Tencent looks well shielded from Beijing’s new rules for big tech
China’s banking regulator has vowed to escalate its fintech clampdown
12 November 2020 - 11:10
New York — Tencent joined Alibaba and much of China’s internet sector in a $290bn sell-off after Beijing signalled its strongest intentions yet to rein in big tech. Yet the social media and gaming company is in some ways better shielded than its peers from any potential crackdown.
Executives unfurling earnings on Thursday will seek to reinforce perceptions Tencent is not in the same boat as fintech company Ant, the Alibaba affiliate forced to call off what would have been the world’s largest initial public offering (IPO) after Beijing tightened its control of online lending...
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