaming Targeted Again
Technology stocks led Chinese shares lower on Thursday after Beijing took aim at gaming companies for focusing solely on profit, underscoring the risk of calling a bottom to the market.
China Tells Gaming Firms to End ‘Solitary’ Focus on Profit
Chinese regulators summoned gaming companies including Tencent Holdings Ltd. and Netease Inc. to discuss further oversight of the industry and the need to deemphasize profits, prompting a steep share selloff.
Chinese authorities call in Tencent, NetEase, others for talk on gaming
Many parents have expressed concerns that kids can find workarounds to circumvent play-time restrictions on games.
China Tech Stocks Meituan, Alibaba Jump After Tencent Share Buyback
Chinese technology stocks rallied to their highest level in more than a month after a new round of share buybacks by Tencent Holdings Ltd boosted market sentiment.
China Finance Regulators Pledge to Tighten Supervision
Chinese officials pledged to tighten supervision in the financial services industry, suggesting a recent regulatory onslaught on the private sector that sent shock waves globally is not over yet.
Alibaba earmarks US$15.5 billion to help China close nation’s wealth gap
The move follows a call last month by Chinese President Xi Jinping for companies to “adjust” high income levels, in a prod for wealthy individuals and companies to “give back to society”.
China’s gaming giants rush to comply with Beijing’s time limit for kids
Tencent rolled out an update to its signature mobile game Honour of Kings to comply with the new rule, while its esports arm TJ Sports said it would overhaul its tournaments.
China gaming stocks rally despite regulators limiting kids' playing time
Chinese regulators announced that minors would only be allowed to play online games for three hours a week, a dramatic tightening of previous regulations.
Tencent officially ends exclusive music licensing as rivals jump in
Tencent Music said its exclusive licensing deals with labels had come to an end as of August 23, as ordered by China’s antitrust watchdog, opening the door to rivals.
Tencent Snapped Up by China Traders After Two-Month Selloff
Chinese investors piled back into beleaguered Tencent Holdings Ltd. in August, braving a relentless tech crackdown from Beijing that almost halved its stock price.
China’s hard stance on video gaming puts spotlight on grey market
China’s tightened limits for kids’ gaming time is expected to steer young people to find alternative platforms on which to play without restriction.
Factbox: From tech to education, China's season of regulatory crackdown
China has launched a multi-pronged crackdown on its tech companies, leaving startups and decades-old firms alike operating in a new, uncertain environment. Chinese regulators have slashed the amount of time players under the age of 18 can spend on online games to an hour of gameplay on Fridays, weekends and holidays, in response to growing concern over gaming addiction, state media said on Monday. China's State Administration of Market Regulation (SAMR) said on Monday it would further regulate the sharing economy, a sector which includes companies facilitating ride-sharing, bike-sharing, home sharing and even the pooling of battery packs for phones.
China to Cleanse Online Content That ‘Bad-Mouths’ Its Economy
China kicked off a two-month campaign to crack down on commercial platforms and social media accounts that post finance-related information that’s deemed harmful to its economy.
Tencent Beefs Up Game Streaming Arm After China Kills Merger
Tencent Holdings Ltd. has begun re-deploying people and resources toward its own game streaming platform, after China blocked a merger that would have cemented the social media giant’s lead in a $3 billion sector.
Ray Dalio is wrong about China's tech crackdown, economist says
Billionaire investor Ray Dalio says investors are misconstruing China's tech crakcdown as "anti-capitalist." Economist George Magnus thinks that's "wrong."
Country Now Comes Before Profit For Companies in Xi’s China
China’s biggest companies are starting to make a habit out of giving away their earnings.
Tim Hortons China to Create Data Unit Amid Xi's Crackdown
The company running the Chinese business of Canadian coffee shop chain Tim Hortons is proposing a novel solution to address Beijing’s data security concerns as it seeks to go public in the U.S. through a blank check company.
Tencent-Backed Comics App Turns Unicorn in $240 Million Round
Kuaikan, a comics app backed by Tencent Holdings Ltd., has raised $240 million in a new funding round that elevated it to unicorn status, giving the company a boost as competition in China’s online entertainment arena intensifies.
China Tech Shares Stage Rebound After Five-Week Selloff
Chinese technology stocks rallied in Hong Kong on Monday as bargain hunters pounced in the wake of the sector’s worst rout in months.
BYD Chip Unit IPO Stalled as China Regulator Probes Adviser
The Shenzhen Stock Exchange said it’s suspended reviewing a share-sale application by BYD Co.’s chip unit following a regulatory probe of an adviser to the proposed initial public offering.
Even After $1.5 Trillion Rout, China Tech Traders See More Pain
Even a $1.5 trillion selloff may not provide an attractive entry point for equity investors as they grapple with cascading risks in China’s technology sector.
China Broadens Restrictions on Driver Data Gathered by Carmakers
China has broadened its crackdown on information gathered by automakers, as part of a wider campaign on how companies handle and protect user data.
Tencent answers call for ‘common prosperity’ with US$7.7 billion fund
The company says the fund will be used to boost the income of low-income groups, improve health care coverage, help rural economic development, and support grass roots education.
China Tech Rout Deepens as New Regulations Mulled; Alibaba Dives
The rout in Chinese technology giants deepened on Thursday after the industry was hit with a fresh round of proposed regulations.
Tencent Doubles Social Aid to $15 Billion as Scrutiny Grows
Tencent Holdings Ltd. is doubling the amount of money it’s setting aside for social responsibility programs, marking one of the largest philanthropic efforts by China’s internet giants as regulatory scrutiny intensifies.
Tencent to Work With Chinese Regulators to Limit Minors’ Online Game Time
The Chinese tech company made the pledge as it reported slowing revenue growth in electronic games amid China’s intensifying scrutiny of the tech sector.
Chinese president vows to ‘adjust excessive incomes’ of super rich
Chinese Communist party to crack down on almost weekly creation of billionaire company bosses
Tencent is Ready to Back its Biggest Investment Yet Ahead of Chinese Regulations
Humility and obedience are a required down payment for companies hoping to show their fealty to Chinese regulators.
Tencent Looks Abroad as Beijing Tightens the Screws at Home
With its credit in Beijing taking a steep nosedive, Tencent’s overseas expansion can soften the blow from regulatory ire at home.
Rift Forms on Didi’s Board Following Beijing’s Regulatory Assault
A rift has developed among the top executives of three of China’s internet giants, in the wake of Didi Global’s decision to go public in New York.
Tencent’s fintech outshines gaming revenue growth amid regulatory scrutiny
Chinese social media and gaming giant Tencent Holdings posted US$6.6 billion in second-quarter profit amid Beijing’s tighter scrutiny of Big Tech.
Tencent Warns of More China Tech Curbs After Growth Sputters
Tencent Holdings Ltd. warned investors to brace for more regulatory curbs on China’s tech sector, telegraphing that Beijing plans to expand restrictions over its internet giants.
Alibaba’s U.S. Shares Fall to Lowest Since 2019 as China Cracks Down
The shares of several tech companies declined after authorities in Beijing released a new round of proposed regulations.
Alibaba’s new blockchain auction site is selling rights to Star Wars art
A new section of Alibaba Auction allows artists to sell the rights to their works using blockchain, with bids next month starting at US$15 per piece.
China Tech Stocks Hit by Salvo of Criticism Over Games
Chinese technology stocks slumped Monday after sustaining another round of criticism from state media over online games.
China State Media Seeks Strengthened Oversight for Online Games
China should tighten regulations of online games to ensure they don’t misrepresent history, state media reported after a government-controlled agency criticized the industry earlier this month.
China’s Corporate Intervention Drives Investors to Industries Beijing Supports
The government corporate intervention in China that has hammered internet stocks is driving investors to sectors still in Beijing’s good graces.
Beijing’s tech crackdown trips trading debut of Tencent-backed Krafton
The PUBG: Battlegrounds creator’s disappointing launch has come after Chinese state media’s latest broadside against video gaming and market leader Tencent.
Alibaba Scandal Gives China's #MeToo Another Chance to Take Hold
Today’s top tech stories:
China Tech Stocks Rise as Analysts Turn Positive After Selloff
Chinese internet stocks rallied in Hong Kong on Tuesday after some brokers started to turn optimistic on the sector and said investors were making an attempt to find a bottom in prices after the recent selloff.
We Doctor Said to Face Data Queries From HKEX Ahead of IPO
We Doctor Holdings Ltd. is fielding queries about its data governance from Hong Kong Exchanges and Clearing Ltd. as the Chinese health-care startup pursues an initial public offering in the city, according to people familiar with the matter.
