Tencent shuts down its rival to Amazon's Twitch as China's crackdown on tech continues

Tencent is shutting down its game streaming service, the latest retreat by Big Tech in the face of a sweeping crackdown by Chinese regulators

Hong Kong that has sharply slowed growth at some of the country's most powerful internet companies.

The streaming platform, Penguin Esports, announced Thursday that it would terminate all services on June 7, citing changes in"business development strategy." Just nine months ago, anti-trust regulators prevented Tencent merging the company with its other interests in live streaming. Penguin Esports was established by Tencent in 2016 and is similar to Amazon 's Twitch service.

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