Tencent


Tencent bond deal raises $4.15bn as investors ignore tech crackdowns 

Tencent bond deal raises $4.15bn as investors ignore tech crackdowns 

(ATF) Tencent issued US$4.15 billion in US dollar bonds on Thursday, in one of the largest US dollar bond issuances in Asia this year.Final orders for the dollar-denominated bonds were worth $21 billion, it was reported, which allowed it to tighten the pricing of the four-part deal. Uptake for the …

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ByteDance valuation soars to $400bn as IPO talk intensifies 

ByteDance valuation soars to $400bn as IPO talk intensifies 

(ATF) ByteDance, the parent company of popular short video app TikTok, has reportedly set in motion an initial public offering (IPO) for Hong Kong with a US$400 billion valuation.The valuation of the Beijing-based start-up is swelling quickly as the market capitalisation of its rival Kuaishou has almost doubled since its …

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Ant Group ordered to restructure as a financial institution

Ant Group ordered to restructure as a financial institution

(ATF) China's central bank has ordered Ant Group to reorganise itself as a financial holding company, in a sweeping crackdown on Jack Ma's Ant Group, the fintech conglomerate that has spent months in the regulatory doghouse.The overhaul – which subjects Ant to tougher regulatory oversight and capital requirements – is …

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After Alibaba’s $2.8bn antitrust fine, who will be the next target?

After Alibaba’s $2.8bn antitrust fine, who will be the next target?

(ATF) Alibaba Group’s shares rose in Hong Kong after Chinese authorities announced a fine of over $2.8 billion on the e-commerce giant – but shares of other Chinese internet giants have plunged. Analysts say Alibaba won’t be the last target of Beijing’s anti-monopoly campaign, and other e-commerce giants, such as …

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A glimpse at China's burgeoning edge cloud market

A glimpse at China's burgeoning edge cloud market

According to CNNIC, a national IT think tank, China had more than 989 million Internet users by the end of 2020, accounting for approximately 70% of the country's total population, although that figure only stood at 909 million a year ago. The Covid-19 crisis has clearly contributed to an accelerated …

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Markets this week: Political tensions, PMI numbers

Markets this week: Political tensions, PMI numbers

ECONOMIC EVENTSFinancial markets this week will be on edge after Beijing reacted to sanctions imposed by the United States, European Union, Britain and Canada for what they say are human rights violations in Xinjiang region.In another reflection of the US-China tensions, US-listed shares of China-based Baidu Inc and Tencent Music …

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Tech giants’ shares tumble after block trades worth over $18bn 

Tech giants’ shares tumble after block trades worth over $18bn 

Billions of dollars worth of shares in Chinese tech giants Baidu and Tencent were unloaded on Friday sparked by, it’s claimed, the liquidation of positions by Archegos Capital Management.CNBC reported that the source of the selling pressure was investment firm Archegos – founded by Bill Hwang, who also founded and …

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Big-tech complains but complies as governments crack down 

Big-tech complains but complies as governments crack down 

A government committee led by President Xi Jinping said in mid-March that China would increase oversight of internet platforms to pace the digital economy’s quick development. The pledge follows fines, warnings and mandated service reductions aimed at major Chinese companies since November, when regulators mothballed fintech giant Ant Group’s $37 …

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China bans micro-lenders from 'fleecing' college students 

China bans micro-lenders from 'fleecing' college students

(ATF) China has banned micro-lending firms such as Jack Ma’s Ant Group from granting consumer loans to college students in a bid to prevent more than 30 million students across the mainland from falling into debt traps.The ban strikes another blow against online micro-lending platforms, including Ant Group’s Huabei and …

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Tencent goes on the front foot with China antitrust meeting

Tencent goes on the front foot with China antitrust meeting

(ATF) Pony Ma, the reticent founder of Tencent Holdings, China's biggest social media and video games company, met with China's antitrust watchdog officials this month to discuss compliance at his group, said reports.The meeting is seen to be the most concrete indication yet that China's unprecedented antitrust crackdown, which started …

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