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Tencent’s $40 Billion Gain Masks a Deeper Long-Term Threat

  • WeChat operator faces rivalry in areas from games to fintech
  • Company’s an early indicator for China’s post-virus tech world
China to Boost Shenzhen's Role in Greater Bay Area Innovation
Photographer: Qilai Shen/Bloomberg
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The Covid-19 pandemic likely barely dented Tencent Holdings Ltd.’s growth, thanks to its dominance of online spheres from gaming to social media. Now that China’s industries are emerging from the worst of the outbreak, the bigger long-term threat may be the growing posse of challengers to its internet leadership.