Tencent Holdings

ByteDance details dozens of internal misconduct cases from bribery and data leaks to using company funds for personal expenses

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ByteDance, owner of hit short-video app TikTok and its Chinese sibling Douyin, has internally disclosed 61 misconduct cases involving employees who were fired or charged by authorities for accepting bribes, leaking data and claiming expenses inappropriately, among other wrongdoings. Four employees were detained or released on bail, including former Douyin worker Lu Yang, who accepted … Read more

Tencent pushes wider adoption of AI-powered smart mobility system from a vehicle’s cockpit to the factory floor

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Senior executives of the Shenzhen-based technology behemoth on Wednesday took the wraps off this initiative at an event in Beijing, where they touted the advantages of having its mobility solution backed by the firm’s own large language model (LLM) – the technology used to train generative AI services like ChatGPT – to not only enhance … Read more

China approves 95 new video games in April, including Lost Soul Aside from Sony and NetEase’s Broken Land

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Action role-playing game Lost Soul Aside received a licence for release on personal computers as well as for gaming consoles PlayStation 4 and 5, according to the NPPA list. NetEase’s Broken Land was previously known as Code 56. Photo: NetEase Tencent Holdings, which runs the world’s biggest video gaming business by revenue, received the regulator’s … Read more

China celebrates 30th anniversary of country’s first internet connection in sign of support for the sector

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China celebrates 30th anniversary of country’s first internet connection in sign of support for the sector A government-backed forum commemorating the 30-year anniversary of China’s access to the global internet brought together the country’s regulators and Big Tech executives, including Tencent Holdings founder Pony Ma Huateng, on Saturday as Beijing moves to boost the private … Read more

ByteDance profit jumps 60% to US$40 billion, taking TikTok’s owner past arch-rival Tencent

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ByteDance’s profit surged roughly 60 per cent in 2023, outpacing the growth of online peers Tencent Holdings and Alibaba Group Holding, in a sign of the TikTok owner’s resilience in the face of an economic downturn. Earnings before interest, tax, depreciation and amortisation jumped to more than US$40 billion from about US$25 billion in 2022, … Read more

China added 1 unicorn per week last year despite slumping global investments thanks partly to AI frenzy, report says

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China last year bred an average of one new unicorn each week amid frenzied growth in the country’s artificial intelligence (AI) sector, bucking a declining trend in global venture capital investments, according to a new research report. The nation added 56 unicorns – start-ups valued at more than US$1 billion – in 2023, trailing only … Read more

Chinese social media platform Weibo removes fake images showing a rapidly ageing Tencent founder Pony Ma

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Chinese social media platform Weibo has deleted a number of accounts publishing and spreading a retouched photo of a grey-haired and wrinkle-faced Pony Ma Huateng, Tencent Holdings’ founder and CEO, in the latest example of efforts to protect the country’s top entrepreneurs from online abuse. “A small number of users posted and hyped up false … Read more

Huawei injects fresh capital into Shenzhen investment subsidiary as US-sanctioned tech giant returns to growth

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With that infusion, Shenzhen Habo Technology Investment Partners – established in 2021 by Huawei and Habo Investment – last Thursday raised its registered capital to 7.98 billion yuan (US$1.1 billion) from 7 billion yuan previously, according to data from Chinese business registry platform Tianyancha. Huawei did not immediately respond to a request for comment on … Read more

China said to fall short of matching US advances in AI owing to ‘many challenges in theory and technologies’

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China is falling short of matching the United States in artificial intelligence (AI) advances because the nation’s efforts are “littered with many essential challenges in theory and technologies”, according to a recent slide presentation made to Chinese Premier Li Qiang. Those difficulties were pointed out to Li during his recent inspection tour of the Beijing … Read more

China’s Alipay and WeChat Pay ease the way for foreign travellers to make payments in world’s largest cashless society

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Alipay’s annual cumulative transaction limit for foreign visitors has also been increased to US$50,000, up from the previous US$10,000 limit, in line with a new People’s Bank of China policy, the group said. 02:40 How mobile payments impact people’s lives in China How mobile payments impact people’s lives in China Tencent on Thursday said foreign … Read more