{"id":18109,"date":"2022-08-24T14:00:00","date_gmt":"2022-08-24T14:00:00","guid":{"rendered":"https:\/\/daoinsights.com\/?p=18109"},"modified":"2022-10-27T22:30:30","modified_gmt":"2022-10-27T22:30:30","slug":"what-does-tencents-first-ever-revenue-decline-in-q2-signpost-for-chinas-tech-industry","status":"publish","type":"post","link":"https:\/\/daoinsights.com\/exclusives\/what-does-tencents-first-ever-revenue-decline-in-q2-signpost-for-chinas-tech-industry\/","title":{"rendered":"What does Tencent\u2019s first-ever revenue decline in Q2 signpost for China\u2019s tech industry?"},"content":{"rendered":"\n

On 17 August, one of China\u2019s tech giants Tencent reported<\/a> its first-ever quarterly year-on-year decrease in revenue by 3% to 134 billion RMB<\/strong> ($19.66 billion) in the second quarter of 2022. The decline was attributed to regulatory clampdowns on the tech industry over the past year, such as the so-called \u201cInternet Purification Campaign\u201d that strives to cleanse the Internet and social media of \u201cillegal content and information.\u201d<\/p>\n\n\n\n

This was coupled with other national campaigns for safeguarding young Internet users<\/strong>, especially minors, resulting in stricter regulations on the live stream sector<\/a> and video game restrictions<\/a> for underage players have taken a further toll on the world\u2019s largest video game vendor<\/a>. With the country already suffering an economic downturn as a result of the COVID resurgence in China and the government\u2019s stringent \u201czero COVID\u201d policies, these regulatory hostilities further add to the business\u2019 suffering.<\/p>\n\n\n\n

\n
Douyin bans 60 live streamers who lured minors to send virtual gifts<\/a><\/blockquote>