Tencent said to face broad China clampdown on fintech, deals ...Qatar

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Pony Ma’s Tencent Holdings has been put on notice. Asia’s largest conglomerate was censured by China’s antitrust watchdog yesterday as Beijing expands a crackdown that began with Jack Ma’s online empire. The token fine is just the beginning. China’s top financial regulators see Tencent as the next target for increased supervision after the clamp down on Jack Ma’s Ant Group Co, according to people with knowledge of their thinking. Like Ant, Tencent will probably be required to establish a financial holding company to include its banking, insurance and payments services, said one of the people, seeking anonymity as the discussions are private. The two firms will set a precedent for other fint

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Last updated : 12 March 2021 clock 10:00 PM

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Tencent said to face broad China clampdown on fintech, deals ...Qatar

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