Beijing's increasing intervention in the internet sector has raised pressure on Chinese businesses ranging from game producers to live-streaming sites, a chilling effect that also may hamper attempts by Facebook and Google to enter the world's largest internet market.
Hong Kong-listed Tencent Holdings reported its first decline in quarterly profit in nearly 13 years on Wednesday, as state regulators failed to grant approval for in-game purchases involving the company's new hit video game, "PlayerUnknown's Battlegrounds Mobile." Online games contribute roughly 40% of Tencent's revenue.
