China's regulatory crackdown may have hit Q3 profits of Tencent, Alibaba

China's regulatory crackdown may have hit Q3 profits of Tencent, Alibaba

FILE PHOTO: A Tencent logo is seen in Beijing, China September 4, 2020. REUTERS/Tingshu Wang/File Photo

China’s biggest listed companies Tencent and Alibaba are expected to report a fall in profits and slowing revenue growth in the July-September quarter, hurt by the year-long regulatory crackdown that has upended its tech industry.

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