Naspers’s success with Tencent is proof of the benefits of China’s openness to the world, its ambassador to SA said, as he disputed claims that Chinese authorities’ efforts to curb the power of technology firms are an attack on investors in the biggest recipient of foreign direct investment in 2020.

Naspers, whose most valuable asset is a stake in Tencent, owner of the messaging app WeChat, has seen its value drop almost 20% in the past month, wiping off about R220bn as investors worried about the safety of their capital in the Asian country...

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