China's tech giants fall under regulator's pressure
IMAGE COPYRIGHT GETTY IMAGES 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 tech giants face new anti-monopoly rules China opens door to Ant Group's stock market debut The race to create the world's next super-app China's State Administration for Market Regulation (SAMR) on Friday said it had fined 12 companies over 10 deals that violated anti-monopoly rules. The companies included Tencent, Baidu, Didi Chuxing, SoftBank and a ByteDance-backed firm, the SAMR said in a statement. Investors appear to be worried that Tencent could be the next company in the crosshairs of Chin...
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