The tougher regulatory environment that Tencent Holdings Ltd. and other tech companies face in China is the new normal and it is here to stay, a Tencent senior executive said, as various stricter rules weighed on the firm’s growth and profitability.
Tencent President Martin Lau also emphasized that the company is working actively with Chinese regulators. As companies adapt to more regulations, “the impact on the industry will be less and less over time,” he said in a conference call on Wednesday.
