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Headquartered in Shenzhen, Tencent is one of China's and the world's largest internet services companies, with interests in media, entertainment, web and mobile communications, advertising, e-commerce and internet banking.
- Workers at private tutoring and internet platform companies have seen the value of their stock holdings plummet this year, wiping out savings overnight
- Alibaba, Tencent and others minted thousands of millionaires with their IPOs, but the tech sector is less appealing to young talent amid Beijing’s crackdown
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”.
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”.
Chinese tech giants have committed to helping reduce China’s wealth gap by adding new initiatives to other recent philanthropic efforts announced amid Beijing’s widening crackdown on the sector.
Chinese tech giants have committed to helping reduce China’s wealth gap by adding new initiatives to other recent philanthropic efforts announced amid Beijing’s widening crackdown on the sector.
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.
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.
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 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.
China’s tightened limits for kids’ gaming time is expected to steer young people to find alternative platforms on which to play without restriction.
China’s tightened limits for kids’ gaming time is expected to steer young people to find alternative platforms on which to play without restriction.
Article appears amid Beijing’s ongoing crackdown on Big Tech companies and broader efforts to tighten its grip on data through new legislations and rules.
Article appears amid Beijing’s ongoing crackdown on Big Tech companies and broader efforts to tighten its grip on data through new legislations and rules.
China's National Press and Publication Administration said video gaming companies are the main entities responsible for stopping children from becoming addicted to games.
China's National Press and Publication Administration said video gaming companies are the main entities responsible for stopping children from becoming addicted to games.
The Cyberspace Administration of China published guidelines for a new campaign targeting financial information platforms after other recent crackdowns on fake news and algorithms.
The Cyberspace Administration of China published guidelines for a new campaign targeting financial information platforms after other recent crackdowns on fake news and algorithms.
The Cyberspace Administration of China has drafted new rules to ‘regulate algorithm-empowered recommendation activities on the internet’.
The Cyberspace Administration of China has drafted new rules to ‘regulate algorithm-empowered recommendation activities on the internet’.
The Supreme People’s Court has warned firms about excessive work schedules like the common but controversial tech sector practice of 12-hour shifts, six days a week.
The Supreme People’s Court has warned firms about excessive work schedules like the common but controversial tech sector practice of 12-hour shifts, six days a week.
A new wave of concern puts on display Beijing’s love-hate relationship with video games as well as Tencent’s savvy navigation of an increasingly complex regulatory environment.
A new wave of concern puts on display Beijing’s love-hate relationship with video games as well as Tencent’s savvy navigation of an increasingly complex regulatory environment.
Start-up Kuaikan World (Beijing) Technology has raised US$240 million, the largest fundraising deal in China’s comics industry.
Start-up Kuaikan World (Beijing) Technology has raised US$240 million, the largest fundraising deal in China’s comics industry.
Eight months after Tencent’s acquisition, Leyou is mired in cancelled projects and hobbled by an exodus of employees.
Eight months after Tencent’s acquisition, Leyou is mired in cancelled projects and hobbled by an exodus of employees.
Gaming youth modes have been thrust into the spotlight recently following a public interest lawsuit this month against Tencent.
Gaming youth modes have been thrust into the spotlight recently following a public interest lawsuit this month against Tencent.
The piece was published as investors begin to reconsider the risks and returns of Chinese tech stocks.
The piece was published as investors begin to reconsider the risks and returns of Chinese tech stocks.
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.
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.
The rout in Chinese tech and education stocks may not end until Beijing repairs trust in the market in the face of regulatory assaults, DZ Bank analyst says.
The rout in Chinese tech and education stocks may not end until Beijing repairs trust in the market in the face of regulatory assaults, DZ Bank analyst says.
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.
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.
A new draft regulation expands the power local market regulators have over internet platforms in China as tech stocks continue to be battered by the country’s crackdown.
A new draft regulation expands the power local market regulators have over internet platforms in China as tech stocks continue to be battered by the country’s crackdown.
The deal follows the sweeping measures to overhaul overseas listings announced last month by China, adding a new layer of cybersecurity oversight to the listing plan by any company with access to the data of more than 1 million Chinese consumers.
The deal follows the sweeping measures to overhaul overseas listings announced last month by China, adding a new layer of cybersecurity oversight to the listing plan by any company with access to the data of more than 1 million Chinese consumers.
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.
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’s regulators should tighten their grip on video games to avoid historical misrepresentations, according to the country's top radio broadcaster.
China’s regulators should tighten their grip on video games to avoid historical misrepresentations, according to the country's top radio broadcaster.
Regulators want to tighten qualification standard for so-called ‘key software enterprises’, making it harder for internet firms to enjoy tax reductions.
Regulators want to tighten qualification standard for so-called ‘key software enterprises’, making it harder for internet firms to enjoy tax reductions.
The PUBG: Battlegrounds creator’s disappointing launch has come after Chinese state media’s latest broadside against video gaming and market leader Tencent.
The PUBG: Battlegrounds creator’s disappointing launch has come after Chinese state media’s latest broadside against video gaming and market leader Tencent.
The litigation sends a signal to Tencent and other internet companies to safeguard minors online or face more regulatory scrutiny.
The litigation sends a signal to Tencent and other internet companies to safeguard minors online or face more regulatory scrutiny.
The article from Tencent Research Institute discusses declining valuations and revenue growth in China’s tech sector, a sensitive topic amid Beijing’s Big Tech crackdown.
The article from Tencent Research Institute discusses declining valuations and revenue growth in China’s tech sector, a sensitive topic amid Beijing’s Big Tech crackdown.
Investors in China stocks need to remember to pay attention to what the government is thinking or risk getting burnt – badly.
Investors in China stocks need to remember to pay attention to what the government is thinking or risk getting burnt – badly.
Haidian District People’s Procuratorate says it has found that the youth mode of WeChat has certain violations, hurting the ‘legal interests of minors’.
Haidian District People’s Procuratorate says it has found that the youth mode of WeChat has certain violations, hurting the ‘legal interests of minors’.
Chinese tech giant Tencent Holdings, which runs the world’s largest video gaming business by revenue, has significantly cut down playing time for minors on its flagship game Honour of Kings. The measures were taken in apparent response to claims that video gaming is harming teenagers in China. A report published by a newspaper affiliated with China’s official news agency Xinhua on August 3, 20201, called online gaming “spiritual opium”, singling out Tencent as a source of the problem.
Chinese tech giant Tencent Holdings, which runs the world’s largest video gaming business by revenue, has significantly cut down playing time for minors on its flagship game Honour of Kings. The measures were taken in apparent response to claims that video gaming is harming teenagers in China. A report published by a newspaper affiliated with China’s official news agency Xinhua on August 3, 20201, called online gaming “spiritual opium”, singling out Tencent as a source of the problem.
A clampdown on high earners and efforts to expand the middle class are the cornerstones of Beijing’s bid to fight inequality, but a lack of details has led to rampant speculation – while strict state control over charities has also hampered China’s philanthropic sector.
Despite huge profits, the world’s biggest gaming company by revenue is living up to its responsibilities by restricting how much time and money youngsters can spend on its platform.
Tighter rules on data protection will also impose greater discipline on an industry that is crucial to innovation and productivity gains.
Regulators moved on internet giants to tighten oversight, not for the sake of political intervention, and companies should be reassured their legal rights and legitimate businesses are fully respected and protected.
Expansion of Hong Kong’s stock market aims to make it more representative with mainland companies in the majority, but it does little to encourage the city’s innovation and entrepreneurship.
With only days to go before he steps down, the US president continues to hurt the interests of both Beijing and Washington, but the financial cloud may yet have a silver lining for Hong Kong.
With 2020 the deadline set by President Xi Jinping to eliminate extreme poverty in the nation, the hi-tech industry must spread its wealth and help rural areas in the less-developed provinces progress.
Future growth depends on the tech sector, but if the tech giants are allowed to run wild, it will defeat the purpose of propelling the economy forward.
If given the green light, a proposal by local bourse to change the IPO rule on corporate share ownership will enable the likes of New York-listed Tencent Music and online learning company Youdao to make their ‘homecoming’, triggering another wave of re-listings and IPOs