Tencent Waves Off Impact of Revamp Into Financial Holding Firm
- Tencent executives said it was compliant with most new rules
- Compliance is fintech operation’s lifeline, president says
The Tencent Holdings Ltd. headquarters in Shenzhen.
Photographer: Qilai Shen/BloombergThis article is for subscribers only.
Tencent Holdings Ltd. expects “neutral” impact to its operations were it to fold its fintech business into a financial holding company, stressing it’s been compliant with regulations.
Tencent’s fintech operations haven’t been affected much by a slew of rules rolled out in past months that curbed everything from online lending to interest rates and customer age-limits, President Martin Lau said during a post-earnings press conference Wednesday.