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Chinese internet group Tencent Holdings wants to expand into industries such as healthcare and connected cars as it faces tougher regulations in its home country.
In September, China’s largest social media and gaming company announced a major restructuring for the first time in six years. The move came after the Chinese government took steps to tighten control over its internet sector, from mobile gaming to mobile payments, even as some of the biggest firms compete more fiercely with one another for eyeballs, wallet share and, of course, game play.
As a result, Tencent executives decided to consolidate three content business groups to one unit and implement a new group for cloud and smart industries. In addition, the
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