Friday, 24 March, 2023

Tencent faces broad China clampdown on fintech, deals

<p>Tencent has been put on notice by the Chinese authorities. The conglomerate was censured by the local antitrust watchdog on Friday. Media reports suggest that the token fine was just a beginning, as Tencent is said to be the next in line for larger scrutiny after the clampdown on Ant Group. &nbsp;Ant and Tencent, reports said, will set an example by the authorities for other fintech players. Tencent, Alibaba, JD.com and Baidu together control over 40 financial licenses.</p>