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Media & Entertainment

Tencent president says Big Tech needs more regulation

Chinese group beats profit forecast on hit games and fintech

Tencent's logo is seen in Beijing: The company's president, Martin Lau, says the tech sector faces a "new reality."   © Reuters

HONG KONG -- Even as investors scramble to understand how a recent policy tightening will affect China's booming internet economy, the president of Tencent Holdings says that more regulations are needed in China to reflect a "new reality."

Thursday's comments by Martin Lau were made when the Shenzhen-based group reported a better-than-expected September quarter, thanks to a soaring demand for online games.

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