TOKYO/HONG KONG -- China's Tencent Holdings may be feeling a bit bruised after a year in which it has faced harsh criticism from Beijing over the effects of online games on children. Shares in the Chinese social media and gaming company have tumbled by a third since January and in August the group announced its first quarterly profit dip in 13 years.
So news that it plans a restructuring that will align it more closely with Beijing's "Made in China 2025" initiative is either happy coincidence or a canny move to gain favor by promoting the country's ambitions to join the ranks of U.S., Germany and Japan as a major industrial power.
