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Ma Huateng
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China will have to do more to convince stock investors about the sustainability of the market rally spurred by recent rescue measures, fund managers Pictet and Saxo say.

Chinese social media and gaming giant Tencent Holdings has acquired a controlling stake in a 15-year-old local video game studio, a move that fits with the company’s revenue diversification strategy.

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Bearish investors dominated the local stock market in January, as China’s lack of stimulus showed up in weak manufacturing data. With the Fed seen on hold, there will not be any early relief for the city’s property market.

Only three of 33 Chinese video gaming companies said ‘global political and economic turbulence’ had a ‘relatively big’ impact on overseas operations, according to industry survey.

The founder also warns staff to focus on ‘safety, not speed’ when venturing into new fintech services like loans and insurance, according to Chinese media reports and people familiar with the situation.

The Shenzhen-based internet giant must find new lifelines in its video gaming and social media operations, Ma told employees at the firm’s annual meeting.

The retreat by ByteDance from the mainstay of Tencent’s business is likely to bring the curtain down on a series of online spats and court battles between two internet giants.

Tencent, China’s biggest social media and video gaming company, is closing its live-streaming service Now, as the company continues to consolidate its video businesses.

The internet giant was the first to put in orders for Nvidia’s much-coveted H800 chip, which was designed for export to China to comply with earlier US tech restrictions.

Chinese internet giant Tencent Holdings reported a profit decline for the third quarter of 2023, still ahead of market estimates, as China’s economic recovery continued to face pressure.

WeChat’s short video service Channels brought in US$411.5 million in ad revenue in the second quarter as the app’s monthly users hit 1.327 billion.

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Tencent boss Pony Ma wants AI tech to promote human good and company has already deployed AI technologies to applications that aim to solve social issues.

In this edition of the Global Impact newsletter, we take the temperature of the world’s second-largest economy and looks at what can and will be done.

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In an article published just hours after China unveiled an action plan to invigorate its economy, Ma pledged on behalf of the internet industry to support the government’s latest strategies.

Tencent is looking to replicate the success of a live-streaming bookseller on WeChat Channels for other merchants as it looks to grow its short video platform.

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From India’s energy magnates Gautam Adani and Mukesh Ambani to China’s Zhong Shanshan and Pony Ma Huateng, which billionaires in Asia are giving back big?

Tencent, China’s biggest social media and video gaming company, reported an 11 per cent jump in revenue for the first quarter of 2023, driven by growth in advertising and game sales.

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