As the Chinese government has intensified a crackdown on corruption in recent years, tech companies have doubled down on their own investigations into irregularities as their valuations and profiles have soared following the country’s tech boom.
Tencent started its anti-graft campaign in 2019 and has been regularly reporting the results of its probes.
In 2021, one case involved a former employee from its digital music department asking for and getting favours from its suppliers, Tencent said. Another involved a sports content staffer profiting from using a company he controlled to enter a deal with Tencent, the company added.
Beijing, which has since last year reasserted control over its once-freewheeling internet sector through a wide-ranging regulatory crackdown, said last week it would investigate and punish any corrupt behaviour found behind internet platform monopolies.
Tencent boasts of being a world-leading internet and technology company that develops innovative products and services to improve the quality of life of people around the world.
Founded in 1998 with its headquarters in Shenzhen, China, Tencent said its guiding principle is to use technology for good.
“Our communication and social services connect more than one billion people around the world, helping them to keep in touch with friends and family, access transportation, pay for daily necessities, and even be entertained,” it said on its website.
Tencent also publishes some of the world’s most popular video games and other high-quality digital content, enriching interactive entertainment experiences for people around the globe.
It equally offers a range of services such as cloud computing, advertising, FinTech, and other enterprise services to support our clients’ digital transformation and business growth.
Tencent has been listed on the Stock Exchange of Hong Kong since 2004.
With additional reports from Reuters
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