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Tencent has a dominant share in China’s gaming market—which surged during COVID-19 lockdowns in China—and owns super-app WeChat, which has 1.2 billion users. Together, Tencent’s operations constitute the largest online community in China. Growth in gaming helped boost Tencent’s sales 29% in the third quarter. But its stock fell from recent highs in early November after Beijing proposed new rules to prevent antitrust behavior by China’s tech giants.

Yomiuri Shimbun—Reuters
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