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Tencent Faces Broad China Clampdown on Fintech, Deals

  • Watchdogs see Tencent as next target for oversight after Ant
  • Company was fined on Friday for its 2018 investment in an app
Tencent Binhai Mansion as the Chinese Tech Company Invests $150 Million in Waterdrop
Photographer: Yan Cong/Bloomberg
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Pony Ma’s Tencent Holdings Ltd. has been put on notice.

Asia’s largest conglomerate was censured by China’s antitrust watchdog on Friday as Beijing expands a crackdown that began with Jack Ma’s online empire.