Patrick Frater Asia Bureau ChiefChinese games, video and social media giant Tencent was Wednesday rebuked by China’s Ministry of Information Technology for illegal use of consumer data at its ubiquitous Weixin / WeChat super-app.
The move came just a day after another regulator, the State Administration for Market Regulation issued draft rules on competition and data privacy that may be among the toughest in the world.But if the ongoing regulatory crackdown in China against the country’s tech sector is scaring conglomerates and investors alike, the latest financial statements from Tencent show little sign of damage.The group reported revenues of RMB273 billion ($43.3 billion) for the six months from January to June 2021, a 23% annual.
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