Billionaire Pony Ma Vows Long-Term Growth For Tencent Amid China Tech Crackdown

Pony Ma, the billionaire co-founder of Chinese web giant Tencent, has vowed to reposition his company for “sustainable long-term” growth, after Beijing’s crackdown on its internet sphere has chopped more than $490 billion off Tencent’s market cap since it peaked at $951 billion about one year ago.