Tencent, Alibaba & ByteDance record big jump in investments in 2021 as crackdown hits growth

Tencent, Alibaba & ByteDance record big jump in investments in 2021 as crackdown hits growth

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

China’s tech giants Tencent, Alibaba and ByteDance made more equity investments in 2021 compared to the previous year, as a sweeping regulatory crackdown hit their core businesses, industry data show.

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