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Tencent boosts global investments as Beijing cracks down on gaming

Social media, gaming and fintech group strikes a record 16 deals in Europe

SINGAPORE/HONG KONG (Financial Times) -- Tencent has increased its investments in overseas startups more than sevenfold this year, fueling a global expansion by China's most valuable company as Beijing tightens regulatory scrutiny on tech groups.

The social media, gaming and fintech group struck a record 16 deals in Europe, bringing its total number of international investments to 34 for the first six months of 2021, according to data from Refinitiv. That compared with four overseas deals in the same period in 2020 and three in 2019.

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