Tencent’s fintech and business arm – which includes cloud computing – is the fastest growing segment, contributing about 30% of revenue, the largest source of revenue after gaming. Tencent executives have said a fintech shakeup should have little impact on operations, and WeChat Pay is primarily a transaction platform rather than a lender, which carries higher risks. The Wall Street Journal reported last week that Tencent faces a record fine after Chinese authorities found WeChat Pay violated anti-money laundering rules.

This post Tencent Remains in Beijing’s Sights Even After Falling $490 Billion

was original published at “https://www.bloombergquint.com/markets/tencent-stays-in-beijing-s-sights-even-after-490-billion-drop”