Tencent leads China Tech selloff amid crackdown fears

Economy 02/23/22, 17:38

On Feb. 21, Chinese gaming giant Tencent Holdings shares fell 5.2%, the most since September last year. Its stock price has fallen 40% from the peak in January last year. Other tech companies in China also saw their shares drop, with the sector, in general, seeing the worst two-day decline since ...

Tencent fires 70 employees and blacklists 13 firms in anti-corruption campaign

China 01/26/22, 20:59

Tencent Holdings, China's largest social media and video gaming business, said that it had fired roughly 70 employees last year due to bribery and embezzlement offenses and that it had blacklisted 13 companies from future contracts. According to Reuters, the company will no longer deal with the blacklisted companies, and it ...

Tencent fined in China for failing to report deals

China 01/08/22, 13:37

China's State Administration for Market Regulation (SAMR) penalized Tencent Holdings on Wednesday (Jan. 5) for failing to properly report its transactions. Late on Tuesday, Tencent reduced its stake in Sea Ltd, a tech giant of gaming and e-commerce in Singapore, which is considered the most valuable stock in Southeast Asia. With 14.5 ...

Alibaba and Tencent start exchanging their apps’ ecosystem

Tech 10/18/21, 19:40

Two Chinese technology groups Alibaba Group Holding and Tencent Holdings had begun allowing each side's application ecosystem to exchange, ending the time when each technology company had a monopoly in its world. Chinese media reports that Alibaba services such as food delivery platform Ele.me and video streaming site Youku Tudou now ...

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