A logo of Tencent is seen during the World Internet Conference (WIC) in Wuzhen, Zhejiang province, China, November 23, 2020. REUTERS/Aly Song
SHANGHAI, Aug 18 (Reuters) – China’s Tencent Holdings (0700.HK) said on Wednesday that the internet industry should brace for more regulations and uncertainty, but it believed Beijing ultimately wanted to forge a long-term sustainable path for the sector.
The gaming and social-media giant, which beat forecasts with a 29% jump in second-quarter profit, has been among companies that have borne the brunt of regulatory actions Chinese authorities have unleashed on the tech industry and other sectors. read more
“There will be short-term uncertainties and there will be a lot of new regulations that will be coming,” Tencent President Martin Lau told analysts in a call after the company’s results, adding that regulators were “very focused on identifying…
