The Chinese government recently ordered a structural reform of Jack Ma’s Ant Group.
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Ten companies have been fined for malpractice in past mergers and acquisitions deals, according to a statement from the State Administration for Market Regulation (SAMR) on Friday.
Chinese social and gaming giant Tencent reported strong Q3 financial results on Thursday, generating a revenue of 125.5 billion yuan ($18.9 billion), up 29% year-on-year and ahead of analysts’ expectations.