Tencent boss vows ‘compliance’ with China regulators

Tencent’s billionaire founder Pony Ma — China’s second richest man — has met with anti-monopoly regulators and agreed his firm will be “as compliant as possible,” after rival tech giant Alibaba was battered by legal woes.

Tencent, which owns the super-app WeChat and a lucrative gaming empire, is the latest tech conglomerate to fall in the crosshairs of China’s regulators.

They have launched a blitz on apparent anti-competitive practices, threatening to slice up supersized firms whose reach now stretches into the daily finances of the public.

Ma, also known as Ma Huateng, said he would “actively cooperate with regulatory authorities and be as compliant as possible” during a news briefing late Wednesday on Tencent’s annual results, reported Chinese financial outlet Yicai.