The industrial giant Tencent has stopped aggressively buying up companies and shares in them against the background of the toughened position of the Chinese authorities, writes the SCMP business portal. In January-June, the holding made only 32 transactions — in the first half of 2021 there were 129 of them.
According to analysts at Arete Research, the profit from investments before taxation provided Tencent with 63% of revenue in 2021.
It is also reported that Tencent has begun to reduce the employees of the investment division. SCMP sources claim that in some teams, half of the people were fired and some of them were transferred to other departments.