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Media & Entertainment

Tencent awaits more regulation from Beijing as gaming revenue slips

Group president calls China's constraints on internet 'loose'

Quarterly revenues from WeChat Pay and other financial technology and business services jumped 40% from a year before.    © Reuters

HONG KONG -- The Chinese tech group Tencent Holdings has told investors to expect more regulation of the internet in the near future, as Beijing increases pressure on issues ranging from data privacy to protection of minors.

The prediction came as the company reported a better-than-expected quarterly profit thanks to its thriving advertising and services businesses. But China's crackdown in other areas, including gaming, has knocked about 40% from its market value since January.

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