Business
China’s tech giants fall under regulator’s pressure – BBC News
Tencent saw $62bn wiped off its valuation while Alibaba may have to sell some of its media assets.
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China’s tech giants are coming under increasing pressure from regulators worried about their growing influence.
By Monday, Tencent had shed more than $60bn (£42bn) from its market value as its share price slid over concerns of greater regulator scrutiny.
Media reports suggest that rival tech giant Alibaba may have to sell some of its media assets under the crackdown.
Chinese regulators have signalled a tougher approach towards tech firms.
China’s State Administration…
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