The State Administration for Market Regulation conditionally approves Tencent's acquisition of equity in Ximalaya.

According to the China Securities Journal APP, on May 12, the State Administration of Market Regulation issued an announcement approving with additional restrictive conditions the acquisition of equity in Himalaya company by Tencent Holdings Limited (hereinafter referred to as Tencent). This case has important significance for maintaining fair competition in the online audio playback platform market and the network music playback platform market in China, preventing "zero-sum competition" in the platform field, and promoting innovation and healthy development of the platform economy.