SHANGHAI (CHINA) – Tencent Holdings Ltd, China’s biggest social media and video games company, on Wednesday named 37 companies it had blacklisted from future contracts.
The company also informed through a social media that it had reported has fired more than 100 staff over embezzlement and bribery incidents. They have also reported 40 employees to authorities since it started an anti-graft campaign in the fourth quarter of 2019.
Chinese tech companies have doubled down on corruption investigations in recent years, as their valuations and profiles have soared following a tech boom in the country.
Tencent said on Wednesday it would stick to a “zero tolerance” policy towards unethical behaviour.