Tencent giving away USD 16 billion of its stakes in JD.com to stay on right side of Beijing

Hong Kong, December 25 (ANI): China's second-largest e-commerce company, Tencent on Thursday announced that it is giving away USD 16 billion of its stake in JD.com to stay on the right side of Beijing.

This surprising retreat by Tencent comes at a time when the country's internet giants are under intense pressure from Beijing, reported CNN.

Beijing has been cracking down on tech giants to rein in their growing power and i