International investors are feeling bruised and uncertain as days of heavy selling hammered China’s top technology stocks that began to seep into currency and debt markets.
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China’s leadership perceives the same set of problems as the West when it comes to Big Tech. But it’s willing to go a lot further to rein in the clout of its tech giants. Investors should be afraid.
China’s antitrust regulator is set to order Tencent to give up exclusive rights to music labels that it’s used to compete with smaller rivals, two people with knowledge of the matter said.
China has issued a sweeping warning to its biggest companies, vowing to tighten oversight of data security and overseas listings just days after Didi Global’s contentious decision to go public in the US.
President Xi Jinping’s government is reining in the country’s most powerful corporations and their billionaire founders, including Alibaba Group, Tencent Holdings and Didi Global. But why?
Vodacom has taken the wraps off its much-anticipated VodaPay “super app” in South Africa, designed in collaboration with Alibaba Group-owned fintech services platform Alipay.
Tencent Holdings reported a 25% gain in quarterly revenue as China’s largest company sustained a boom in gaming and cloud that began during the Covid-19 pandemic.
Vodacom Group is expanding its financial and e-commerce services in South Africa through a partnership with AliPay, seeking to accelerate growth in a market hampered by a lack of new broadband spectrum.
China is preparing a substantial fine for Tencent Holdings as part of its sweeping antitrust clampdown on the country’s Internet giants, two people with direct knowledge of the matter said.
Pony Ma pledged $7.7-billion towards curing societal ills and lifting China’s countryside out of poverty, echoing Xi Jinping’s priorities at a time Beijing is tightening its grip on Internet giants.